Abbott to host Texas Stock Exchange, business leaders at governor's mansion

AUSTIN (KXAN) — Gov. Greg Abbott is hosting the Texas Stock Exchange (TXSE) at the Governor's Mansion as the group of financiers seeks entry into the U.S. Securities and Exchange Commission.

He will be joined by TXSE Group Inc. Found and CEO James Lee and other state business leaders for a press conference to celebrate the state's economy and "leading position in the financial industry," according to a press release from the governor's office.

Back in June, TSE Group Inc. announced plans to register with the SEC, already backed by major investing firms and raising about $120 million in capital. They previously announced plans for a physical headquarters in Dallas but will be a fully electronic national securities exchange.

The TXSE will not be up and running immediately, as registering with the SEC is just the first step toward establishing an NSE. Once established, the TXSE will face competition from other major stock exchanges like the New York Stock Exchange and NASDAQ.

The press conference begins Sept. 30 at 10:30 a.m. Former U.S. Secretary of Energy and former Texas Governor Rick Perry will also attend as well as DFW-area State Reps. Giovanni Capriglione and Morgan Meyer.