Our leadership team combines extensive market expertise and regulatory experience with long track records of leading high-performing businesses across industries.

Meet the team.

Jeffrey Brown
Jeffrey Brown
Chief Legal Officer and General Counsel, TXSE Group Inc.

Prior to joining TXSE, Jeff served as acting general counsel of Charles Schwab and led its Office of Legislative and Regulatory Affairs in Washington, D.C. for the past two decades, managing the company's response to public policy initiatives and advocating for policies that aid individual investors. He has over four decades of securities markets experience, starting his career as an options trader at the Philadelphia Stock Exchange, then founding his own trading firm, and later serving on the exchange's Board of Governors. He also served as senior counsel in the Division of Market Regulation at the U.S. Securities and Exchange Commission. Jeff's additional experience in the securities industry includes serving as vice president for regulation and general counsel at the Cincinnati Stock Exchange and as chairman of the Operating Committee of the National Market System Plan governing Nasdaq securities. Jeff holds degrees from the Wharton School of the University of Pennsylvania and Ohio Northern School of Law.

Andrew Brown
Andrew Brown
Director of Data Center Operations

Prior to joining TXSE, Andrew served as senior director of infrastructure at Cboe Global Markets, where he oversaw critical systems supporting market operations. Before Cboe, Andrew held leadership roles in network engineering over the course of his nearly 15-year tenure at Bats Global Markets. He holds a bachelor’s degree in psychology and criminology from Drury University.

Alex Bussandri
Alex Bussandri
Director

Alex is the global head of strategy at Citadel Securities, a leading market maker. Prior to this, he was a director in Bain Capital's special situations fund, based in London. He was previously a partner at McKinsey & Company in the firm's private equity and financial services practices. He began his career as an FX and rates trader. Alex holds an MBA with distinction from INSEAD and a bachelor's degree from McGill University.

Nicole Chambers
Nicole Chambers
Global Managing Director of Listings, Texas Stock Exchange

Nicole brings nearly 17 years of extensive experience collaborating with public and private companies across the United States. Previously, she served as senior managing director, listings at Nasdaq. In that capacity, Nicole played a pivotal role in driving the growth and development of Nasdaq's listings and services, forging strategic partnerships throughout every stage of the capital markets lifecycle. Nicole is a graduate of Southern Methodist University.

Harvey Cloyd
Harvey Cloyd
Strategic Advisor

Harvey is a securities industry veteran who has served as a pioneer in high frequency clearance and settlement, digital asset custody, and risk management. Previously, Harvey was the founder and chief executive officer of Electronic Transaction Clearing (ETC) and its affiliate companies. ETC was a preeminent U.S. brokerage and clearing firm that provided clearing and settlement services to introducing brokers, ATSs, and high volume proprietary trading firms. On average, ETC routinely cleared the equivalent of 6 percent of U.S. equity daily share volume and was the first U.S. broker-dealer to custody digital securities and cryptocurrencies. ETC was acquired by Peak 6 in 2019. During his tenure at ETC, Harvey co-founded Keystone Capital, an institutional brokerage firm that was acquired by Coinbase in 2018. Before ETC, Harvey served as vice president and business development manager for Wedbush Morgan Securities and founded Harvey Cloyd & Co., the first direct-access institutional floor broker in the U.S. He started his career as a floor broker on the Pacific Stock Exchange for Pershing & Co. Harvey is also the founder of Alive Energy, an energy drink company, serves as an advisor to Sport Source, and is on the board of directors at Crenshaw Christian Center.

Marc Cunningham
Marc Cunningham
Global Managing Director, Texas Stock Exchange

Marc is a seasoned financial executive with over 25 years of experience in capital markets, business consulting, investor relations, corporate finance, investment banking, and equity research. Prior to joining TXSE, Marc served as regional head of capital markets, based in Houston, at the New York Stock Exchange. In that capacity, he led all capital market activities across multiple sectors in the central U.S. and advised private companies on IPOs, SPAC business combinations, transfers, and listing planning and execution. He previously served as head of energy and industrial capital markets at NYSE, advising executive teams of some of the highest profile IPOs in the energy and industrial sectors. Before NYSE, Marc led strategic communications for capital markets at FTI Consulting and held finance, business development, and investor relations roles at several energy companies, including Shell, Anadarko Petroleum, and Noble Energy. Earlier in his career, Marc worked in equity research and investment banking at RBC Capital Markets and Lehman Brothers. He holds a BBA in finance from Loyola University New Orleans.

