Texas Stock Exchange launches in Dallas, challenging NYSE and Nasdaq

The Texas Stock Exchange (TXSE) began trading on Friday, marking the first new major U.S. stock exchange in decades. Based in Dallas and backed by BlackRock, Goldman Sachs and Charles Schwab, the venue aims to compete directly with the New York Stock Exchange and Nasdaq.

TXSE plans to start corporate listings later this year and to facilitate initial public offerings from 2027. It is operating from temporary offices in Uptown Dallas and will later move to the Bank of America Tower, where it will house the Texas Market Center.

The exchange positions itself as a product of the “Boom Belt,” citing rapid Texas economic growth, low taxes and a surge in job creation as reasons companies might list on the new platform.