A couple of factors — Citidel and BlackRock — work in its favor but many more point to the fact the Dallas-based exchange probably won’t make much of a splash.
It’s an exhilirating idea, this notion of launching a Texas-based stock exchange to compete with the dominant duopoly of the Nasdaq Stock Market and New York Stock Exchange . Houston -based finance entrepreneur James Lee said this month he’d raised $120 million in institutional funding to build a new Texas Stock Exchange to take on those markets in New York.
Financiers plan to launch a Texas-based stock exchange Not surprisingly, the Texas Association of Business gave a Lone Star-patriotic thumbs up to the news, noting, “Texas is quickly becoming an epicenter for the financial services industry.” The Wall Street Journal chimed in with hopes that competition for the New York duopoly would reduce fees and curb aggressive regulatory demands on listed companies.
Taylor: Do you believe in Texas exceptionalism? There’s now a way to invest in it. “If you’ve been around for a while as a big company in Texas or the Southeast, with your primary listing in NY, are you going to change away from the NYSE?,' Hyland said. 'If you are a tech company based in Texas, being listed on Nasdaq is part of your brand.
Taylor: An Austin real estate investor makes the case for being bullish on Texas Also, the recent history of regional exchanges like TXSE isn’t great. The Boston and Philadelphia stock exchanges were acquired by Nasdaq in 2007 and the Chicago stock exchange was acquired by the NYSE in 2019. They were legacy exchanges that had outlived their usefulness.
Texas Stock Exchange TXSE Citadel Securities Nasdaq Stock Market Investors Exchange Members Exchange Blackrock Long Term Stock Exchange Aramco Wall Street Journal Texas Association Of Business Blackrock Saudi Exchange United States Oil Fund LP Alamo Taylor: An Austin James Lee John Hyland Citidel Michael Lewis Taylor Texans Texas Dallas New York Houston Lone Star Citadel Southeast Philadelphia Boston Southeastern United States Chicago Canadian Saudi Arabian State Street TXSE Linkedin United States Natural Gas Fund LP Etfs Dow Jones Industrial Average Battle Of San Jacinto Wall Street Vanguard Flash Boys: A Wall Street Revolt
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