AUSTIN (KXAN) — Gov. Greg Abbott hosted the Texas Stock Exchange (TXSE) at the Governor’s Mansion Monday, as the group of financiers seeks entry into the U.S. Securities and Exchange Commission.
“Texas already has become the home of capital in the United States of America,” Abbott said. “Today, we are staking a claim as a home of capital markets with the addition of the Texas Stock Exchange.”
The Texas Stock Exchange (TXSE) will operate from Dallas as a “national exchange offering global access for companies to list and trade their shares,” TXSE Group Inc. founder and CEO, James Lee, said.
Pending approval from the Securities and Exchange Commission, the first trades will be executed at the end of 2025, with listings launched in early 2026. Once established, the TXSE will face competition from other major stock exchanges like the New York Stock Exchange and NASDAQ.
“With those first trades and listings, Dallas will become a new hub for capital markets in the United States,” Lee said.
Abbott called the announcement “transformational,” adding that the state is already an “economic juggernaut.” Abbott said that only seven countries have economies larger than Texas.
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Gov. Greg Abbott hosted the Texas Stock Exchange (TXSE) at the Governor’s Mansion Monday, as the group of financiers seeks entry into the U.S. Securities and Exchange Commission. (KXAN Photo/Frank Martinez) -
Gov. Greg Abbott hosted the Texas Stock Exchange (TXSE) at the Governor’s Mansion Monday, as the group of financiers seeks entry into the U.S. Securities and Exchange Commission. (KXAN Photo/Frank Martinez) -
Media staged ahead of Gov. Greg Abbott’s event about the Texas Stock Exchange. A group of financiers seeks entry into the U.S. Securities and Exchange Commission with a new stock exchange in Dallas. (KXAN Photo/Frank Martinez) -
Gov. Greg Abbott hosted the Texas Stock Exchange (TXSE) at the Governor’s Mansion Monday, as the group of financiers seeks entry into the U.S. Securities and Exchange Commission. (KXAN Photo/Frank Martinez) -
Former Texas Gov. Rick Perry outside of the governor’s mansion on Sept. 30, 2024. (KXAN Photo/Frank Martinez)
“A stock exchange in Texas has long been a vision of mine,” Abbott said. “Today’s announcement is the next logical step in the trajectory of business in Texas.”
Back in June, TXSE Group Inc. announced plans to register with the SEC, already backed by major investing firms and raising about $120 million in capital. As of Monday, TXSE has already raised more than $135 million. They previously announced plans for a physical headquarters in Dallas, called the Texas Market Center, and will operate as a fully electronic national securities exchange.