The Texas Stock Exchange just did something no one has pulled off in decades: it opened a brand new, fully operational stock exchange in the United States and started trading every ticker on the National Market System. As of July 31, TXSE went live with all NMS symbols, completing a methodical rollout that began with test symbols on July 6 and initial live trading on July 10.
How TXSE got here
The exchange secured SEC approval on September 30, 2025, after raising $250 million from more than 80 institutional investors. That roster reads like a who’s-who of traditional finance: BlackRock (managing roughly $13.5 trillion in assets), Charles Schwab ($11.6 trillion in client assets), Citadel Securities, and J.P. Morgan all wrote checks.
Rather than flipping a single dramatic switch on opening day, TXSE chose a phased rollout designed to prioritize system stability. Test symbols went first on July 6. Four days later, live trading began on a subset of NMS tickers. By July 31, every symbol was available.
The exchange operates fully electronically, headquartered in Dallas, with no trading floor.
