The Texas Stock Exchange officially launched full operations on July 31, 2025, enabling trading across all National Market System symbols. The exchange raised $250 million from over 80 institutional investors, including BlackRock (managing approximately $13.5 trillion in assets), Citadel Securities, and J.P. Morgan. Based in Dallas and fully electronic, TXSE aims to attract IPOs and secondary listings, benefiting from Texas’s lack of corporate income tax. The exchange has deliberately excluded crypto assets from its platform, focusing exclusively on traditional equities. The main challenge will be attracting sufficient liquidity to compete with NYSE and Nasdaq.
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