Texas Stock Exchange (TXSE) Will Boost Texas’ Stature as Epicenter for Financial Services
Texas will soon be home to the nation’s newest stock exchange – the Texas Stock Exchange (TXSE). Backed by a group of investors who have raised $120 million for a new electronic trading platform, this was welcome – but not surprising – news for those of us who have long recognized that Texas is becoming a financial services powerhouse.
“With Texas, we are now the epicenter in the United States for capital, and now we seek to expand that by becoming the epicenter for capital markets,” Governor Abbott told Sunday Morning Futures following the announcement
The Texas Association of Business (TAB) supports the forthcoming establishment of the Texas Stock Exchange (TXSE), headquartered in Dallas, a region that has led the nation in financial services job growth since 2019.
This groundbreaking development not only cements Texas’s status as a leading hub for business and innovation, but also adds gravity to Texas’ stature in a universe previously dominated by New York. Positioned in a prime locale for a competitive stock exchange, the TXSE will bring competition and innovation to the industry.
As business leaders have observed, the establishment of TXSE in Dallas will have follow-on effects for Texas’ overall business growth.
Adam Gersting, Managing Partner at West Monroe’s Dallas office noted that: “Having the exchange here will add a level of prominence to the capital market segment in view and to the business environment overall. That may draw more businesses here and may provide avenues for greater growth through public investment, for example, in businesses that are here.”
Longtime Dallas business titan Mark Cuban hailed the establishment of TXSE after last week’s announcement:
“I think it’s an amazing and smart idea. It would be great for Dallas. Not just the jobs, but the improvement on digital infrastructure required, the focus on Dallas-based companies it would bring, and maybe most importantly, it would be a foundation for people to get a better financial education. It would certainly be a place schools took kids, even if it’s mostly just servers. I’m a huge fan of the concept.”
TXSE founder and chief executive James Lee made clear that the establishment of the exchange is well-timed to build on the momentum of “Texas’s booming economy and the strong economic and population growth among states in the southeast quadrant of the U.S.,” emphasizing that “Dallas has become one of, if not the most, dominant financial centers in the country, if not the world.”
Looking at the bigger picture, the creation of the TXSE is yet another testament to the importance of robust pro-business policies that have rendered Texas the ideal home for corporations poised for more growth and success.
Businesses of all sizes have consistently flocked to the Lone Star State, with a total of 297 headquarter relocations occurring since 2015. With 52 Fortune 500 companies already headquartered here, our state has earned a reputation for being the ‘headquarters of headquarters.’ CEOs perennially recognize Texas as the Best State for Business, and Site Selection magazine has for twelve straight years ranked Texas as the top state for new capital investment projects.
While other states burden businesses with punitive taxes and regulations, Texas remains steadfast in its commitment to promoting economic growth and improving our business climate. Texas last year passed legislation to establish specialized business courts comprised of Governor-appointed individuals with 10+ years of experience practicing business transaction law or complex civil business litigation. Contrast Texas’ clear commitment to a better business climate with New York’s proposed state tax on stock transfers—to which the Wall Street Journal editorial board responded:
“Go ahead, make the Texas exchange’s day.”
The establishment of the TXSE is the latest in a long string of new Texas business endeavors underscoring that policy matters for job creators and investors, and that capital goes where it is treated well. As we approach the launch of this transformative enterprise, TAB stands ready to support ongoing efforts to further solidify Texas’ position as a global leader in financial services.
Written by: TAB Chamber Business News
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Texas Political Spotlight
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Welcome back, friends
Governor Abbott has called a high-stakes special session packed with issues ranging from flood response to redistricting, abortion, and THC regulation, just weeks after deadly storms swept Central Texas. Meanwhile, Sen. Angela Paxton announced her divorce from Attorney General Ken Paxton amidst a heated US Senate GOP primary. Lastly, in Boca Chica, SpaceX’s newest project is drawing attention from environmental advocates worried about its impact on coastal dunes.
Today’s Insights:
- Governor Abbott Officially Sets Special Session Agenda
- Sen. Angela Paxton Announces Divorce from Attorney General Ken Paxton Amidst Heated US Senate GOP Primary
- Space X Set To Build Liquid Oxygen Plant in South Texas
Governor Abbott Officially Sets Special Session Agenda
Governor Greg Abbott has called Texas lawmakers back to Austin for a July 21 special session with an 18-item agenda including issues such as natural disaster preparedness, abortion restrictions, THC regulation, and congressional redistricting. The top four items address the catastrophic flooding across Central Texas that left over 100 people dead and more than 160 still missing. Abbott is urging swift action to improve early warning systems and emergency communications, and to provide financial support for flood-impacted areas. “We must ensure better preparation for such events in the future,” the governor said while visiting Kerr County, one of the hardest-hit regions.
While flood response dominates the immediate urgency, the governor's agenda also reopens contentious debates that stalled during the regular session earlier this year. These include efforts to eliminate the STAAR test, limit abortion access, particularly regarding medical abortion, and regulate hemp-derived THC products without imposing a full ban. Abbott’s recent veto of a GOP-led THC ban signaled a more measured approach focused on potency limits potential regulation. At the same time, he is calling for legislation to “further protect unborn children and their mothers,” in what could become another high-profile ideological fight at the Capitol.
