(Reuters) -TXSE Group said on Friday Wall Street behemoth J.P. Morgan had made a strategic investment in the company, becoming the latest to join a roster of marquee backers of the Texas Stock Exchange-parent.

The total capital raised by TXSE, backed by financial heavyweights BlackRock, Charles Schwab and Citadel Securities, is now more than $250 million, with the exchange preparing to launch in early 2026.

Analysts say this marks the first serious challenge to a market long dominated by the New York Stock Exchange and Nasdaq in a virtual duopoly since the 2000s.

“The Texas Stock Exchange’s focus on alignment and transparency for issuers will alter the trajectory of our public markets and help establish Texas as a new global leader in capital markets,” TXSE’s Founder and CEO James Lee s

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