The Texas Stock Exchange Group (TXSE), the company behind the new stock index in the southern United States, secured the backing of JP Morgan, which joined as a strategic investor, bringing TXSE’s total funding to more than $250 million.
The largest bank in the United States thus joins an initiative supported by BlackRock, Citadel Securities, and Charles Schwab. JP Morgan will hold an observer role on the board of directors following its entry into TXSE’s share capital, with the Texas trading floor set to be inaugurated in the first quarter of 2026.
“Our strong financial position supports our mission to increase competition in U.S. capital markets,” said James Lee, founder and CEO of TXSE.
“TXSE’s focus on alignment and transparency for issuers will change the trajectory of our public markets and help establish Texas as a new global leader in capital markets,” he added.
TXSE highlighted that 82 financial entities and business leaders back the group, including companies with a combined market capitalization of more than $2 trillion or managing $8.5 trillion in assets.
