Texas Stock Exchange (TXSE): Listing Requirements and IPO Guide

Headquarters

Dallas, United States

Region

North America

Market Focus

New Entrant & Listings Competition

Overview

The Texas Stock Exchange is a fully electronic national securities exchange headquartered in Dallas. It received SEC approval on 30 September 2025 and began live trading on 10 July 2026, backed by large asset managers and trading firms.

Its stated aim is to bring real competition to US corporate listings and lower the cost of being public. The exchange planned to add exchange-traded product listings in the third quarter of 2026, corporate transfers in the fourth quarter, and initial public offerings from 2027.

Known For

The first fully integrated US exchange, combining trading and listings, to launch in decades
Dallas's growth as a US financial centre
A focus on issuer-friendly listing costs and rules
Part of a wider Texas trend, with NYSE Texas and Nasdaq Texas also opening

Listing Considerations

As a new venue, trading volume and market depth are still being established
Dual listing alongside an existing NYSE or NASDAQ listing is an early option
IPOs are planned from 2027, so timing matters for companies preparing to list
Full SEC reporting obligations apply, as on any US national exchange

Key Facts

Founded

2023 (trading from July 2026)

Operator

TXSE Group

Regulator

U.S. Securities and Exchange Commission (SEC)

Main Index

None yet (new exchange)

Currency

US dollar (USD)

Trading Hours

9:30 a.m. – 4:00 p.m. ET, Monday–Friday

Market Segments

Single listing tier

Official website →

Listing Requirements

One listing tier aimed at mid- and large-cap companies
Mandatory confidential pre-application review before a formal application
Minimum bid price of $4.00 for initial and continued listing
Quantitative standards broadly in line with the NYSE and Nasdaq Global Select Market
Corporate transfers from the fourth quarter of 2026; IPOs planned from 2027

Based on TXSE's SEC-approved rules and launch announcements, checked November 2026. TXSE is still finalising how its standards are applied.

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