Federal Register #SR-TXSE-2026-038

TXSE proposal for revenue-sharing credits for eligible listed companies

The Securities and Exchange Commission is reviewing a proposed Texas Stock Exchange program that would share certain revenues with eligible listed companies. - Government agency: Securities and Exchange Commission (SEC). - Filing organization: Texas Stock Exchange LLC (TXSE). - Proposed program: Annual credits for eligible companies whose securities are primarily listed on TXSE. - Credits would be 30% of qualifying opening and closing auction transaction revenue, 30% of proprietary market data revenue (capped at $100,000 per issuer), and 30% of the company’s prior-year annual listing fees. - Companies could apply credits toward eligible listing fees or elect to receive payment. - Acquisition companies would be ineligible until completing a business combination. - This is a proposed exchange rule change seeking public comment, not a procurement. No products or services, quantities, or part numbers are requested.

Description

Texas Stock Exchange LLC proposes to adopt a Shared Listings Program for eligible corporate issuers whose securities are primarily listed on the Exchange. The program would provide annual credits based on auction transaction revenue, proprietary market data revenue, and annual listing fees, with specified calculation methods and limits. Eligible companies may apply the total credit to listing fees or elect to receive payment; acquisition companies are excluded before consummation of a business combination. The notice invites comments on whether the proposed rule change is consistent with the Securities Exchange Act.

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