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

See Full Page