On Tuesday, The Dallas Express posted an article about the Texas Stock Exchange (TXSE).
The article reports:
The Texas Stock Exchange (TXSE) began production, quoting, and trading operations on Monday, kicking off a phased rollout as a new national securities exchange based in Dallas.
The launch marks a significant milestone for the Dallas-headquartered startup, which aims to challenge the longstanding dominance of the New York Stock Exchange and NASDAQ. TXSE started with limited test symbols for approved members, with broader symbol availability planned throughout July.
The exchange will operate under the market center identifier “F.”
Trading hours include a pre-market session from 8:00 a.m. to 9:30 a.m., regular market hours from 9:30 a.m. to 4:00 p.m., and a post-market session from 4:00 p.m. to 5:00 p.m.
TXSE officials described the start of trading as a key step in proving the exchange’s viability. “With the start of full production trading, any last notions that TXSE is theoretical are instantly swept away,” a TXSE official stated.
Let’s look at some of the possible reasons that the Texas Stock Exchange might be opening. The Texas Constitution and Texas statutes prohibit levying a state personal income tax. Texas does not have a traditional corporate income tax–it imposes a franchise tax on businesses. That franchise tax rate is generally 1 percent for most businesses. The general corporate tax rate in New York City is 8.85 percent. Corporations with gross receipts over $1 million are subject to the General Corporation Tax.
The article concludes:
Gabriela von zur Muehlen, senior vice president and chief policy officer at the Texas Association of Business, added, “A homegrown national exchange means more jobs, more investment, and more growth opportunities for businesses and communities across the Lone Star State.”
The launch follows extensive preparation, including federal approvals and industry testing. TXSE is entirely electronic but headquartered in Dallas. Corporate listings are anticipated later in 2026.
Market participants were advised to complete connectivity and testing ahead of the launch. Additional rollout details are available on the TXSE website.
The development aligns with Dallas’ continued growth as a financial center, attracting major institutions and elevating the region’s profile in national markets.
Businesses are in business to make money. They will gravitate to places where it is the least expensive to do business.