Perhaps the most politically consequential item is mid-decade redistricting. Abbott cites constitutional concerns raised by the U.S. Department of Justice, but critics, including Texas Democrats and advocacy groups, argue the effort is designed to redraw key districts in favor of Republicans ahead of the 2026 elections. Civil rights groups have also raised concerns about the inclusion of legislation to “protect women’s privacy in sex-segregated spaces,” interpreting it as a revival of what critics referred to as "bathroom bills". With lawmakers convening for up to 30 days, and the possibility of additional sessions, Texans can expect legislative action for a while.
Sen. Angela Paxton Announces Divorce from Attorney General Ken Paxton Amidst Heated US Senate GOP Primary
Sen. Angela Paxton announced Thursday she is filing for divorce from her husband, Attorney General Ken Paxton. In her statement, the McKinney Republican said she had “earnestly pursued reconciliation,” but that recent discoveries made continuing the marriage untenable. The couple have long been prominent figures in Texas politics, with Angela Paxton holding the Senate seat her husband once occupied. Ken Paxton attributed the separation to the “pressures of countless political attacks and public scrutiny.”
The announcement comes as Ken Paxton mounts a high-profile primary challenge against U.S. Sen. John Cornyn.
Space X Set To Build Liquid Oxygen Plant in South Texas
Cameron County commissioners have approved a construction permit allowing SpaceX to build an air separator facility near the sand dunes of Boca Chica Beach, a decision that has sparked environmental concerns among local residents. The facility—described as a compact industrial plant with 20 structures on 1.66 acres—will separate nitrogen and oxygen from the air to support rocket launches, reducing the need for over 200 truck deliveries per launch from Brownsville. Although SpaceX agreed to mitigation measures and shifting construction further inland to minimize dune disruption, critics remain skeptical, citing limited public input and concerns over the project's impact on vegetation and wildlife. The permit requires SpaceX to restore or replace any damaged dunes, with enforcement authority resting with the Texas General Land Office.
“I think that it’s clearly true today how the government of Cameron County is kind of falling over to please SpaceX”
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TXElects Election Updates
We bring you latest candidate filings, campaign finance information and more for all candidates running for statewide, legislative and congressional offices.
Senate Race In Monday’s Austin press conference on the 2-year anniversary of the Dobbs v. Jackson decision, Democrat Colin Allred included his wife Alexandra Eber as a featured speaker on abortion issues. Eber discussed challenges faced by pregnant women and said that “Politicians in Texas, like Ted Cruz, have done the unthinkable, which is to make it ever harder for women in those unthinkable moments.”
The Texas Politics Project’s June polling found that 45% of Texans believe abortion laws should be less strict, with 23% preferring no change, and 20% preferring stricter abortion laws.
Cruz leads Allred 45% to 34%, according to the Texas Politics Project’s June poll. Allred leads Cruz among Hispanic voters, 38% to 34%, while Cruz led 18-29 year olds 32% to 30%.
Speaker Race The Republican Party of Texas listed “No Democrat Chairs” as its fourth highest legislative priority in its recently released 2024 platform. Last regular session, Speaker Dade Phelan appointed 9 of the 37 House committee chairmanships to Democrats. Phelan defeated challenger David Covey by 366 votes in the runoff primary election and currently faces two challengers for the speakership: Rep. Shelby Slawson and Rep. Tom Oliverson.
Dade Phelan spending Speaker Dade Phelan made $5M in contributions to Texas House 2024 primary candidates and PACs. His largest 20 expenditures were:
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TXElects Election Updates
We bring you the latest candidate filings, campaign finance information and more for all candidates running for statewide, legislative and congressional offices.
Texas campaign spending
Texans for Lawsuit Reform PAC contributed at least $10M in total to Texas Legislature primary and runoff races. The top 20 expenditures were:
Texans United for a Conservative Majority contributed at least $7.7M in total to Texas Legislature primary and runoff races. The top 20 expenditures were:
Gov. Greg Abbott spent nearly contributed almost $9M in total to Texas Legislature primary and runoff races. The top 20 expenditures were:
Senate Race
UT Tyler’s June 11-20 Texas Registered Voter Survey shows Sen. Ted Cruz leading Democrat challenger Colin Allred 43% to 39%. Respondents listed securing the border as the most important policy issue facing Texas, followed by inflation and reproductive rights.
HD 70
In a Dallas WFAA Inside Texas Politics interview, incumbent Democrat Rep. Mihaela Plesa responded to claims that her district is one of the likeliest to flip. “We do the work, they said that last cycle and we were out-funded 4 to 1 … and we won.” The interview also covers school choice, the Speaker race, IVF, grid infrastructure, and other issues.
Biden debate performance
The Texas Tribune reported on down-ballot discussions following President Biden’s debate performance last Thursday. Former Republican Congresswoman Mayra Flores, currently challenging incumbent Democratic Congressman Vicente Gonzalez, wrote in a text message that “Gonzalez has supported Joe Biden every step of the way … Now is not the time for feeble leadership from Biden or blind yes men like Gonzalez.”
Democratic State Rep. Ron Reynolds of Missouri City wrote on Instagram that he was “very disturbed” by the debate and supported the nomination of VP Kamala Harris in place of President Biden. Democratic Congressman Marc Veasey took an alternate stance, encouraging members to not “say anything that they will regret later before everybody’s had a chance to just kind of chill a little bit.”
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