By Corrie Driebusch
The Texas Stock Exchange is now open for trading-sort of.
The upstart exchange, backed by Wall Street heavyweights like BlackRock, is now trading a handful of test symbols on its live exchange starting today. The test is expected to last a few days before it transitions to phasing in all publicly traded stocks and funds. The first publicly traded stocks are expected to start trading on the live exchange as early as Friday, according to a person familiar with the matter.
TXSE, pronounced "tex-ee," plans to begin listing exchange-traded products on its exchange in the third quarter of this year, followed by corporate listings in the fourth quarter and new IPOs in 2027. The exchange aims to take on the U.S.-listing duopoly of the New York Stock Exchange and Nasdaq.
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