Texas is taking its biggest step yet toward becoming a financial powerhouse.
The Texas Stock Exchange will officially launched Monday in Dallas at 8:30 a.m., marking the start of what supporters hope will become a major competitor to the New York Stock Exchange and Nasdaq.
The exchange is opening with a phased rollout, beginning with members trading test stocks. Over the coming months, thousands of stocks and other equities are expected to become available, with exchange-traded funds anticipated as early as this fall. Corporate listings are expected later this year, while the first initial public offerings are projected for early 2027.
Backed by $275 million in funding, the Dallas-based startup behind the exchange says the goal is to create more opportunities for Texas companies and investors while helping establish the Lone Star State as a leading financial hub.
According to the governor’s office, Texas has an estimated $2.9 trillion economy, the eighth largest in the world if it were its own country. Supporters say the new exchange could help attract more financial jobs, businesses and investment to the state.
While Monday’s opening is largely behind the scenes, officials say the exchange is expected to expand steadily over the coming months.