Texas Stock Exchange Receives SEC Approval

TXSE was created to reduce costs associated with being a public company, improve listing standards, and reduce regulatory burdens compared to listings on the New York Stock Exchange and Nasdaq. TXSE aims to capitalize on the significant growth in the Texas financial services sector, the continued economic growth in the Southeastern United States, and Texas’ pro-business reputation, including recent Texas legislation that has made the state more business-friendly. TXSE will be fully electronic, and its initial focus will be on dual listings for companies already listed on another exchange. It ultimately faces the challenge of attracting significant trading volume, but has the support of major investors, including BlackRock, Citadel Securities, Charles Schwab, and Texas billionaires Kelcy Warren and Paul Foster.

If your company is considering listing on the TXSE, we encourage you to contact your Vinson & Elkins team with any questions.