Texas Stock Exchange Breaks NY Duopoly

The SEC approved the Texas Stock Exchange, a fully integrated venue backed by BlackRock and Citadel, to begin listings and ETP trading in 2026. A new national exchange after decades of NYSE/Nasdaq dominance could pressure fees, listing standards, and where companies choose to go public. — A credible challenger outside New York signals a geographic and regulatory rebalancing of U.S. capital markets with implications for corporate governance and regional economic power.