Bank of America and Goldman Sachs are leading a new investment round of approximately $20 million into TXSE Group, the parent company of the Texas Stock Exchange. This capital infusion brings the total raised by the Dallas-based exchange to $270 million.
The investment positions Bank of America as a key backer of a new platform designed to compete directly with established U.S. market leaders, Nasdaq and the New York Stock Exchange (NYSE).
The investment group also features several other major financial institutions, including JPMorgan Chase & Co., BlackRock Inc., and Citadel Securities. The Texas Stock Exchange recently gained approval from the U.S. Securities and Exchange Commission (SEC).
The exchange aims to commence trading operations in 2026. Management states the initiative seeks to bring more innovation and competition to the U.S. capital markets. No specific market reaction analysis regarding Bank of America’s stock was immediately available following the announcement.