{"id":1469749,"date":"2024-06-06T11:45:00","date_gmt":"2024-06-06T15:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1469749"},"modified":"2024-06-06T11:45:00","modified_gmt":"2024-06-06T15:45:00","slug":"wall-street-of-the-south-texas-stock-exchange-to-challenge-nyse-nasdaq","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/wall-street-of-the-south-texas-stock-exchange-to-challenge-nyse-nasdaq\/1469749\/","title":{"rendered":"Wall Street Of The South: Texas Stock Exchange To\u00a0Challenge NYSE & Nasdaq"},"content":{"rendered":"

Wall Street Of The South: Texas Stock Exchange To\u00a0Challenge NYSE & Nasdaq<\/span><\/p>\n

\n

The booming Texan economy has spurred BlackRock, Citadel Securities, and other investors to back a new challenger to the\u00a0New York Stock Exchange and Nasdaq:\u00a0Texas Stock Exchange<\/a>.<\/p>\n

According to The Wall Street Journal<\/a>, the\u00a0TXSE has raised $120 million from big investment firms, such as the ones noted above, and plans to file\u00a0registration documents with the Securities and Exchange Commission later this year. Trades on the new exchange could begin in 2025, with the first listing as early as 2026.\u00a0<\/p>\n

The allure of low taxes and living costs, coupled with relaxed regulatory oversight and an overall friendly business environment, along with law and order, unlike imploding blue cities and states, have been major factors for the growing number of Fortune 500 companies relocating to Texas in recent years.<\/p>\n

Notable companies in Texas include Exxon, Tesla, AT&T, American Airlines, Oracle, Dell, and Caterpillar, underscoring the state’s economic appeal.\u00a0<\/p>\n

Even though California tops the list of\u00a057 Fortune 500 companies, Texas now has 52 Fortune 500 companies, tied with New York for second.<\/p>\n

TXSE plans to attract companies with less compliance costs than Nasdaq and NYSE and make the exchange more\u00a0CEO-friendly. We doubt the new exchange will enforce Nasdaq’s woke board diversity rule.<\/p>\n

“This morning, we are announcing TXSE Group plans to launch the Texas Stock Exchange (TXSE). \u00a0TXSE will be a fully electronic, national securities exchange that will seek registration with the U.S. Securities and Exchange Commission,” TXSE CEO James Lee wrote in a post on LinkedIn<\/a>.\u00a0<\/p>\n

Lee added, “Texas and the other states in the southeast quadrant of the U.S. have become economic powerhouses.”\u00a0<\/p>\n

Wall Street of the South is rising.<\/p>\n

<\/a><\/p>\n

Maybe Elon Musk will take Starlink public<\/a> on TXSE in 2026, if not by 2030.<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 06\/06\/2024 – 07:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/wall-street-south-texas-stock-exchange-challenge-nyse-nasdaq<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Wall Street Of The South: Texas Stock Exchange To\u00a0Challenge NYSE & Nasdaq The booming Texan economy has spurred BlackRock, Citadel Securities, and other investors to…<\/p>\n","protected":false},"author":0,"featured_media":1469750,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1469749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1469749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1469749"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1469749\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1469750"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1469749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1469749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1469749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}