Y’all Street Gains Momentum as TXSE Launches This Week
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Dallas’ Y’all Street is about to take another huge step forward. The Dallas-based Texas Stock Exchange, the first national securities exchange built in the Lone Star State, began test trading on its digital platform on Monday ahead of a live launch later this week.
Kicking off a phased rollout throughout July, the official launch on Friday will enable the public to execute trades. The exchange will gradually add all publicly traded national market symbols by the end of the month, followed by exchange-trade product and corporate listings later this year and initial public offerings beginning in 2027.
Mayor Eric Johnson described the opening as a “defining milestone” for the region’s fast-growing reputation as a national financial center. In addition to the new TXSE, Dallas has seen multiple long-standing exchanges move to relocate or establish new hubs in the city limits to capitalize on and contribute to the momentum. Banks and other financial services firms have been jumping on the bandwagon, too.
“Y’all Street is the future of the financial services sector, and TXSE has a pivotal role in that future and will further strengthen Dallas’s position as the nation’s leading destination for investment, innovation, and economic opportunity,” Mayor Eric Johnson said in a statement sent to CandysDirt.com.
TXSE selected the under-construction Bank of America Tower at Parkside in Uptown as its preferred future home for a permanent headquarters. In addition to executive office space, TXSE’s footprint plans for what it’s calling the Texas Market Center include a conference center, a broadcast studio, and a Texas business museum. It is currently leasing temporary space at Weir’s Plaza.
“With the start of full production trading, any last notions that TXSE is theoretical are instantly swept away,” a TXSE official said in a statement.
Big names in the financial world like Bank of America, BlackRock, Citadel Securities, Charles Schwab, and J.P. Morgan are backing TXSE, which has raised more than a quarter billion dollars across dozens of investors. The exchange hopes to position itself as a serious competitor to the established scene on New York City’s Wall Street.
“Texas has evolved from being primarily a back-office location into a major hub for technology, operations, wealth management, trading support, and increasingly, some front-office and investment banking functions,” said economic consultant executive Ray Perryman, president of the Waco-based firm The Perryman Group, according to The Dallas Morning News.
Mayor Johnson has been a big booster of Y’all Street’s, using the brand to market Dallas as an upstart alternative to regulation-heavy coastal cities. Earlier this year, he led a delegation of civic and business leaders to New York City to pitch Dallas to Wall Street firms, pointing to the arrival of three stock exchanges, major financial-sector expansions, and the city’s pro-business climate.
The mayor referenced such developments in a recent newsletter, pushing back against “false narratives” surrounding governance at Dallas City Hall following months of headlines about discord among elected officials, purported missteps by staff, and major relocations out of the city center.
The milestone comes even as Dallas City Halls faces huge financial challenges and controversial decisions that are looming over the horseshoe this summer, as Big D works to position itself as an emerging leader in the financial space.
Johnson highlighted Morgan Stanley’s proposed regional hub, Goldman Sachs’ new Dallas campus, Scotiabank’s expansion, headquarters relocations by Frontier Communications, CBRE, and AECOM, and the arrival of the Texas Stock Exchange, Nasdaq Texas, and NYSE Texas as evidence that businesses continue to bet on Dallas.
