Photo: ipopba / iStock / Getty Images
The Texas Stock Exchange (TXSE) officially launched in Dallas, marking the first new major U.S. stock exchange to open in decades and introducing fresh competition for Wall Street. The TXSE, nicknamed the "Tex-ee," began live trading for all its listed stocks, aiming to attract companies looking to list outside the traditional New York Stock Exchange and Nasdaq Composite.
The TXSE is backed by several major financial institutions, including BlackRock, Goldman Sachs, Charles Schwab, Citadel, and JP Morgan Chase, with total investments exceeding $275 million. The TXSE received its approval from the Securities and Exchange Commission in September 2025 and began trading in 2026.
Currently operating from temporary offices in Dallas' Uptown, the TXSE held a bell-ringing ceremony to celebrate its debut. The exchange plans to move into permanent headquarters at the new Bank of America Tower, which will be Uptown Dallas’ tallest building once finished. The future Texas Market Center there will feature executive offices, a business museum, and a broadcast studio.
TXSE leaders say their exchange is uniquely placed in the so-called "Boom Belt," a region stretching from Texas to the Carolinas that has seen rapid economic and population growth. The Boom Belt generates $8.9 trillion in annualized GDP, trailing only the U.S. and China globally, and accounts for 40% of American exports and 57% of recent U.S. job growth.
TXSE's CEO James Lee said, "Texas will now be the No. 1 choice for corporate registrations and relocations, as well as the premier destination for securities listings." Texas Governor Greg Abbott praised the launch, saying, "Texas is bringing more competition, more opportunity, and more economic freedom to the national stage."
TXSE intends to begin corporate listings later this year and expects to facilitate initial public offerings (IPOs) starting in 2027. The exchange touts new state laws that provide tax exemptions for stock exchanges and ban certain transaction taxes, which leaders say will make Texas even more attractive to businesses.
In response to Dallas' growing financial sector, both the New York Stock Exchange and Nasdaq have also expanded in Texas, opening regional hubs to allow dual listings. As competition heats up among exchanges in Texas, the TXSE says it is committed to making the Lone Star State a leading center for American finance.