The Dallas-based Texas Stock Exchange is expected to fully launch in 2026 and will seek to challenge the New York-dominated trading industry.

TXSE Group, which has raised $135 million and will be based in Dallas, names former Gov. Rick Perry and Energy Transfer co-CEO Tom Long to board; taps former Dallas Fed chief Richard Fisher as strategic advisor.

Gov. Greg Abbott says that the state's new stock exchange "will ensure that businesses have access to capital" and more choices.

The Texas Stock Exchange aims to begin trading as soon as next year if it can get approval when it registers with the SEC as a rival to the NYSE.

Founders say they have raised more than $135 million and will submit a registration to the U.S. Securities and Exchange Commission in the coming months.

Dubbed “Y’all Street” as the stock exchange looks to capitalize on Texas’ growing economic clout, CEO James Lee said the platform is looking to launch

The new Texas Stock Exchange plans to start trading in late 2025 from Dallas, with a leadership team that includes former Gov. Rick Perry. Why it matters: Gov. Greg Abbott hopes TXSE — pronounced "Tex-see" — will draw more companies to Texas and boost the state's already strong economy.

The Texas Stock Exchange announced a board of directors on Monday in its latest step toward building a national exchange to rival long-established platforms in New York and said it was gearing up to launch trading next year.

The group looking to launch the Texas Stock Exchange has raised more than $135 million from backers including BlackRock, Citadel Securities and Fortress Investment Group.