TXSE, which has its headquarters in Dallas, was established to give US and foreign organizations access to the US equity capital markets.

A statement claims that it would also provide an increasing "universe of exchange-traded products" in addition to a platform for trading and listing public corporations.

Later this year, TXSE plans to register as a national securities exchange with the US Securities and Exchange Commission (SEC). TXSE will be entirely electronic.

The significant liquidity supplied by "more than two dozen investors," which includes a number of industry angels and firms like Citadel Securities and BlackRock, has allowed for this scheduled debut.

TXSE claims that with the over $120 million in cash obtained, it will be the “most well-capitalized exchange entrant ever” to register with the SEC.

James Lee, the founder and CEO of TXSE Group, muses on the necessity for a new exchange, stating that "changes in equities trading markets are driving more volume to exchanges and more choices for issuers and sponsors."

"TXSE will eventually increase competition in the areas of quote activity, liquidity, and transparency, leading to more stable and dependable markets that benefit liquidity providers, global issuers, and investors equally," says Lee.