91³Ô¹ÏÍø

Watch CBS News
Local News

SEC approves Texas Stock Exchange, first new U.S. fully integrated exchange in decades

By
S.E. Jenkins
Digital Content Producer, CBS Texas
S.E. Jenkins is a digital content producer for CBS Texas and the South region.
Read Full Bio
S.E. Jenkins

/ CBS Texas

The Securities and Exchange Commission approved Tuesday the Texas Stock Exchange (TXSE) as a national securities exchange, paving the way for the first new, fully integrated U.S. stock exchange in decades — and the only one based in Texas. 

"Today's approval marks a pivotal moment in our effort to build a world-class exchange rooted in alignment, transparency, and partnership with issuers and investors," said James H Lee, founder and CEO of TXSE and its parent company, TXSE Group Inc.

TXSE is on track to launch trading services, as well as exchange-traded products, known as ETPs, and corporate listings, in 2026.

What are ETPs? 

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.  

Texas Gov. Greg Abbott congratulated TXSE for receiving SEC approval to operate as a national securities exchange. 

"Texas is swiftly becoming America's financial hub," Abbott said Tuesday in a statement. "I congratulate the Texas Stock Exchange for the launch of Texas' own trading platform that will spur economic development and expand the financial might of our great state around the world. Working together, we will make Texas stronger and more prosperous than ever before."

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.  

Previous regional exchanges

Previous regional exchanges such as the Philadelphia Stock Exchange, Boston Stock Exchange and Chicago Stock Exchange merged with either the Nasdaq or the New York Stock Exchange after the introduction of laws by the SEC favoring automated trading platforms.

The economy of Texas 

Texas is home to the most Fortune 500 companies in the country and over 5,000 private equity-sponsored companies. There are also more than 1,500 publicly traded companies in the region. 

At $2.4 trillion, Texas' economy is larger than many countries', including Russia, Canada and Italy, according to a report from the governor's office.

In:

© 2025 CBS Broadcasting Inc. All Rights Reserved.

View CBS News In
CBS News App Open
Chrome Safari Continue
const link = doc.createElement('link'); link.rel = 'stylesheet'; link.href = '/fly/fly/bundles/cbsnewscontent/css/cmp-banner.min.css?v=50747257b890e014813016b79ece0fb2'; doc.head.appendChild(link); doc.body.innerHTML = CONSENT_MESSAGE; } else { el.insertAdjacentHTML('afterend', CONSENT_MESSAGE); } }); } function hidePrivacyMessage() { // Remove from the main document document.querySelectorAll(`.${CONSENT_MESSAGE_CLASS}`).forEach(el => el.remove()); // Remove from inside any iframes document.querySelectorAll('iframe').forEach(iframe => { const doc = iframe.contentDocument || iframe.contentWindow.document; doc.querySelectorAll(`.${CONSENT_MESSAGE_CLASS}`).forEach(el => el.remove()); }); } function activateGatedScripts() { // Handle both new format (cmp-gated-script) and old OneTrust/Ketch format (optanon-category-4) const gatedScripts = Array.from(document.querySelectorAll('script.cmp-gated-script, script.optanon-category-4')); // Activate scripts sequentially with a small delay to avoid timing issues let delay = 0; gatedScripts.forEach(function(placeholder, index) { setTimeout(function() { // Skip if already processed if (placeholder.hasAttribute('data-cmp-processed')) { return; } placeholder.setAttribute('data-cmp-processed', 'true'); const newScript = document.createElement('script'); newScript.type = 'text/javascript'; // Try new format first (data-cmp-src), then fall back to old format (data-src) const src = placeholder.getAttribute('data-cmp-src') || placeholder.getAttribute('data-src'); if (src) { newScript.src = src; } else if (placeholder.textContent) { // Inline script - just copy the content newScript.textContent = placeholder.textContent; } // Handle new format attributes (data-cmp-attrs) - for both inline and external scripts const attrs = placeholder.getAttribute('data-cmp-attrs'); if (attrs) { const tempDiv = document.createElement('div'); tempDiv.innerHTML = '
<\/div>'; const tempAttrs = tempDiv.firstChild.attributes; for (let i = 0; i < tempAttrs.length; i++) { // For external scripts, allow defer/async. For inline scripts, skip them (not valid) if (src || (tempAttrs[i].name !== 'async' && tempAttrs[i].name !== 'defer')) { newScript.setAttribute(tempAttrs[i].name, tempAttrs[i].value); } } } // Copy other attributes from old OneTrust format for (let i = 0; i < placeholder.attributes.length; i++) { const attr = placeholder.attributes[i]; // Skip attributes we've already handled or don't want to copy if (!['class', 'data-src', 'data-type', 'data-cmp-src', 'data-cmp-attrs', 'data-cmp-processed', 'type', 'async', 'defer', 'src'].includes(attr.name)) { newScript.setAttribute(attr.name, attr.value); } } placeholder.parentNode.replaceChild(newScript, placeholder); // If external script, manually trigger window.onload handlers after it loads // This handles widgets that use window.onload for initialization if (src) { newScript.addEventListener('load', function() { // If page already loaded and script set a new onload handler, trigger it if (document.readyState === 'complete' && window.onload) { const originalOnload = window.onload; window.onload = null; // Clear temporarily to prevent loops originalOnload(); // Execute the handler } }); } }, delay); delay += 500; // 500ms delay between each script to allow full loading }); } cbsoptanon.onScriptsReady(function(cmp) { cmp.ot.targetingAllowed(function(allowed) { if (!allowed) { showPrivacyMessage(); } else { activateGatedScripts(); } }); cmp.ot.awaitInitialConsent(function(consent_model) { cmp.ot.addOnConsentChangedHandler(function() { cmp.ot.targetingAllowed(function(allowed) { if (allowed) { hidePrivacyMessage(); activateGatedScripts(); } else { showPrivacyMessage(); } }); }); }); });