By Suzanne McGee

(Reuters) -The TXSE said on Tuesday that the SEC has approved its application to launch a new stock exchange, clearing the way for the Dallas-based Texas Stock Exchange to begin trading stocks and exchange-traded products by early 2026.

The venture, backed by investment industry heavyweights including BlackRock, Citadel Securities and Charles Schwab, aims to chip away at the dominance of the two existing national stock exchanges which, in addition to trading, offer listing services to companies seeking to tap into public markets in the U.S.

TXSE said it aimed to reduce the burden of going public and remaining publicly traded. According to data from the SEC, the number of publicly traded companies on U.S. exchanges has fallen to about 4,400 from a peak of more than 8,000

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