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The announcement of plans to establish a new national stock exchange in Dallas has garnered reactions from across the country.
The Texas Stock Exchange, backed by $120 million in funding, aims to rival major stock markets in New York. While there is optimism about the potential economic benefits for the DFW area, local experts caution that the project still faces obstacles before it can compete with the vast trading volumes of the NASDAQ and NYSE.
TXSE, the ownership company behind the initiative, announced on Tuesday its intention to launch the Texas Stock Exchange by 2026, citing Texas’s thriving economy, business-friendly policies, and population growth as key factors.
Ray Perryman, President of The Perryman Group, noted the enthusiasm surrounding the project, highlighting Texas’s attractiveness for establishing a new stock market. He emphasized the state’s robust job creation, significant presence of Fortune 500 companies, and recent influx of corporate relocations.
Despite the excitement, Bill Dendy, President of Alicorn Investment Management, emphasized that several regulatory and logistical hurdles must be addressed before the exchange becomes operational. These include approval from the US Securities and Exchange Commission and obtaining insurance protections for investor funds.
Furthermore, Dendy pointed out that sustaining the exchange post-launch would require attracting substantial investments. He mentioned previous instances where regional stock markets were assimilated by those in New York.