The US just got a new stock exchange, and it’s wearing cowboy boots. The Texas Stock Exchange officially began live trading on July 6, rolling out all tickers as it moves to steal market share from the two venues that have dominated American equity trading for decades.
TXSE, headquartered in Dallas, isn’t some scrappy startup running on vibes and venture capital. The exchange raised roughly $250 million in its second funding round, with a backer list that reads like a Wall Street all-star roster: BlackRock, Citadel Securities, and J.P. Morgan.
How TXSE got here
The SEC gave TXSE its stamp of approval on September 30, 2025, granting the company’s Form 1 registration as a national securities exchange. That cleared the path for a phased launch strategy that started with test symbols and is now expanding to cover all National Market System equities.
The exchange’s pitch to potential users centers on three things: greater transparency, competitive pricing, and the general pro-business tilt of the state of Texas.
