Dallas: The HQ of Texas Capital Markets

Dallas is now a major capital markets hub. With its long history of family offices, private equity firms and commercial banks, the addition of new stock exchanges are solidifying the region as a place to source big capital.

The relocation and renaming of the NYSE Texas, formation of the Texas Stock Exchange (TXSE), a new Nasdaq Texas exchange, and regional HQs for Goldman Sachs, Schwab, Chase and others make it a central location for listings, trading, and financial operations.

Why is this good for Texas businesses?

• NYSE Texas, Nasdaq and TXSE will have significant trading venues in Dallas, giving the state a direct role in listing and trading.

• Major Financial Firms:** Institutions like BlackRock, Citadel Securities, Charles Schwab, and others have invested in the TXSE, signaling confidence in the region.

• Lower costs and increased innovation lower market fragmentation and regulatory standards. 

• Increased competition is expected to reduce listing, compliance, and transaction fees. This directly benefits companies, especially small- and medium-sized "emerging growth" firms, making IPOs more attractive and affordable.

• The competitive environment among capital sources and exchanges fosters innovation in trading technology, market structure, and ancillary services.

• Access to Capital: A localized exchange can make the IPO process more accessible for regional companies, particularly in the energy and tech sectors prominent in Texas and the U.S. Southeast. This may help reverse the trend of a declining number of U.S. public companies by incentivizing more private firms to enter public markets.

• Regional Economic Growth: The concentration of financial sources attracts investment, talent, and supporting businesses (law firms, accounting firms, financial tech companies) to the Dallas area, reinforcing its status as a top-tier financial hub and boosting the regional economy. The large number of Fortune 500 companies in the region add to exits and strategic partnerships for high-growth businesses.

• Diversification and Choice: Companies gain a choice of growth financing options through private debt, senior debt, public debt and venture capital. This allows companies to grow from start-up phase to exit or M&A, right here in Texas.