Waypoint Trading Solutions, a unit of Reston-based Transaction Network Services (TNS), says it will provide connectivity to the Texas Stock Exchange (TXSE) from the Dallas venue's first day of trading.

The move adds TXSE, which won regulatory approval last year and is preparing to launch in 2026, to a US equities roster the company says already covers all 22 national exchanges.

TXSE has not begun trading. It secured approval from the Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission to operate as a national securities exchange in September 2025, and has signaled it expects to open later this year.

Waypoint's announcement stakes out access to a venue whose order flow does not yet exist.

Connectivity Lands Before the Exchange Does

The pattern is familiar. When 24X National Exchange prepared its extended-hours US stock platform last year, TNS lined up market data connectivity ahead of the launch, pitching access to firms in Asia that wanted to trade American shares during local hours. Waypoint is running the same playbook for TXSE.

Being live on day one matters for connectivity firms because brokers and trading desks route through whichever networks already reach a venue.

Tom Lazenga, president of Waypoint, said in the announcement that "it was important to our clients that we establish connectivity... from day one," framing the link as part of the firm's US markets coverage.

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TXSE arrives with heavy financial backing. Public filings and reports list investors including BlackRock, Citadel Securities and Charles Schwab, joined more recently by JPMorgan, Goldman Sachs and Bank of America, with capital raised above $250 million.

The exchange is pitching itself as a lower-cost rival to the New York Stock Exchange and Nasdaq.

Rick Yoder, TXSE's chief technology officer, said the exchange "has built a modern proprietary trading platform designed for high throughput and speed," a claim that will not be tested until live trading begins.

Infrastructure Firms Chase the Same Exchange Business

Waypoint is not alone in courting exchanges and the firms that trade on them. Beeks Financial Cloud has spent the past year signing venues to its Exchange Cloud service, and booked about $10 million of contracts in June across a Tier 1 bank, a financial services client and a US equities exchange.

Beeks works differently from Waypoint. It builds managed infrastructure next to trading venues and, increasingly, takes a cut of transaction revenue rather than charging fixed fees.

Others compete on the network and data layer. Pico sells low-latency connectivity Connectivity Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Read this Term and its Corvil analytics tools across global data centers, while IPC Systems runs its Connexus Cloud trading network.

A Network Built on the Old Radianz Business

Waypoint splits its services into three lines. Radianz provides trading connectivity through what the company calls the world's largest financial extranet, Xpress offers a managed low-latency platform, and Sentinel handles market data. The Radianz piece is the most established, with roots going back more than two decades.

That network changed hands this year. TNS closed its acquisition of BT's Radianz business in early 2026, folding the cloud platform that connects thousands of brokers, exchanges and clearinghouses into its own low-latency network. Waypoint is the brand under which TNS now sells the combined offering.

The company says its ecosystem reaches more than 800 exchanges, venues and service providers across over 70 countries, and that more than 1,000 financial institutions rely on it. TNS has used that footprint to embed itself in other firms' systems, including a deal in which Broadridge built TNS connectivity into its futures and options software.

For now, the announcement reflects vendor positioning more than market activity. Whether day-one connectivity turns into business depends on how many issuers and traders TXSE can pull away from the incumbents once it opens.