SEC Approves Texas Stock Exchange for 2026 Launch

The Texas Stock Exchange (TXSE), a Dallas-based all-electronic national securities exchange, won SEC approval of its Form 1 registration — the first fully integrated national exchange greenlit in decades — clearing the way to begin listing shares in 2026. TXSE will operate without a trading floor, use a primary data center in New Jersey with support centers in Dallas and Chicago, and initially focus on dual listings. Led by CEO James (Jim) Lee and backed by investors including Kelcy Warren (estimated ~32.7% ownership), BlackRock, Citadel Securities and Charles Schwab, TXSE is positioning itself to challenge the NYSE and Nasdaq by capitalizing on Texas’s pro-business push and corporate relocations. The exchange emphasizes governance independence, simpler order types and strict continuing listing standards that its backers say could result in roughly 1,500 current public companies losing listings. TXSE faces steep competition from entrenched incumbents and other firms expanding into Texas, but supporters argue increased exchange competition is needed amid the long-term decline in U.S. public companies.