Adrian Falcone
Adrian Falcone
Head of Technology Operations, Texas Stock Exchange

Adrian has more than 25 years of experience working in the electronic trading space and building real-time operations systems. Previously, Adrian served as senior director, production operations at Interactive Data Corporation (IDC). He also served in several operations development roles at MEMX, Bank of America Merrill Lynch, Madison Tyler LLC, Barclays, Nasdaq, Instinet, and Island ECN. He holds degrees from Carnegie Mellon University and the City College of New York.

Richard Fisher
Richard Fisher
Strategic Advisor

Richard served as the 12th president of the Federal Reserve Bank of Dallas from 2005 to 2015 and was at the forefront of the debate over banking regulation. He began his career in finance at Brown Brothers Harriman & Co. and founded Fisher Capital Management and a separate funds-management firm, Fisher Ewing Partners. He is also former vice chairman of Kissinger McLarty Associates, a strategic advisory firm chaired by former Secretary of State Henry Kissinger. Fisher was a dedicated public servant, working as special assistant to the U.S. Treasury Secretary from 1977 to 1979, and then as deputy U.S. trade representative in the late 1990s. He currently serves on the board of Tenet Healthcare and Warner Brothers Discovery and is a senior advisor to Jefferies. Richard graduated with honors in economics from Harvard University, studied Latin American politics at Oxford University, and holds an MBA from Stanford University. His accomplishments have been recognized with awards and honors, including induction into the Texas Business Hall of Fame in 2019.

Paul Foster
Paul Foster
Director

Paul is the founder and chief executive officer of Franklin Mountain Investments LLC, a diversified investment company with interests spanning real estate, energy, private equity, construction, aviation, sports, medical devices, and hospitality. He was founder and chief executive officer of Western Refining, which was a Fortune 200 oil refiner and marketer sold to Andeavor (formerly Tesoro) in 2016. Andeavor is now part of Marathon Petroleum Corp. Currently, Paul is a member of the board of trustees of the Baylor College of Medicine and the board of directors of WestStar Bank, and a member of the Texas Parks and Wildlife Commission. Previously, he served as chairman of the board of the Electric Reliability Council of Texas (ERCOT), vice chairman and chairman of the University of Texas System Board of Regents, and as chairman of the University of Texas Investment Management Company (UTIMCO). He is a past director of the El Paso branch of the Dallas Federal Reserve Bank. A notable philanthropist, Paul has extensively supported educational and community initiatives, including through major contributions to Baylor University and the Texas Tech University Health Sciences Center. Paul is a graduate of Baylor University, where he earned a bachelor of business administration in accounting.

Alex Goor
Alex Goor
Strategic Advisor

Alex has more than 20 years of experience building electronic financial markets. Previously, Alex was the chief information officer of Interactive Data Corporation (IDC), prior to its sale to ICE/NYSE. At IDC, he created the technical capability to provide real-time pricing for millions of global fixed income securities. Before joining IDC, Alex served as co-president and then co-chief executive officer of Instinet, an institutional agency brokerage servicing the largest global asset managers. He also served as the chief strategy officer of Datek Online Holdings Corporation. He is an advisor to Blue Flame AI, Sporttrade, Upper90 and a director of Voyant Photonics. He was a board member of ACA Compliance Group, GAIN Capital, Insurity, and Dealogic. Alex holds degrees from the Juilliard School of Music and Columbia University.

Jeff Karcher
Jeff Karcher
Global Managing Director, Texas Stock Exchange

Jeff brings more than three decades of experience in U.S. equity markets and international equity research. Prior to joining TXSE, Jeff spent nine years leading the listings business at the New York Stock Exchange in the southeast. He joined NYSE in 2015 after spending almost 30 years working in the institutional equity business in a variety of business development, research management, and product development roles at RBC Capital Markets, Deutsche Bank, and Paine Webber. Jeff has his CETF® certification and has been active in the Atlanta regional business community as a member of the board of directors of FinTech Atlanta and NIRI Atlanta Chapter and as a member of the Metro Atlanta Chamber's Innovation and Entrepreneurship Committee. Jeff is a graduate of the University of Cincinnati, where he received a BBA in finance.

Bob Kenny
Bob Kenny
Senior Software Developer, Texas Stock Exchange

Bob has over three decades of experience in software engineering and data services. Prior to joining TXSE, Bob served as post trade lead developer at Hudson River Trading. In this role, he was the development manager of the firm's post trade system that managed the storage of all trading data, broker data, and commissions rules. Before joining Hudson River Trading, Bob held leadership roles in software development at Intercontinental Exchange, Nasdaq, Instinet, and Island ECN. Bob holds a BS in computer science and tech writing from Clarkson University and an MS in information networking from Carnegie Mellon University.

