JPMorgan Leads $90 Million Investment in Texas Stock Exchange

JPMorgan Chase & Co. is leading a group that’s investing about $90 million in a second round of financing for the Texas Stock Exchange, giving a boost to the Dallas-based upstart as it angles for a piece of a market dominated by Nasdaq and the New York Stock Exchange.

The deal brings the total capital raised for the Texas Stock Exchange to more than $250 million, parent company TXSE Group said in a statement Friday. JPMorgan will join TXSE Group’s board of directors as an observer.

“Our strong capital position validates our mission to bring increased competition to the ...