Among running stock exchanges, one of the biggest rivalries on Wall Street has been whether a company chooses to list its stock on the New York Stock Exchange or the Nasdaq. Now Texas is shaping up to be the next stock-trading battleground as two rival exchanges move to set up shop in the Lone Star State.

TXSE Group Inc., parent company of the proposed Texas Stock Exchange, closed its initial fundraising round at $161 million and said the TXSE has filed for registration as a bourse with the US Securities and Exchange Commission.