Two-step aside, New York Stock Exchange and Nasdaq. The Dallas-based Texas Stock Exchange, nicknamed Y\u2019all Street, just kicked off live trading with five stocks for now \u2014 and with lots of Lone Star ambition.<\/p>\n
\u201cThe Texas Stock Exchange aims to revitalize competition for [stock] issuers, establish the premier venue for listings, and create a world-class trading platform for all market participants,\u201d the exchange says in a fact sheet<\/a>.<\/p>\n The exchange<\/a> \u2014 whose Texas-influenced nickname is a nod to New York City\u2019s Wall Street \u2014 has collected at least $275 million in investments. The roughly 90 financial backers of TXSE include Bank of America, BlackRock, Charles Schwab, Citadel Securities, Dell Family Office, Fortress, Goldman Sachs, and JPMorgan Chase.<\/p>\n Representatives of TXSE couldn\u2019t be reached for comment. On its website, the exchange calls itself<\/a> \u201cthe most well-capitalized equities exchange to ever be approved\u201d by the U.S. Securities and Exchange Commission (SEC).<\/p>\n Not to be outdone, NYSE has launched Dallas-based NYSE Texas and Nasdaq has expanded its presence in Dallas.<\/p>\n Y\u2019all Street adds to Dallas-Fort Worth\u2019s rising status as a major hub for financial services, with The Wall Street Journal naming North Texas the country\u2019s second biggest financial hub<\/a> after New York City. Among the biggest DFW players in financial services are:<\/p>\n Financial services provider Charles SchwabBanking company ComericaAuto lender Santander Consumer USABanking company Texas Capital BancsharesLender GM FinancialInvestment bank Goldman SachsFinancial services provider FidelityBanking conglomerate JPMorgan ChaseMegabank Wells Fargo<\/p>\n \u201cA homegrown national exchange<\/a> means more jobs, more investment, and more growth opportunities for businesses and communities across the Lone Star State,\u201d Gabriela von zur Muehlen, senior vice president and chief policy officer at the Texas Association of Business, told The Texas Tribune.<\/p>\n In a move that will further elevate DFW\u2019s status as a financial powerhouse, Goldman Sachs is building an 800,000-square-foot corporate campus near the American Airlines Center. The campus, with an initial price tag of $500 million, will be able to accommodate more than 5,000 employees when it opens in 2028; it\u2019ll be Goldman Sachs\u2019 largest office outside New York City.<\/p>\n Driven by DFW, the financial services sector now plays a massive role in Texas\u2019 status as the Financial Capital of America<\/a>, as declared by Gov. Greg Abbott.<\/p>\n Bulent Temel, an associate professor of practice in economics at the University of Texas at San Antonio, told Texas Standard that TXSE \u201cis going to boost the credibility of the Texas economy<\/a>.\u201d<\/p>\n Texas\u2019 estimated gross domestic product (GDP), a yardstick for the size of an economy, climbed to a record-setting $2.9 trillion<\/a> in 2025, making it the state with the second highest GDP after California. DFW\u2019s estimated GDP in 2023 stood at $744.6 billion<\/a>, eclipsing the GDP of many countries.<\/p>\n