The Texas Stock Exchange officially opened this week, marking a major milestone for a project that aims to bring more competition to U.S. equity markets and further establish Texas as a financial powerhouse.
Trading began Monday with a designated group of test securities as part of a phased rollout. Live trading with an initial set of symbols begins Friday, July 10, while all National Market System symbols are expected to be available by the end of the month. Exchange-traded products (ETPs) are slated to launch later this year.
Headquartered in Dallas, the TXSE bills itself as the only national securities exchange "built, headquartered, and incorporated in Texas." It has also touted being the "most well-capitalized securities exchange to ever be approved by the Securities and Exchange Commission (SEC)," having raised more than $275 million from investors including BlackRock, Citadel, Charles Schwab, and JPMorgan Chase. The SEC approved the exchange in September 2025.
The exchange arrives as North Texas continues to attract major financial firms and corporate relocations. TXSE has pointed to the Southeast's growing "boom belt" economy—from Texas to the Carolinas—as the "center of gravity for American Capitalism," borrowing a phrase Gov. Greg Abbott used during an April TXSE event. The region is home to 125 Fortune 500 headquarters and has led the nation in both economic and population growth.
Dr. James Kolari, a finance professor at Texas A&M University's Adam C. Sinn '00 Department of Finance, believes the exchange could become a catalyst for even more investment in the state.
"When we put this financial engine up in Dallas, or in Texas, we're going to attract capital," Kolari told The Texan.
He said the exchange should help draw additional businesses to Texas, building on years of corporate relocations fueled by the state's business-friendly policies. He also sees the TXSE playing a role in financing the next generation of technology projects.
"You have to attract the capital to build that AI infrastructure, and how you get that capital is through something like this," Kolari said.
He described the exchange as "a financial engine" that will support growth in both Texas and the broader U.S. economy.
"If you want to have better schools, better roads, and a better country, you need a stock exchange," he said.
Kolari called the launch a "tremendous leap" for Texas' financial sector, adding, "We strengthen not only our state but our entire nation as well."
The TXSE is also joining an increasingly competitive marketplace in Dallas. Last year, the New York Stock Exchange announced it would move its Chicago electronic equities exchange to Dallas under the NYSE Texas banner. Nasdaq followed with plans for a regional headquarters in the city, adding to the area's growing concentration of financial institutions alongside Goldman Sachs, JPMorgan Chase, and Charles Schwab.
Kolari said that competition between exchanges ultimately benefits companies and investors alike.
"By having competition, you're going to have better stock exchanges and lower prices. More funds will be attracted to them, and they'll become stronger," he said.
"Texas is just growing rapidly. We have a demand for capital, and it couldn't come at a better time in our history to build this financial engine. We have great banks, but we need a securities market."
"This completes our financial system."
The exchange's launch follows several legislative changes aimed at making Texas more attractive to financial markets. Last May, Abbott signed Senate Bill 1058 and House Joint Resolution 4, which created tax incentives for stock exchanges operating in Texas while prohibiting a stock exchange transaction tax and occupations tax. Abbott also signed Senate Bill 29 that same day.
At the time, Abbott said, "Business decisions are to be made by the elected officers and shareholders, not by unelected judges."
"These three laws will solidify our status as the best state for doing business for many years to come."
Abbott celebrated the TXSE's opening this week in a post on X, writing, "Welcome to Y'all Street! Texas is bringing more competition, more opportunity, and more economic freedom to the national stage."
TXSE Group Inc. Founder, Chairman, and CEO James Lee previously praised the governor's legislative efforts, saying, "Texas will now be the No. 1 choice for corporate registrations and relocations, as well as the premier destination for securities listings."
