Jason described the Texas Stock Exchange (TXSE) plan as: file SEC registration documents later in 2024, start facilitating trades in 2025, and host its first new listing in 2026, based on contemporaneous reporting that BlackRock- and Citadel-backed TXSE intended exactly that timeline. (business-standard.com) In reality, TXSE did not file with the SEC in 2024; instead, TXSE Group announced that the exchange had filed for registration around February 1, 2025, alongside news that it had raised about $161 million in capital. (news.bloomberglaw.com) Later, on September 30, 2025, the SEC approved TXSE to operate as a national securities exchange, with public statements now projecting that trading will begin in early 2026 rather than 2025, and that first listings are targeted for 2026. (reuters.com) Because the predicted 2024 filing and 2025 trading milestones were both missed, the overall timeline Jason gave has already failed, even though the goal of first listings in 2026 remains in place and cannot yet be fully evaluated.