Bill Lauderback
Bill Lauderback
Senior Advisor

Bill is a veteran public affairs professional with a deep knowledge of Texas. He served for eight years as executive vice president for public affairs at the Texas Lower Colorado River Authority (LCRA), where he played a crucial role in shaping and communicating the organization's public policy and strategic initiatives. He also brings over three decades of corporate affairs experience, holding prominent roles such as senior advisor at Hill+Knowlton Strategies and executive vice president of corporate affairs at Momentum Securities/E*TRADE Financial Corporation, where he played an integral role in transforming the startup into one of the nation's highest volume electronic trading operations. Earlier, Bill was vice president for governmental affairs of the Texas Mid-Continent Oil and Gas Association. He has also held senior roles in both federal and state government. At the U.S. Department of Energy, he was deputy assistant secretary for gas and petroleum technology, and he served as executive director of the Texas Department of Commerce and as special assistant to the Governor of Texas. Bill earned his undergraduate and graduate degrees in business from the University of Texas.

James Lee
James Lee
Chairman, Founder, and CEO, TXSE Group Inc.

Jim has 30 years of experience in U.S. equity markets, alternative investments, and governance of large public retirement systems and endowments. He co-founded trading technology companies that developed early smart order routing technologies and an electronic trading firm that regularly transacted large percentages of U.S. daily equity volume. He started his career in mergers and acquisitions at First Boston and Lehman Brothers. Jim has held several leadership roles in the public sector, including as chairman of the Board of Trustees of the Teacher Retirement System of Texas. Jim was named an EY Entrepreneur of the Year in eServices and is the chairman and president of the Houston Symphony Endowment. He holds an MBA and a BBA from the University of Texas McCombs School of Business and graduated from the London Business School's finance/hedge funds programmes. Jim also holds multiple FINRA licenses and certifications.

Tom Long
Tom Long
Director

Tom is a distinguished financial executive who currently serves as co-chief executive officer of Energy Transfer LP, owner and operator of one of the largest and most diversified portfolios of energy assets in North America. He was previously chief financial officer of Energy Transfer and has been a member of its board of directors since April 2019. He brings over three decades of experience in the energy and financial sectors, including as executive vice president and chief financial officer of Regency GP LLC. He also served in several executive positions at Matrix Service Company, DCP Midstream Partners, LP, and Duke Energy Corp. He was appointed by Gov. Abbott to the Texas State University System Board of Regents in May 2023 and has served on the board of directors of Texas Capital Bancshares, Inc since 2022. He also serves as chairman of the board of directors of USA Compression Partners, LP and previously was on the board of Sunoco LP. Tom received his bachelor's degree in accounting from Lamar University and is a certified public accountant.

Mark McCombe
Mark McCombe

Mark is vice chairman at BlackRock, where he oversees key client relationships and strategic initiatives. Mark's career in international finance spans more than 30 years and nine countries, and his roles have included chief client officer and head of the U.S. and Canada region at BlackRock. Before joining BlackRock, Mark served as chief executive officer of HSBC Global Asset Management in both Hong Kong and London. He was also a non-executive director of Hang Seng Bank Ltd. and chairman of HSBC Global Asset Management (HK) Ltd. Prior to that, he was based in London where he was chief executive of HSBC Global Asset Management. During his career, Mark has served on a number of finance industry bodies including the Risk Management Committee of the Hong Kong Exchanges and Clearing Limited, the Banking Advisory Committee for the Hong Kong Monetary Authority, the Hong Kong Association of Banks, and as a council member of the Financial Services Development Council (FSDC), an advisory body established by the Hong Kong Special Administrative Region. Mark earned a master's degree from Aberdeen University and completed the Advanced Management Program at Wharton Business School. He was also recognized in the Queen's New Year Honours List in 2006 with an OBE.

Scott Palmer
Scott Palmer
Chief Regulatory Officer, Texas Stock Exchange

Scott Palmer brings more than 25 years of experience in risk, compliance, supervision, and regulation, spanning the exchange, broker-dealer, and banking sectors. Prior to joining TXSE, he served as the chief regulatory officer at MEMX, where he was a key member of the launch team and built and oversaw the exchange's regulatory program. Before MEMX, Scott held leadership roles focused on compliance, surveillance, and risk management at the New York Stock Exchange and at major financial institutions including Goldman Sachs, JPMorgan Securities, Credit Suisse Securities, and Citigroup. Scott holds an MBA from Johns Hopkins University and a bachelor’s degree in business administration from the University of Baltimore. He is also a FINRA Certified Regulatory and Compliance Professional (CRCP).

