DALLAS — The Texas Stock Exchange will begin trading Monday to start a phased rollout throughout July.
The Dallas-based startup represents one of the most well-funded new stock exchanges to launch in decades. Thousands of public stocks will become available for trading over the course of the month.
Exchange officials expect to list exchange-traded products by the third quarter of this year. Corporate listings are scheduled to become available during the fourth quarter.
Texas state officials and exchange leaders hope the launch will solidify Dallas as a national financial hub. They also expect the exchange to boost the state economy by expanding the financial services industry.
Exchange officials stated Thursday that the start of production trading proves the exchange is no longer just theoretical.
University of Texas at Arlington Associate Professor of Finance Sriram Villupuram said Monday's launch is a critical test. Villupuram noted the exchange must demonstrate it can provide a viable alternative to the New York Stock Exchange and Nasdaq to attract companies.