Texas Stock Exchange Targets 2026 Launch, Plans to Upend Industry Landscape
The Texas Stock Exchange (TXSE) has taken a major step towards its 2026 launch by submitting paperwork to operate as a national securities exchange. Its parent company announced the milestone on Friday, expressing optimism that the U.S. Securities & Exchange Commission (SEC) will approve the application before the end of the year.
The proposed exchange aims to address the decline in publicly traded companies, tackling the high costs associated with going public and remaining listed. "This is a significant development," said Anne Peetz, a specialist in capital markets at Reed Smith LP.
TXSE has received $161 million in funding from over 40 investors, including industry titans like BlackRock, Citadel Securities, and Charles Schwab. It plans to position itself as a challenger to the dominant Nasdaq and New York Stock Exchange.
According to a fact sheet released by TXSE, its headquarters will be located in Dallas and will feature an "iconic bell-ringing venue." Market structure analysts emphasize the need for TXSE to offer competitive advantages to attract companies.
Governor Greg Abbott has hailed TXSE as a catalyst for expanding Texas's financial prowess globally. The state has recently attracted several high-profile companies, including Tesla, which relocated their headquarters due to favorable business conditions.