Honorable Rick Perry
Honorable Rick Perry
Director

The Honorable Rick Perry is a distinguished American politician known for his extensive public service. He served as the 14th U.S. Energy Secretary from 2017 to 2019, overseeing America's rise to become the top producer of oil and gas in the world. Prior to this role, Sec. Perry was governor of Texas, holding office from 2000 to 2015, making him the longest-serving governor in Texas history. During his tenure, he championed pro-growth principles that made Texas one of the largest economies in the world and oversaw the relocation of hundreds of millions of dollars in private sector business and thousands of jobs to Texas. He remains active in public policy and advocacy, currently serving as the chair of the Center for Energy & Environment at the America First Policy Institute​. He is also a member of the board of directors of Energy Transfer LP. Before his political career, he served as a C-130 pilot in the U.S. Air Force and attained the rank of captain. Sec. Perry graduated from Texas A&M University.

Brett Redfearn
Brett Redfearn
Strategic Advisor

Brett is the former director of the Division of Trading and Markets at the U.S. Securities and Exchange Commission and played a critical role in the agency's efforts to modernize the National Market System. He has held key roles in finance and market structure throughout his career, serving as global head of market structure at J.P. Morgan, senior vice president at the American Stock Exchange, and senior managing director at Bear Stearns & Co. Brett was also a member of the boards of the BATS Global Markets, BATS Exchange, Chicago Stock Exchange, and BIDS Trading. Most recently, Brett is the founder and chief executive officer of Panorama Financial Markets Advisory, a leading consultancy dedicated to navigating the complexities of financial markets. He is a graduate of Evergreen State College and The New School.

Rick Roberts
Rick Roberts
Director

Rick is a former commissioner at the U.S. Securities and Exchange Commission, serving from 1990 to 1995. Currently, he is a co-founder and principal at RR&G, a regulatory and legislative consulting firm. He previously was a partner at the law firm of Thelen, Reid & Priest in Washington, D.C. Over the years, Rick has advised clients on significant regulatory initiatives and developments. He holds a bachelor's degree in electrical engineering from Auburn University and earned his JD from the University of Alabama School of Law.

Jonathan Ross
Jonathan Ross
Lead Architect and Developer, Texas Stock Exchange

Jonathan has over 20 years of experience in the electronic trading industry, with expertise in M&A, change management, and technology modernization. Before joining TXSE, Jonathan was the chief technology officer at KCG Holdings, Inc., where he led the successful technology merger of Getco LLC with Knight Capital, creating one of the largest and most influential fully electronic trading firms. Prior to this, he served as the chief technology officer at Getco LLC, where he spearheaded the firm's client services expansion both in the U.S. and Europe. His efforts were pivotal in modernizing trading systems and ensuring seamless technology integration during mergers and acquisitions. Earlier in his career, Jonathan served as the chief technology officer at Nasdaq, where he managed the integration of Island ECN's technology through two M&A cycles. He was named in the top five of Institutional Investor's Trading Technology 40 from 2013 to 2016 and was listed among the Financial News' 100 Most Influential People in European Market Structure in 2012 and 2013.

Cameron Smith
Cameron Smith
Global Head of Trading and Co-President, Texas Stock Exchange

Cam is an industry veteran with more than 25 years of experience working at the intersection of trading, regulation, compliance, and innovation. Cam began his career working in the U.S. Securities and Exchange Commission's Division of Market Regulation. He then served as a key member of the team at Island ECN — which became part of Nasdaq — where he was general counsel and chief strategy officer. Cam was also general counsel of Instinet, a global agency broker, and chief strategy officer of its subsidiary, INET ATS. He later served as president of Quantlab Financial, a leading global, multi-asset class trading firm. Most recently, Cam was director of special projects and strategic relationships at Inca Digital. He founded the Modern Markets Initiative and was a board member of BATS, CHI-X Global, and the Cincinnati Stock Exchange. Cam holds a law degree from Seattle University.

Shane Swanson
Shane Swanson
Deputy General Counsel

Shane Swanson brings 30 years of experience in the financial services industry, with a deep understanding of trading and processing systems. Before joining TXSE, Shane served as chief operating officer, general counsel, and chief compliance officer at 18 Somerset Capital Management, where he was one of the firm's four founding members. Prior to 18 Somerset, Shane was research director, market structure and technology at Coalition Greenwich, where he focused on the intersection of regulation and technology. He also served as chief compliance officer at Thesys CAT, the initial plan processor for the Consolidated Audit Trail (CAT), and as director of equity market structure at Citadel Securities. Shane began his career as outside counsel for Automated Trading Desk (ATD), later becoming its general counsel and director of compliance. Following ATD's acquisition by Citigroup, Shane led the company's business, legal, and regulatory integration into the Citigroup infrastructure. He went on to hold leadership roles at Lava Trading (a Citi company) and Eladian Partners before returning to ATD as CEO. Shane holds a law degree from the University of South Carolina School of Law and a bachelor's degree in arts and sciences from the University of South Carolina.

