SAN ANTONIO \u2013 Texas could soon become a major player in the financial world, with NASDAQ announcing plans to open a regional office in the state.<\/p>\n
The move joins the New York Stock Exchange and the newly proposed Texas Stock Exchange, a development experts said could eventually impact jobs, businesses, and retirement accounts across Texas, including in San Antonio.<\/p>\n
Daryl Lyons, CEO and co-founder of Pax Financial Group, said NASDAQ\u2019s decision reflects the growing number of publicly traded companies relocating to Texas.<\/p>\n
\u201cNASDAQ is moving a regional office here in Texas because of all the business that\u2019s going on,\u201d Lyons said. \u201cThey just want to have a presence to be able to help these companies here participate in the publicly-traded markets.\u201d<\/p>\n
Lyons said Texas is unique, as no other state is on track to potentially host three major stock exchanges.<\/p>\n
\u201cIt means that we matter,\u201d Lyons said. \u201cTexas has set up a new framework that\u2019s different than New York\u2019s \u2014 one that\u2019s going to compete with New York and make the publicly traded markets better.\u201d<\/p>\n
While the exchanges would likely be based in the Dallas area, Lyons said the economic ripple effects could reach cities across the state, including San Antonio.<\/p>\n
For local businesses, easier access to public markets could mean new opportunities to raise money and expand. Lyons said South Texas companies have traditionally been cautious about outside investment, but this shift could change that mindset.<\/p>\n
\u201cHaving this spotlight will maybe make companies who are very successful a little bit more curious about how to access that capital to expand their good ideas,\u201d he said.<\/p>\n
For everyday workers, Lyons said the impact could show up in retirement accounts and job opportunities.<\/p>\n
\u201cHaving better companies that are accessible through 401(k)s \u2026 you just have more jobs and more opportunity,\u201d Lyons said. \u201cPeople have better jobs, and the wages start to go up.\u201d<\/p>\n
The exchanges are expected to begin operations sometime next year. Lyons said Texans may start feeling the effects sooner than expected as investors and businesses move quickly to take advantage of the opportunity.<\/p>\n
\u201cIf businesses can come here, all of us have better jobs and better lives,\u201d Lyons said.<\/p>\n
Read also: <\/p>\n
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