Texas Stock Exchange adopts corporate listing fee schedule

On October 20, 2026, the Securities and Exchange Commission published a notice that Texas Stock Exchange LLC filed a proposed rule change on October 7, 2026 (Release No. 34-106704; File No. SR-TXSE-2026-040). The proposal adds Section G to the Exchange's Fee Schedule and is effective immediately upon filing.

The rule establishes a one-time Entry Fee of $325,000 for a first-time listing, with a reduced $80,000 fee for acquisition companies or SPACs. Companies transferring a listing from another national exchange are exempt from the Entry Fee.

An Initial Application Fee of $25,000 is required for the first application to list an equity security. The fee is non-refundable but is credited in full against the applicable Entry Fee if the company proceeds to list. Transfer applicants are exempt from this fee, and a company that pays the fee but does not list immediately may avoid a second fee if it retains a registration statement or refiles within 24 months.

Annual fees are assessed on a per-share basis at $0.001250 per share, subject to a $70,000 minimum for common shares, a $15,000 minimum for other classes, and a $250,000 maximum. Examples in the filing show a company with 40 million shares paying the $70,000 minimum, a company with 100 million shares paying $125,000, and a company with 300 million shares hitting the $250,000 cap. Companies with dually-listed securities incur a flat $600,000 annual fee. Transfer exemptions also apply to the All-Inclusive Annual Fee for the transfer year.

The Exchange's Board may defer or waive any portion of the fees, consistent with the Exchange Act's requirements for equitable allocation. The Commission is publishing the notice to solicit comments from interested persons.