The Texas economy expanded faster than the nation in 2023 at an annual rate of 7.4% while the nation expanded at 2.9%. Data by the Bureau of Economic Analysis (BEA) was measured by the change in real gross domestic product (GDP) from 2022 to 2023.
Governor Greg Abbott says this type of data is the reason why Texas Stock Exchange, or TXSE, is set to go live in 2025. Founder/CEO Jim Lee says it was a no-brainer given Texas’ $2.4 trillion economy.
TXSE comes at a time when many companies are expressing dissatisfaction with the escalating compliance costs associated with the NASDAQ and the New York Stock Exchange (NYSE). Leveraging Texas’s favorable regulatory and tax environment, TXSE has already raised more than $135 million from individual investors and large firms.
The Texas Stock Exchange still has to get federal approval from the Securities and Exchange Commission. “Pending approval, we will execute our first trades at the end of next year and launch listings in early 2026,” said Lee. It will operate electronically from Dallas as a national stock exchange with companies from around the world able to trade and list their shares.
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