As New York descends into a crime mecca with 1 in 5 hotels filled with unvetted illegal aliens and hardcore criminals released without bail, a new Stock Exchange has popped up in Texas.
The timing is right for the Texas Exchange to seek dominance over New York’s.
The Wall Street Journal reports TXSE has raised $120 million to take on NYSE and Nasdaq.
Unfortunately, it’s backed by Wall Street globalists like BlackRock and Citadel Securities. They back a new national exchange in Texas.
However, the good news is they say they want an anti-woke stock exchange.
TXSE plans to register later this year. CEO James Lee told The Wall Street Journal that the goal is to begin facilitating trades in 2025 and host its first listing in 2026.
Texas is now home to more Fortune 500 companies, including Exxon Mobil, AT&T, and American Airlines, than any other state.
Goldman Sachs broke ground last year on a Dallas campus that can house 5,000 employees.
“Dallas has become one of, if not the most, dominant financial centers in the country, if not the world,” CEO Lee said.
Let’s hope they don’t bring their failed far-left policies with them. It’s destroying New York.
TEXSE will be fully electronic and have a physical presence in Dallas. It plans to compete for primary and dual listings and attract listings of exchange-traded products.
NYSE and NASDAQ have an effective duopoly. We will have to see how TEXSE survives. The duopoly will try to destroy them and have squashed others in the past.
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