The launch feeds into an effort to establish the state as a corporate mecca with a new bourse trading equities in Dallas
The head of the fledgling Texas Stock Exchange has pledged tougher listing standards than his New York rivals as part of his state’s bold attempt to establish Dallas as a financial challenger to east coast dominance.
But its ambitions have been met with scepticism from rivals and other industry participants who have pointed to the failure of previous attempts to wrest listings from the New York duo. “Nobody’s been able to start a new listings exchange in 50 years — and they’ve tried,” said James Angel, finance professor at Georgetown University. “The people behind this do know how to start a stock exchange so with good technology and marketing, they will make sure they have a good trading product.
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