Overview

• The SEC on Sept. 30 granted TXSE registration as a national securities exchange, marking the first such approval in decades.
• TXSE plans to launch fully electronic trading in Dallas in early 2026 and to begin pursuing corporate listings later that year.
• Backing for the venture exceeds $160 million from investors that include BlackRock and Citadel, according to the company’s disclosures.
• President Donald Trump and Texas Gov. Greg Abbott publicly praised the approval, with Trump predicting New York would lose “Hundreds of Billions of Dollars” as business shifts from NYSE and Nasdaq.
• The SEC order cited supportive comments highlighting potential gains in competition and pricing transparency, while recent Texas legal reforms and a proposed ban on securities transaction taxes on November’s ballot aim to attract issuers.