How to convert your company to Texas [step-by-step]

Attorney and CPA Chad D. Cummings examines the launch of the Texas Stock Exchange. The TXSE, based in Dallas and pronounced “Tex-ee,” went fully live on July 31, 2026 as the first new major U.S. stock exchange in decades. It has raised approximately $275 million from BlackRock, Goldman Sachs, JPMorgan Chase, Citadel Securities, Charles Schwab, and Jane Street Group. Corporate listings are expected in the fourth quarter of 2026, with the first IPOs planned for 2027. The same firms that built Wall Street are now funding the exchange that will compete with it. Governor Greg Abbott has called the Texas Stock Exchange the natural extension of a shift in the center of gravity for American capitalism toward the boom belt, a region now referred to as Y’all Street. Both the New York Stock Exchange and Nasdaq responded by opening their own Texas branches. Texas has spent the last two years assembling the full infrastructure: the Texas Business Court launched in September 2024, Senate Bill 29 codified the business judgment rule and other governance tools, and more than 25 companies representing over four trillion dollars in market value have committed to leaving Delaware for Texas since mid-2024. Dell, ExxonMobil, Tesla, SpaceX, and Samsung have already moved. Texas imposes no individual income tax and ranks 7th on the Tax Foundation’s 2026 State Tax Competitiveness Index. New York ranks 50th. The TXSE pitch centers on greater transparency, competitive pricing, and the pro-business orientation of the state. For companies considering transferring to Texas those factors now come with a stock exchange attached. Learn more: https://www.cummings.law/onboard/texas.html