top of page
Search

New national stock exchange coming to Texas, Permian Basin could have key role

TEXAS, USA — Energy produced in the Permian Basin helps to power the world, and it might also be set to help power a new stock exchange in Texas. 

TXSE Group Inc. announced on June 5th that it is creating the Texas Stock Exchange in Dallas. 

ree

TXSE has already filed initial paperwork with the U.S. Securities and Exchange Commission, and the organization intends to submit a registration with the commission to operate as a national securities exchange later this year. 

Texas having more Fortune 500 companies than any other state is just one reason experts think this can be successful. 


The Big Apple might have a challenger in Big D. 

“Texas actually has the largest financial sector of any state -- our overall financial sector’s larger than New York by a pretty substantial margin, so there [are] a lot of things that play into this that I think can help this one be successful," said Ray Perryman, President of The Perryman Group -- an economic research company.

 

Dallas will be the headquarters for the Texas Stock Exchange, created by TXSE Group following support from over two dozen investors for about $120 million of capital raised. 

“We have a much easier place to do business than New York in terms of the regulatory structure and the cost associated with it, and I think that’s something where Texas can gain a competitive advantage and that allows the stock exchange here to offer the companies that register on the exchange a competitive advantage as well," Perryman said. "So, I think that’s something that will come into play.” 


Perryman believes one challenge is getting companies to have faith in this alternative option. 


“The key thing will be being able to have enough companies willing to register and then enough investors coming to the exchange," Perryman said. 


TXSE Group Inc. Founder and CEO James Lee has confidence in that, saying the following in the June 5th announcement: 


Texas and the other states in the southeast quadrant have become economic powerhouses. Combined with the demand we are seeing from investors and corporations for expanded alternatives to trade and list equities, this is an opportune time to build a major, national stock exchange in Texas. 


In a region that also boasts a strong energy sector, the Permian Basin has a chance to get involved in the Texas Stock Exchange. 


 
 
 

Comments

bottom of page