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Texas Stock Exchange offices seen in July in Dallas. The exchange will open trading to its members on Monday.<\/p>\n
Smiley Pool\/Dallas Morning News<\/p>\n
The\u00a0Texas Stock Exchange<\/a> will start trading on Monday, kick-starting the first real test of one of the most well-funded new exchanges to launch in decades.<\/p>\n The exchange, a Dallas-based startup, will initiate a phased rollout to take place over the course of July. On Monday, the exchange will open to TXSE members, including approved broker-dealers, banks and trading firms, to trade test stocks initially, then the symbols for thousands of stocks and other equities will come online over the course of the month, allowing the public to start trading.<\/p>\n Article continues below this ad<\/p>\n By the third quarter, exchange officials hope to have exchange-traded products, or ETPs, listed, according to the exchange. Unlike an individual company stock, ETPs allow investors to buy into an entire market, like the S&P 500, oil or gold. The exchange said it expects to add corporate listings during the fourth quarter of this year.<\/p>\n Both Texas state government and exchange officials hope the TXSE launch will solidify Dallas\u2019 quest to become a national financial hub and boost the Texas economy by growing the state\u2019s financial services industry and making money for any Texas companies and investors that are doing business through the exchange.<\/p>\n \u201cWith the start of full production trading, any last notions that TXSE is theoretical are instantly swept away,\u201d a TXSE official wrote in a statement.<\/p>\n Trading test run like rollout of a new car<\/p>\n Monday\u2019s start of trading is critically important to test-run and demonstrate to companies interested in listing on TXSE that it can provide a viable alternative to the New York Stock Exchange and Nasdaq Stock Market, said Sriram Villupuram, a University of Texas at Arlington associate professor of finance.<\/p>\n Article continues below this ad<\/p>\n Texas Stock Exchange will open trading Monday to its members, who will be able to trade test stocks. The symbols for thousands of stocks and other equities will come online over the course of the month, during which trading will open to the public.<\/p>\n Smiley N. Pool\/Staff Photographer<\/p>\n \u201cBasic technical things, hopefully will work well,\u201d Villupuram said. \u201cThis is the first demonstration. It\u2019s like a new car, a brand-new company pushing out their first car. I think they\u2019ll get through it fine, but things can go wrong. This is a high-tech exchange at the end of the day.\u201d<\/p>\n San Antonio Express News Logo<\/p>\n Make us a Preferred Source on Google to see more of us when you search.<\/p>\n <\/p>\n Add Preferred Source<\/p>\n <\/a><\/p>\n While most trading is now done electronically, the location of a stock exchange still matters, said Ray Perryman, president of the Waco-based economic research company the Perryman Group.<\/p>\n Article continues below this ad<\/p>\n Investors tend to hold stocks in and trade more on nearby companies, and Texas has both ingredients for a successful exchange \u2014 a rapidly growing pool of investors via the growth of the financial sector in the Dallas area, as well as Fortune 500 companies headquartered in the state that they can invest in, he said.<\/p>\n \u201cA homegrown national exchange means more jobs, more investment and more growth opportunities for businesses and communities across the Lone Star State,\u201d said Gabriela von zur Muehlen, senior vice president and chief policy officer at the Texas Association of Business.<\/p>\n Hype around TXSE has been building<\/a> since the June 2024 announcement that the exchange intended to launch with $120 million in backing from large investment firms such as BlackRock and Citadel Securities. In the time since that announcement, anticipation has only grown as the exchange received federal approval and further investments from some of the largest financial institutions in the world, now totaling $275 million.<\/p>\n Y\u2019all Street growth<\/p>\n At the same time, financial services in the Dallas area have continued to grow. JP Morgan Chase, Goldman Sachs and Charles Schwab now have thousands of employees based in the region, coined \u201cY\u2019all Street.\u201d<\/p>\n Article continues below this ad<\/p>\n<\/p>\n
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