Waypoint Trading Solutions said it will offer connectivity to the Texas Stock Exchange (TXSE) from the exchange’s first day of operations, giving clients access to the new U.S. equities venue through the same provider they already use for existing exchanges, alternative trading systems, and overnight trading platforms.
TXSE enters a market still dominated by NYSE and Nasdaq
The move carries more weight than a routine connectivity announcement. It points to a shift in how competition is evolving across U.S. equity markets. TXSE is one of the few new entrants in years trying to launch a full national securities exchange that can compete directly with NYSE and Nasdaq for listings and secondary trading. The U.S. currently has 22 registered equity exchanges, though most are controlled by a small number of operator groups, including Intercontinental Exchange, Nasdaq, Cboe Global Markets, and MEMX.
TXSE has said it is building a proprietary trading platform designed for high throughput and low latency. Its stated goal is to create another listing venue for U.S. and international companies while adding competition across the equity market ecosystem.
Connectivity is now part of trading performance
The article argues that exchange access is no longer a commodity utility. Institutional investors, market makers, and quantitative firms now trade across exchanges, dark pools, ATS venues, crossing networks, and overnight markets at the same time. That has changed the basis of competition for infrastructure providers. Access matters, but so do latency, resilience, geographic reach, and operational reliability.
Waypoint groups its offering into three businesses: Radianz for global financial extranet and connectivity, Xpress for managed low-latency exchange access, and Sentinel for managed market data infrastructure. The company says it supports connectivity to more than 800 venues in over 70 countries and serves more than 1,000 financial institutions. In U.S. equities, it says it connects to all 22 exchanges.
Client demand pushed a day-one TXSE connection
Tom Lazenga, President of Waypoint Trading Solutions, said the decision was driven by customer demand. After TXSE was announced as a new trading venue, clients wanted connectivity to be available from launch, he said, adding that the company had a positive experience working with the TXSE team to establish the link.
Rick Yoder, Chief Technology Officer at TXSE, said broader connectivity through providers such as Waypoint would help market participants access the exchange at launch. He described TXSE’s platform as a modern proprietary system built for speed and throughput.
Fragmented markets are driving higher infrastructure spending
The announcement also fits a wider market pattern. Each new exchange, asset class, or trading window adds operational complexity for broker-dealers. Many firms now prefer managed infrastructure providers over maintaining dedicated links to every venue on their own. The appeal is standardization. The pressure is growing.
The report ties that trend to longer trading hours and new venue types. Regulators are reviewing structural changes in U.S. equities, including extended sessions, overnight execution, tokenized securities, and new listing venues. As overnight trading, tokenized assets, and market data volumes expand, firms face higher demands for connectivity, bandwidth, processing capacity, resilience, cybersecurity, and compliance.
For TXSE, success will depend on attracting listed companies and durable trading liquidity. For firms like Waypoint, the calculation is simpler: clients increasingly expect access to every significant source of liquidity, no matter which venue captures the largest share of order flow over time.