The Texas Stock Exchange (TSXE), still months away from winning regulatory approval to begin operations, said it hired senior exchange-traded funds executives from Cboe Global Markets and Nasdaq to win a share of trading in the $11 trillion U.

The Texas Stock Exchange said Thursday it has hired veterans of the industry to lead the upstart exchange’s expansion into the $11T exchange-traded products market. The Dallas-based exchange said in a statement that former head of ETP listings at Cboe Global Markets Robert Marrocco will be its global head of ETP listings and a member of its

Cboe Global Market’s former head of exchange-traded products listings Robert Marrocco will join the Texas Stock Exchange as its global head of ETP listings.

"The ETP market is growing at an unprecedented pace," said TXSE chairman and CEO James H. Lee. "The Texas Stock Exchange is committed to delivering the innovation, operational expertise, and alignment that sponsors require to capitalize on this next wave of global expansion.