“It is exciting; it’s transformational. Frankly, it could change the arc of Dallas for decades.”
James Lee
Founder and CEO
TXSE Group
.…on his company’s planned launch of the Texas Stock Exchange, via the Dallas Morning News.
As we noted in our top story today, Lee’s TXSE Group plans to launch the Texas Stock Exchange (TXSE), focused on Texas and the Southeast U.S. The group says it will provide “a venue to trade and list public companies and the growing universe of exchange-traded products” as a “fully electronic, national securities exchange.” That’s caused buzz across the Lone Star State—and especially on Wall Street.
Lee told the Dallas Morning News he gives a lot of credit for the planned launch to Texas Governor Greg Abbott, who’s long supported such an endeavor. (He also rang the NYSE bell himself last September while trumpeting Texas as “the eighth-largest economy in the entire world and with an annual GDP of $2.35 trillion.”)
“If we draw activity away from the [NYSE and NASDAQ], that’s just part of the competitive process,” Lee told the DMN “This is a national securities exchange. If we’re fortunate enough to be approved by the SEC, we think we could focus what we’re doing initially in [the Southeast] to capture a portion of shares in those markets because of the alignment that we’re bringing forward.”
For more of who said what about all things North Texas, check out Every Last Word.
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