In a bold maneuver sure to make even the most seasoned cattle rustler blush, Texas-based TXSE Group is launching a new national stock exchange aimed at challenging the New York Stock Exchange (NYSE) and Nasdaq. The Texas Stock Exchange (TXSE), based in Dallas and backed by heavy hitters like BlackRock and Citadel Securities, is gearing up to lasso a significant share of the stock market.

The brainchildren behind TXSE are not just all hat and no cattle. They've assembled a formidable war chest, raising $120 million in funding with the help of over two dozen investors. This new venture is set to file for registration with the U.S. Securities and Exchange Commission later this year, aiming for a launch in 2026. In true Texan fashion, they’ll probably christen their new building with a barbecue and a mechanical bull.

TXSE Group’s grand plan is about more than just drawing gunfights at noon with Wall Street. Their initiative is driven by a ripe market demand from investors and corporations in Texas and the southeast U.S., who are eager for expanded alternatives to trade and list equities. Now, they'll have an option much closer to home, which means less jet lag for those all-important IPO parties.

Texas is no stranger to wielding economic power. Home to more Fortune 500 companies than any other state, including giants like Exxon Mobil, AT&T, Tesla, and American Airlines, it’s safe to say the Lone Star State has more than enough horsepower to back such an ambitious project. This new exchange promises to relieve the burden of intensified reporting requirements, higher litigation expenses, costly regulations, and overbearing board governance that have turned the current public markets into a bureaucratic rodeo.

One of the main goals for TXSE appears to be reversing the trend of companies staying private, a phenomenon that has led to a notable decrease in the number of public companies. By offering a more streamlined and business-friendly environment, the Texas Stock Exchange aims to expand access to U.S. capital markets for all investors, while also providing greater alignment for public companies and those seeking public capital.

For those keeping track at home, Texas, with its significant economic muscle, is positioning itself as a new hub of the financial universe. The TXSE Group is banking on the iconic image of Texas—a place where bigger is always better and independence is a way of life—to attract businesses tired of the East Coast’s stuffy financial districts.

Of course, launching a stock exchange is no small feat, but if there’s one thing Texans know, it’s how to think big. And if nothing else, the promise of cowboy boots, barbecue, and maybe even a little two-stepping at the closing bell might be enough to give the seasoned players of Wall Street a run for their money. So, grab your Stetson and get ready; the bulls are about to start running, Texas-style.