The launch of the Texas Stock Exchange in Dallas marks a significant shift in the nation’s economic landscape, cementing Texas as a major powerhouse in American finance. Over the past decade, Texas has emerged as the country’s largest employer in the financial sector, with the nation’s six largest banking institutions employing over 100,000 workers across the state.
Impact on Local Businesses
Experts say that having a local national exchange will make capital faster and easier to access for local businesses, sparking even more job creation and innovation across the massive $2.9-trillion Texas economy. The new exchange is scheduled to start trading five securities tomorrow.
According to Ray Perryman of The Perryman Group, the launch of the Texas Stock Exchange sends a strong message that Texas is now a major hub for economic activity. This is further reinforced by the New York Stock Exchange and Nasdaq both establishing facilities in Texas.
Original reporting: KTBS 3 (Shreveport) — read the source article.
