NYSE President Lynn Martin discusses competition from the Texas Stock Exchange and a decline in public companies.
Texas is emerging as the newest battleground in the fight for corporate America.
As the Texas Stock Exchange lands commitments for its first major corporate listings, New York Stock Exchange President Lynn Martin is pointing to the Lone Star State’s “pro-business environment” as a major reason companies continue to flock there.
The NYSE expands its footprint in Dallas as Texas emerges as a growing hub for corporate America. (Dylan Hollingsworth/Bloomberg / Getty Images)
Martin joined FOX Business’ Cheryl Casone on “Mornings with FOX Business” to discuss the growing competition in Texas and the strength of U.S. capital markets.
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The NYSE recently opened its NYSE Texas headquarters in Dallas, expanding its presence in a state where Martin said the exchange already has roughly 130 listed companies.
FOX Business correspondent Lauren Simonetti speaks with Goldman Sachs Dallas head Aasem Khalil about the influx of businesses to Texas on ‘Mornings with Maria.’
“We have about 130 listed companies with us, we’re extraordinarily excited about the opportunity in Texas as well as… The general pro-business environment that has really been created and fostered by Governor Abbott,” Martin said.
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The expansion comes as the newly launched Texas Stock Exchange begins landing major corporate listing commitments, adding another player to a market long dominated by established exchanges. The development puts Texas at the center of a growing competition for public companies and capital.
Martin’s comments also come amid renewed momentum in U.S. capital markets, with more companies looking to tap public markets for funding.
FOX Business correspondent Lauren Simonetti reports on how Texas’ business-friendly environment and low regulations are attracting major companies on ‘The Big Money Show.’
“There’s a sense of optimism, there’s a sense of optimism that our markets are open. Our markets are incredibly strong, resilient, deep liquid, and there are more and more companies that are looking to tap the best form of capital, which is the form of capital that is available uniquely in our U.S. capital markets,” Martin said.
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For the NYSE, the push into Texas positions the exchange to capitalize on the state’s growing corporate footprint while competing directly in an increasingly crowded market.
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