The Lone Star State’s very own stock exchange is set to launch next year, with Gov. Greg Abbott celebrating the milestone at the Governor’s Mansion.
“Texas has become the home of capital in the United States,” Abbott said during a press conference on Monday. “Today, our great state is staking its claim as a hub for capital markets with the addition of the Texas Stock Exchange. This is another step that expands our financial influence in the United States and strengthens our economic power on the global stage.”
“The Texas Stock Exchange will ensure that businesses have greater access to capital and that market participants have more options. Texas is the modern embodiment of the American Dream, where everyone has the opportunity to succeed. The Texas Stock Exchange will help even more businesses reach that success,” he added.
The Texas Stock Exchange, or TXSE (pronounced “Tex-see”), will be based in Dallas. Chairman James Lee announced that the effort has already raised $135 million, making it “the most well-capitalized national securities exchange applicant to ever file a registration with the SEC.”
According to a report from Texas Policy Research, the TXSE is designed to break away power from Wall Street:
One of the primary motivations behind the Texas Stock Exchange is its promise to “buck” Wall Street’s system. Advocates of the exchange argue that Wall Street has become increasingly detached from the real-world interests of American businesses, focusing on short-term profits, ESG initiatives, and corporate activism. Many Texas-based businesses and investors believe these priorities do not reflect the state’s economic reality, where energy, technology, and traditional industries remain critical.
The Texas Stock Exchange is positioning itself as a more business-friendly alternative. Instead of following trends that some see as driven by political and social pressures, TXSE will offer a platform that prioritizes free-market principles, entrepreneurship, and innovation. As explained by John McCullough, a legal expert who has closely studied the exchange, this new financial platform is “designed to reflect the values that have long made Texas an attractive place for business: low taxes, minimal regulation, and a fierce commitment to individual freedom.”
In practical terms, the TXSE is expected to offer more favorable listing requirements for companies, making it easier for small and medium-sized enterprises to go public. By reducing some of the compliance costs associated with listing on the New York Stock Exchange or NASDAQ, TXSE hopes to attract companies that may feel overlooked by larger exchanges.
Additionally, the exchange’s leadership team was revealed, including former Gov. Rick Perry. Perry has been in the news recently for his “volunteer” advisory role with embattled House Speaker Dade Phelan and his spokesperson position for the Sports Betting Alliance, a group advocating for the legalization of mobile sports gambling in Texas.
Chairman Lee outlined the next steps for the exchange, which include submitting their registration to the Securities and Exchange Commission.
“Pending approval, we plan to execute our first trades by the end of next year and begin launching listings in early 2026,” said Lee.
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