TXSE Group, based in Dallas, Texas, has announced that the Securities and Exchange Commission has formally approved the Texas Stock Exchange’s (TXSE) Form 1 registration to operate as a national securities exchange. TXSE claims to be the most well-capitalized equities exchange to ever be approved by the SEC.
TXSE apparently worked with the SEC staff during the approval and public comment process.
James H Lee, founder and CEO of TXSE and its parent company, TXSE Group said:
“Today’s approval marks a pivotal moment in our effort to build a world-class exchange rooted in alignment, transparency, and partnership with issuers and investors … “The State of Texas has a long-term vision for driving economic growth, streamlining regulations, and building financial infrastructure as liquidity clusters shift to North Texas.”
TXSE will introduce trading and ETPs, along with corporate listings, next year. Over the long term, TXSE’s mission is to reverse the decline in the number of U.S. public firms by reducing the burden of going and remaining public while maintaining the quantitative standards set by the industry.
TXSE has led the push for various legislative and legal reforms to strengthen Texas’s pro-business environment. It has also focused on establishing the state as the jurisdiction for corporate headquarters, listings, as well as exchange operators.
As stated in the announcement, TXSE plans to continue working with Texas leadership to advocate on behalf of issuers and investors for policy reform at the state, federal, and regulatory levels.