Ever since plans for the Texas-based national stock exchange were announced this past summer, North Texas business leaders have been abuzz about what it could mean for the market. Now, TXSE Group has revealed more details about its executive leadership team.
The individuals, TXSE says, come with backgrounds in both the public and private sectors and have been instrumental in shaping plans for the stock exchange as it “works to revitalize competition for issuers, establish the premier venue for listings, and create a world-class trading platform for all market participants.”
James Lee, founder and CEO of TXSE Group, said the team is made up of business, market structure, and policy leaders. “These individuals have tremendous expertise in the markets as well as broader experience building and leading companies that have propelled their industries,” he said in a statement. “Their perspectives will be invaluable as we position TXSE for success now and for the next generation.”
Industry veteran Cam Smith will serve as global head of trading and co-president. Jeff Brown, former acting general counsel at Charles Schwab, has joined as GC of TXSE Group and the exchange’s chief regulatory officer. Familiar names on the board include former Texas Gov. Rick Perry and Energy Transfer co-CEO Tom Long. Additionally, former Dallas Fed President Richard Fisher will serve as a strategic advisor.
Lee said in a Monday press conference in Austin that $135 million has been raised, primarily from BlackRock and Citadel Securities, toward the mission of offering an alternative to Nasdaq and the NYSE. He cited the size of the state’s economy, the number of public companies in Texas, and its deep data center infrastructure as reasons for basing a new exchange here. It will serve U.S.-based and international issuers, investors, and market participants, TXSE says.
Plans call for the exchange to be based in Dallas, which has exponentially advanced its financial base with recent campus expansions from Goldman Sachs, Wells Fargo, JPMorgan Chase, and others. Hoque Global’s Mike Hoque has made no secret of his goal to welcome TXSE as a tenant in the 72-story downtown office tower he has under contract.
TXSE expects to file a registration with the SEC to operate as a national securities exchange in the coming months. Here are excerpts from the bios of the organization’s new leadership team, presented in alphabetical order.
TXSE LEADERSHIP
Jeffrey Brown, general counsel, TXSE Group, and chief regulatory officer, TXSE. Prior to joining TXSE, he served as acting general counsel of Charles Schwab and led its legislative and regulatory affairs office in Washington, D.C.
Nicole Chambers, global managing director of listings. The SMU grad formerly served as senior managing director of listings at Nasdaq.
Marc Cunningham, global managing director. An industry vet, he most recently served as the Houston-based regional managing head of capital markets for the NYSE.
Adrian Falcone, head of technology operations. He’s the former senior director of production operations at Interactive Data Corp.
Jeff Karcher, global managing director. Prior to joining TXSE, he pent nine years leading the listings business at the NYSE in the Southeast.
Bob Kenny, senior software developer. He’s the former post trade lead developer at Hudson River Trading.
James Lee, chairman, founder, and CEO, TXSE Group. With three decades of industry experience, he co-founded trading technology companies that developed early smart order routing technologies and an electronic trading firm.
Jonathan Ross, lead architect and developer, former chief technology officer at KCG Holdings
Cameron Smith, global head of trading and co-president. An industry vet with 25 years of experience at the SEC, Island ECN (which became part of Nasdaq), Instinet, INET ATS, Quantlab Financial, and IncaDigital.
Rick Yoder, CTO. He most recently was director of software development at Intercontinental Exchange Data Services.
BOARD MEMBERS
Alex Bussandri, global head of strategy at Citadel Securities
Paul Foster, founder and CEO of the diversified investment company Franklin Mountain Investments
Tom Long, co-chief executive officer of Energy Transfer
Rick Perry, former U.S. Energy Secretary and former governor of Texas
Rick Roberts, co-founder and principal at RR&G, and former commissioner of the U.S. Securities and Exchange Commission
Tyson Tuttle, founder and CEO of AI startup Circuit
STRATEGIC ADVISORS
Harvey Cloyd, founder and former CEO of Electronic Transaction Clearing and its affiliate companies
Richard Fisher, former president of the Federal Reserve Bank of Dallas
Alex Goor, former chief information officer of Interactive Data Corp.
Bill Lauderback, former executive vice president of public affairs at the Texas Lower Colorado River Authority
Mark McCombe, vice chairman at BlackRock
Brett Redfearn, former director of the division of trading and markets at the U.S. Securities and Exchange Commission
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