TXSE Group, the parent company of the Texas Stock Exchange announced a second-round of fundraising Friday, bringing its total capitalization to more than $250 million.
Among new investors is J.P. Morgan, the investment banking arm of the largest bank in the world by market capitalization, JPMorgan Chase. The banking giant will take an observational seat on TXSE Group’s board of directors.
“Our strong capital position validates our mission to bring increased competition to the U.S. capital markets,” said James H Lee, founder and CEO of TXSE Group, in a statement.
“The Texas Stock Exchange’s focus on alignment and transparency for issuers will alter the trajectory of our public markets and help establish Texas as a new global leader in capital markets.”
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A month ago, TXSE announced it had received approval from the U.S. Securities and Exchange Commission to operate as a fully recognized bourse.
It did so as the most well capitalized exchange to ever file with $161 million in initial backing, the exchange said.
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J.P. Morgan joins a host of financial powerhouses supporting TXSE Group, including BlackRock, Citadel Securities, and Charles Schwab, who all represent different pillars of capital markets.
In total, TXSE Group now has 82 equity holders, according to the release.
Notably, this includes several powerful exchange traded product sponsors, representing 898 ETPs with $8.5 trillion in combined assets under management, two-thirds of the total ETP market.
TXSE plans to begin trading in the first quarter of 2026, with listings of exchange traded products and companies coming after.
In addition to the exchange, TXSE Group is also parent to Oculon Intelligence, an artificial intelligence-powered software platform for market data analytics that launched in early September.
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