Texas Stock Exchange Wins SEC Nod With Trading to Start in 2026

The Texas Stock Exchange is taking a big step closer to becoming a reality.

The US Securities and Exchange Commission approved the TXSE as a national securities exchange, a milestone in the marketplace’s bid to take a chunk of business from Nasdaq and the New York Stock Exchange. The regulatory nod keeps the TXSE on track to begin trading next year, the exchange said in a statement Tuesday.

TXSE founder Jim Lee vowed to focus on forging a “partnership with issuers and investors,” but the upstart exchange will face tough competition. Nasdaq and NYSE have been bolstering their presence in ...