SEC Approves Texas Stock Exchange

The SEC has approved the Texas Stock Exchange (TXSE), the first new fully integrated U.S. stock exchange in decades and the only one based in Texas. TXSE is set to launch trading services, as well as exchange-traded products, known as ETPs, and corporate listings, in 2026. CBS News reports: Exchange-traded products are financial instruments that follow the performance of underlying assets such as stocks, indexes or other financial benchmarks. Like stocks, ETPs are traded on public exchanges, allowing investors to buy and sell them throughout the trading day at market prices that fluctuate in real time. TXSE was backed by wealth management giant BlackRock and market maker Citadel Securities, among other firms. The Texas company said in June 2024 that it raised a total of $120 million from more than two dozen investors. TXSE's headquarters in Dallas opened this spring, the group said.

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