Texas Stock Exchange Gets Approval From SEC

Earlier today, the Securities and Exchange Commision (SEC) approved the Texas Stock Exchange (TXSE), as a national securities exchange. Making it the newest U.S. stock exchange in decades, and the only one based in the state of Texas.

The Texas Stock Exchange will challenge the longstanding New York Stock Exchange and Nasdaq. Texas is home to the most Fortune 500 companies in the country and over 5,000 private equity-sponsored companies.

TXSE has raised over $150 million, and has the backing of Wall Street giants like BlackRock, Citadel and Charles Schwab.

The founder and CEO of TXSE, James Lee, released the following statement after receiving news of the approval from the SEC:

“Today’s approval marks a pivotal moment in our effort to build a world-class exchange rooted in alignment, transparency, and partnership with issuers and investors.

Real competition for corporate listings in the United States has finally arrived.”