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2h ago

SEC Approves Dallas-Based Texas Stock Exchange, Clearing Path to 2026 Launch

The new venue pitches a lower-cost listing alternative backed by BlackRock, Citadel Securities, Charles Schwab.

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. Picture taken May 12, 2021. REUTERS/Andrew Kelly
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Overview

  • Regulatory approval allows TXSE to begin trading stocks and exchange-traded products as early as early 2026.
  • TXSE bills itself as the first new fully integrated U.S. stock exchange in decades and the only one headquartered in Texas.
  • The venture says it has raised about $120 million from more than two dozen investors and has opened its Dallas headquarters.
  • TXSE targets listings from energy, technology and manufacturing while aiming to reduce the burden of going and staying public, citing an SEC count of roughly 4,400 U.S. listed companies.
  • Rivals are reinforcing their presence in the state, with the NYSE opening a Texas outpost and Nasdaq planning a regional headquarters.