Texas Stock Exchange Poised to Challenge Wall Street with Starlink IPO on the Horizon
In This Article
- Texas Stock Exchange Set to Disrupt Wall Street
- Major Financial Backers and Supporters
- Texas’s Growing Economic Magnetism
- Speculation on Starlink’s Potential Listing
The booming Texan economy has spurred BlackRock, Citadel Securities, and other investors to back a new challenger to the New York Stock Exchange and Nasdaq: the Texas Stock Exchange (TXSE).
Texas Stock Exchange Set to Disrupt Wall Street
The TXSE has raised $120 million from major investment firms and plans to file registration documents with the Securities and Exchange Commission later this year, according to
The Wall Street Journal. Trades on the new exchange could begin in 2025, with the first listing as early as 2026. TXSE aims to offer a more CEO-friendly environment with lower compliance costs compared to the Nasdaq and NYSE, potentially attracting high-profile listings.
Major Financial Backers and Supporters
The TXSE has garnered substantial financial support from heavyweights like BlackRock and Citadel Securities.
This backing underscores the confidence in the new exchange’s potential to disrupt the traditional strongholds of the NYSE and Nasdaq. With such significant financial backing, the TXSE is poised to attract numerous high-profile companies.
Texas’s Growing Economic Magnetism
The allure of low taxes, reduced living costs, and relaxed regulatory oversight has been a magnet for Fortune 500 companies.
Notable corporations such as Exxon, Tesla, AT&T, American Airlines, Oracle, Dell, and Caterpillar have relocated to Texas, showcasing the state’s economic appeal. Texas now boasts 52 Fortune 500 companies, tying with New York for second place, just behind California’s 57.
Read Also: Will Texas Exit the United States and Join BRICS?
Speculation on Starlink’s Potential Listing
TXSE CEO James Lee highlighted the economic power of Texas and the southeast U.S., signaling a bright future for the exchange.
With this momentum, there’s speculation about potential listings, including Elon Musk’s Starlink.
If Starlink goes public on the TXSE, it could significantly boost the exchange’s profile and success. The question on everyone’s mind: will Elon Musk choose TXSE for Starlink’s IPO?
The Bottom Line
The Texas Stock Exchange is poised to challenge the dominance of the NYSE and Nasdaq, backed by substantial investment and the economic allure of Texas.
With potential high-profile listings on the horizon, including the much-anticipated Starlink IPO, the TXSE could redefine the landscape of American stock exchanges.
Contributing article: https://www.wsj.com/finance/regulation/new-texas-stock-exchange-takes-aim-at-new-yorks-dominance-e3b4d9ba?mod=finance_lead_pos1
