Greater San Antonio Chamber executives and local business leaders attended a recent breakfast meeting, hosted by K Harvey Brand Partners, to hear plans for the Texas Stock Exchange (TXSE) from Nicole Chambers, the exchange’s Global Managing Director of Listings. TXSE aims to become a business-friendly alternative to the New York Stock Exchange and Nasdaq in U.S. capital markets.
Headquartered in Dallas, TXSE is a fully electronic national securities exchange backed by major financial firms and investors. Chambers said the exchange will capitalize on Texas’ pro-business climate and its growing concentration of corporate headquarters.
The exchange is well on its way, as it has already received SEC approval, raised approximately $275 million, and built a team of nearly 100 finance and securities professionals. “We are very excited that in the third quarter, we will launch our trading platform,” Chambers said. “We are creating the next generation of trading engines. We
will be incredibly competitive in the market — if not more competitive than what’s out there.”
Once trading launches, TXSE plans to list Exchange-Traded Products (ETPs), including ETFs, which are outpacing broader U.S. market growth. By the fourth quarter, the exchange will begin listing companies and equities, and in 2027, it will launch its IPO program. “We’re here to compete,” Chambers said.
TXSE represents the first major effort in decades to challenge the New York-based exchanges. Supporters cite a broader geographic shift in economic power toward Sun Belt states, particularly Texas, and position TXSE as a more business-friendly alternative that reduces compliance burdens and costs.
In highlighting the challenges of current exchanges, Chambers discussed the decline in public companies — down 45 percent since the mid-1990s, and described TXSE as a “breath of fresh air” because it levels the playing field for companies considering public or private options for raising capital.
She also cited the “Texas Miracle,” emphasizing the state’s economic growth and pro-business environment: lower taxes, predictable regulation, abundant land and infrastructure, and a strong energy sector. “We (Texas) are in the business of making business easier,” she said.
Texas has attracted more than 200 corporate relocations since 2020 and is home to 54 companies on the 2025 Fortune 500 list, roughly one in ten publicly traded U.S. companies. With a Gross State Product of approximately $2.6-$2.8 trillion annually, Texas’ economy ranks among the largest in the world.
“Texas is a great place to live and a great place to work,” Chambers said. “Texas has a culture like none other as we want each other to succeed.”
Learn more about the Texas Stock Exchange here.