Adele Taylor
Adele Taylor

As chief administrative officer at Schwab, Adele Taylor leads the company's corporate strategy, corporate development, vendor management, and real estate functions. Adele joined Schwab in September 2024 from Franklin Templeton, where she was SVP and lead, corporate strategy and corporate development. In that role, she shaped and drove strategic direction at the corporate and business line levels, evaluated and executed on growth and efficiency opportunities, and steered development and partnership efforts. Prior to Franklin Templeton, Adele served as a consultant at McKinsey & Company for over a decade, most recently as partner and the leader of the West Coast wealth and asset management practice. In this capacity, she advised senior executives in the wealth management, asset management, banking, and retirement industries on major strategic choices and drove transformational execution programs. She received her undergraduate degree from Yale University and an MBA from Columbia University.

Tyson Tuttle
Tyson Tuttle
Director

Tyson is founder and chief executive officer of Circuit, an innovative AI startup building the world's most trusted knowledge network that empowers people, communities, and organizations to focus on what matters most. He currently serves on several prestigious boards, including the Federal Reserve Bank of Dallas, Johns Hopkins University Whiting School of Engineering, and Austin Monitor. Prior to Circuit, Tyson was president and chief executive officer of Silicon Labs where he led the company's transformation from a semiconductor component supplier into a global leader in silicon, software, and solutions for Internet of Things (IoT). He spearheaded five internal startups during his tenure, driving annual revenue beyond $1 billion and earning widespread global recognition. Tyson announced his retirement from the company at the end of 2021 after Silicon Labs completed the sale of the legacy infrastructure and automotive product lines to Skyworks Solutions (NASDAQ: SWKS) for $2.75 billion. Previously, Tyson worked at Broadcom and Cirrus Logic. An engineer at heart, Tyson received a BS from Johns Hopkins University and an MS from UCLA, both in electrical engineering, and holds more than 80 patents.

Kyle Underwood
Kyle Underwood
Associate, Firmwide Strategy

Prior to joining TXSE, Kyle worked as an energy investment banking analyst at Jefferies. Before his time at Jefferies, Kyle was an investment banking analyst at WoodRock & Co. His experience also includes internships at KPMG and Nasdaq. Kyle holds a master of accountancy and a bachelor of business administration in accounting and finance from Baylor University.

Alex Upton
Alex Upton
Director of Infrastructure

Before joining TXSE, Alex served as director of infrastructure solutions architecture at ICE, leading critical infrastructure projects for over nine years. Prior to that, he was director of systems at Interactive Data and held senior roles, including first vice president of systems and executive director, at Instinet LLC. With over 20 years of experience in technology infrastructure, Alex brings expertise in cross-platform, low-latency systems and infrastructure. He also held senior positions at Island ECN/INET ATS and Madison Tyler LLC. Alex began his career at Magnacom Data Products and GFT USA.

Rick Yoder
Rick Yoder
Chief Technology Officer, Texas Stock Exchange

Rick is a seasoned technology leader with over 20 years of experience in the financial technology industry. Before joining TXSE, Rick served as director of software development at Intercontinental Exchange Data Services, where he spearheaded major projects that transformed the delivery of reference data and evaluated pricing products, including the introduction of continuous evaluated pricing, providing real-time fixed income evaluated prices to clients. Prior to ICE Data Services, Rick was part of the initial technology team at Virtu Financial, where he was instrumental in building the company's low-latency high-frequency trading platform. He previously held software development roles at Instinet, Educational Testing Services, Computer Aid, and Mail.com.

Breaking ground...

Our founding institutions and investors represent a substantial number of issuers and significant market share of U.S. equity volume.

And making history.

TXSE is expected to be the most well-capitalized exchange entrant to file a registration with the U.S. Securities and Exchange Commission.

TXSE's founding investors

Our founding institutions and investors include some of the largest financial institutions and liquidity providers in the world.

BlackRock
CEC Facilities Group
Charles & Potomac
Circuit AI
Dallas Opportunity Partners
Deason Capital Services
Fertitta
Fortress
Franklin Mountain Investments
JHL Capital
Nexpoint
Ryan
Squarepoint
Susquehanna
Texas Venture Partners
Tower Research Capital
Westwood
WoodRock & Co.
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