The nascent Texas Stock Exchange boosted its total capitalization to $270 million with the addition of $20 million from a new group of investors led by Goldman Sachs and Bank of America.
The new investment was reported by Bloomberg News Monday.
TXSE Group Inc., the parent company of Texas Stock Exchange, announced that it had received approval from the Securities and Exchange Commission on Sept. 30. Although no date certain has been announced, the Dallas-based exchange plans to begin trading ETFs in 2026, perhaps as early as before the end of Q1.
As of October 30, the company said it had $250 million making it “the most well-capitalized exchange ever approved by the SEC.
RELATED: TXSE, Toronto Stock Exchange Resolve Trademark Suit
Earlier investors included BlackRock, Citadel Securities, Charles Schwab, J.P. Morgan, Dell Family Office Management, Fortress, Jump Trading, Squarepoint, Susquehanna Private Equity Investments and Tower Research. According to Bloomberg, approval of the latest batch of investments would bring the total number of equity investors in the exchange to 86.
The new exchange not only faces competition in Texas from new regional exchanges approved by the New York Stock Exchange and Nasdaq, but nearly three decades of decline in participation in public markets. Since 1996, the number of publicly traded companies has dwindled from 8,090 publicly traded companies to a little more than 4,000.
“TXSE aims to reverse this trend,” the company says on its website.