Is live. Two weeks ago.
They still working out some kinks.
ralph
4 Likes
More competish? Or another way to bamboozle people? Sleight of hand works better with more hands
2 Likes
Yep, it is very valuable to have a lot of people suggesting stupid things.
There’s an old Wall Street saying that money goes where it is treated best. Early last year Chicago exchanges moved out of Illinois to Dallas.
NYSE comes to Dallas with rebranded branch as Texas Stock Exchange eyes launch
And from 2024…
Welcome to Y’all Street, Texas’ Burgeoning Financial Hub
https://www.wsj.com/finance/welcome-to-yall-street-texas-burgeoning-financial-hub-29b712f4
The site is where Perot’s real-estate investment company, Hillwood, is partnering to build a $500 million Goldman Sachs tower for more than 5,000 bankers and investors. That will make it the financial firm’s second-largest office, behind New York.
As the helicopter swung northwest, windows glinted from two unfinished Wells Fargo office towers, scheduled to open next year. A bit farther away: a fourth office building under construction for Charles Schwab, which moved its headquarters from California to the Dallas area five years ago, and the footprint of a Deloitte campus doubling in size.
The sprawling landscape illustrates an expansion that has brought to North Texas a presence in financial services that now sits second only to New York City in the U.S. And growth of so-called Y’all Street is accelerating.
DB2
7 Likes
An already tough regulatory environment in Illinois, The Climate and Equitable Jobs Act passed in 2021 may have been the final straw. Tyson foods, citadel, Boeing and Caterpillar have all moved operations. Even the Bears are moving to Indiana.
The good news is Governor Pritzker will be able to reach his net zero climate targets, just by those using energy moving elsewhere.
6 Likes
But factories open when taxes nationally are much higher.
1 Like
IIRC, a while back when I first saw mention of Y’all Street, the comment was that big money was unhappy with the way NYC was treating Wall Street and the financial denizens.
Texas has promoted itself as “business friendly”.
Here’s what ChatGPT says about TXSE:
(“Texas has made exchange competition a priority.
Texas political and business leaders have actively promoted the state as an alternative to New York. The Texas Stock Exchange was backed by:
Large institutional investors
Major market makers
Well-known Wall Street executives
Hundreds of millions of dollars in startup capital
Their goal wasn’t just to attract investors—it was to compete for corporate listings.”)
FL also is promoting itself as “business friendly”.
Here’s what ChatGPT says about FL:
(“Florida’s growth has been different
Florida has excelled at attracting:
Hedge funds
Family offices
Wealth managers
Venture capital firms
High-net-worth individuals
These organizations primarily invest in securities. They don’t operate the infrastructure that makes markets.”)
ChatGPT also says NYSE has opened a branch in Dallas.
TXSE is an independent, standalone exchange that will compete with NYSE for listings.
(“Interestingly, Texas now has two national exchanges:
TXSE (Texas Stock Exchange), the new independent exchange in Dallas.
NYSE Texas, a Texas-based exchange operated by the New York Stock Exchange. �”)
Companies will potentially list on both NYSE and TXSE.
ralph
2 Likes