Meet the Texas Stock Exchange: Wall Street Finally Gets Competition

Backed by major institutions and a booming state economy, the TXSE is positioning itself as a pro-business alternative to the NYSE and Nasdaq.

Traders work on the floor of the New York Stock Exchange in a file photo. Stephen Chernin/Getty Images

Commentary

For more than a century, America’s stock listings have been dominated by two addresses: Wall Street’s New York Stock Exchange and Nasdaq’s MarketSite in Times Square. That may soon change. On Sept. 30, 2025, the U.S. Securities and Exchange Commission approved the Texas Stock Exchange (TXSE) to operate as a national securities exchange.