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Thursday, January 29, 2026

UTP Vendor Alert #2026 - 4
Launch of Texas Stock Exchange LLC (TXSE) as a New Participant to UTP Plan

Markets Impacted:

Products Impacted:

Contact Information:

What you need to know:

  • The UTP Operating Committee has received a request from Texas Stock Exchange LLC (“TXSE”), to join the UTP Plan. The following Market Center Originator ID will be added as allowable values for UTP Quotation Data Feed (UQDF) and UTP Trade Data Feed (UTDF) data feeds:
    • Texas Stock Exchange LLC "TXSE" ("F")
  • As announced by TXSE, they plan to commence quoting and trading of Nasdaq-listed securities under the UTP plan in a phased rollout. Activation is expected in July 2026.

  • TXSE will maintain a rollout schedule and recommends direct data recipients monitor the TXSE web site for any future changes to the schedule.

What changes have been requested by TXSE?

TXSE has notified the UTP SIP of its plans to begin quotation and trading as a national securities exchange for Nasdaq-listed securities. TXSE will be active under the UTP plan and is expected to be active in July 2026.

Initially TXSE’s hours of operation in UTP will be as follows:

Session Start and End Times
Pre-Market Session 8:00 a.m. - 9:30 a.m. ET
Regular Market Session 9:30 a.m. - 4:00 p.m. ET
Post-Market Session 4:00 p.m. - 5:00 p.m. ET

How will this affect the UTP data feeds?

When TXSE, as a national securities exchange, begins quoting and trading in Nasdaq-listed symbols, quotation and trade data will be disseminated via the following UTP data feeds:

  • UTP Quotation Data Feed (UQDF): UQDF subscribers will receive TXSE BBO quotation via UTP Participant Quotation message format for all Nasdaq-listed securities. TXSE quotes will be identified by the market center originator identifier value of "F" in the UQDF message header. In addition, firms will also see the "F" market center value in the National Best Bid and Offer (NBBO) Appendage and Closing Quote Recap message formats.
  • UTP Trade Data Feed (UTDF): TXSE trade transactions will be disseminated with the “F” market center originator identifier and the sub-market center identifier of “space” via UTDF.

Will TXSE offer any nightly or Saturday testing opportunities?

Yes, the UTP SIP in coordination with TXSE will support the following testing opportunities associated with their activation:

Type of Testing Scheduled Dates Description
Evening Test Transmissions Nightly beginning in February through production launch Each weeknight between 9:30 pm – 10:30 pm, the test data will be available on the “Test Broadcast” IP Multicast channels. No registration is required to participate in evening testing.
Saturday User Acceptance Test (UAT) TXSE Schedule:
February 28, 2026;
April 11, 2026;
May 9, 2026;
June6, 2026; and
Confidence Test:
June 27, 2026 		TXSE will enter data and process this through the SIP. As it is generated, the UTP SIP will disseminate the data via the UTP data feed production channels. Testing is generally conducted between 8:00 am – 12:00 pm.
Tentative Production Launch July 2026 TXSE tentatively plans for a production implementation to begin in July 2026. TXSE will maintain a rollout schedule and recommends direct data recipients monitor the TXSE web site for any future changes to the schedule.

Who should I contact for additional information?