Creating Corporate Competition, Deep in the Heart of Texas
Backed by institutional investors and business leaders, to the tune of $120 million, Texas Stock Exchange (TXSE) has announced its plans to register with the SEC and operate an exchange in Dallas.
Why it Matters: The exchange plans to attract businesses to list on their exchange by offering different, some are saying "anti-woke", listing standards. For example, offering an alternative for companies who don't want to list on the Nasdaq and be subject to new rules setting targets for board diversity.
Between his business interests in Texas and his stance on the “woke mind virus” many have speculated that Elon Musk is behind the scene as a proponent of the new exchange. A number of his companies, like SpaceX, Tesla, and Neuralink have been transferring their operations from California to Texas over the past few years.
By the Numbers:
Texas is home to 54 Fortune 500 companies.
The Texas economy is estimated at $2.4 Trillion in the first quarter of 2024, the eighth largest economy in the world
The exchange in Dallas plans to begin trading in 2025 and host its first listing in 2026.
What we’re looking forward to: This new exchange will bring new companies into Texas, giving a boost to the economy. Private Texas companies like USAA, Epicor Software, SpaceX, and Buc-ee’s may also choose to list on the exchange due to proximity alone.
