The Texas Stock Exchange has the go-ahead. Photo via Getty Images

The U.S. Securities and Exchange Commission has given the go-ahead to the Dallas-based Texas Stock Exchange to operate as a national securities exchange, clearing the way for the TXSE to begin trading stocks and exchange-traded products by early 2026.

TXSE is the first fully integrated national securities exchange to receive SEC approval in decades. A release calls it "a milestone decision" that restores competition in America's public markets.

The organization has already laid the groundwork with an exchange platform utilizing the appropriate hardware and software that will function in an evolving trading and regulatory environment.

TXSE, which opened its headquarters in Dallas in spring 2025, will launch trading as well as ETP and corporate listings for companies that meet their standards and are fully transparent. Their goal is to compete with the NYSE and NASDAQ by building up a large roster of newly listed companies.

"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," says TXSX founder and CEO James H Lee. "Real competition for corporate listings in the United States has finally arrived."

According to the release, TXSE's mission is to reverse a decades-long decline in the number of U.S. public companies by reducing the burden of going and staying public while maintaining high quantitative standards in the industry.

They've already pushed for legislative and legal reforms to strengthen Texas' pro-business environment and establish the state as the premier jurisdiction for corporate headquarters, listings, and exchange operators — working alongside Texas leadership to advocate on behalf of issuers and investors to reform policy.

"As the one and only national securities exchange built and headquartered in Texas, we are proud to have been the catalyst for the development of capital markets in our great state," Lee says.

TXSE's founding investors include financial institutions, retail, and institutional investment organizations, including BlackRock, Citadel Securities, and Charles Schwab, as well as major liquidity providers and corporate executives from across the U.S.

TXSE will be one of three exchanges to join Texas' so-called economic hub Y’all Street, along with the New York Stock Exchange and NASDAQ.

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This article originally appeared on CultureMap.com.

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TMC launches new biotech partnership with Republic of Korea

international collaboration

Houston's Texas Medical Center has launched its new TMC Republic of Korea BioBridge.

The new partnership brings together the TMC with the Osong Medical Innovation Foundation, or KBIOHealth. The Biobridge aims to support the commercialization of Korean biotech and life science startups in the U.S., foster clinical research, and boost collaboration in the public, private and academic sectors.

Through the partnership, TMC will also develop a Global Innovators Launch Pad to foster U.S. market entry for international health care companies. Founders will be selected to participate in the 10-week program at the TMC Innovation Factory in Houston.

“Gene and cell therapies are driving biotech innovation, opening possibilities for treating diseases once thought untreatable," William McKeon, president and CEO of the Texas Medical Center, said in a news release. "Expanding biomanufacturing capacity is essential to delivering the next wave of these therapies, and partnerships with leading innovators will strengthen our efforts in Houston and internationally.”

McKeon officially signed the TMC Korea BioBridge Memorandum of Understanding with Myoung Su Lee, chairman of KBIOHealth, in South Korea in October.

"This collaboration marks a significant milestone for Korea’s biohealth ecosystem, creating a powerful bridge between Osong and Houston," Lee added in the release. "By combining KBIOHealth’s strength in research infrastructure and Korea’s biotech talent with TMC’s global network and accelerator platform, we aim to accelerate innovation and bring transformative solutions to patients worldwide.”

This is the seventh international strategic partnership for the TMC. It launched its first BioBridge with the Health Informatics Society of Australia in 2016. It launched its TMC Japan BioBridge, focused on advancing cancer treatments, last year. It also has BioBridge partnerships with the Netherlands, Ireland, Denmark and the United Kingdom.