Introduction to the New York Stock Exchange-Texas
The Big Board has found a home in Dallas, and someone to run it. The New York Stock Exchange-Texas will move into the historic Old Parkland office campus in Oak Lawn, the world’s largest exchange announced on Monday. With a signed lease in hand, the Big Board’s local branch is expected to open at the location in 2026, the NYSE said in a statement. It also revealed Bryan Daniel, most recently the chairman of the Texas Workforce Commission, would serve as the branch’s president.
The New President’s Statement
“It is an honor to be a part of the greater NYSE team and a testament to our great state that this global powerhouse has recognized the opportunity for a local capital markets ecosystem in Texas,” Daniel said in a statement. “I have spent my entire career working to support the state of Texas, and I am excited for this next step to lead NYSE Texas and drive this important phase of growth for the Texas economy.” Become a business insider with the latest news.
History of Old Parkland
Old Parkland was built as the first brick hospital in Texas over a century ago, and it reopened as a spot for businesses in 2008, following purchase and redevelopment by Dallas’ Trammell Crow family. Its neoclassical architecture houses Crow Holdings, the Dallas office of major law firm Polsinelli, and more than 100 more, including many financial and investment firms. Bank of New York’s wealth management operation also has offices at the location.
Old Parkland Campus
Dallas’ award-winning Old Parkland campus in Oak Lawn is home to more than 100 companies. Crow Family Holdings
The Big Board’s Plans
Back in February, the Big Board announced it would reincorporate its Chicago branch in the Lone Star State, as part of a wave of financial giants looking to plant down roots in North Texas, which is seen as boom country. Since then, it’s been full steam ahead for the fully electronic exchange, picking up dual listings from the likes of AT&T and D.R. Horton. Under Daniel’s leadership, NYSE Texas will look to establish its presence in the state before local upstart Texas Stock Exchange is approved by the U.S. Securities and Exchange Commission.
Competition and Growth
Each — not to mention Nasdaq’s North Texas office — are vying to capitalize on the state’s history of strong economic growth, and a physical presence in the state still matters towards that aim, according to experts. Texas owns the largest number of NYSE listings, representing over $3.7 trillion in market value, and boasts over 200 Nasdaq-listed companies as well. Offices here in Dallas, be it NYSE Texas’ new digs or TXSE’s planned Texas Market Center, help exchanges offer support to listed companies and integrate into the local business community.
Conclusion
In conclusion, the New York Stock Exchange-Texas has found a new home in Dallas, and with Bryan Daniel as its president, it is expected to drive growth and establish a strong presence in the state. The historic Old Parkland office campus will provide a unique and supportive environment for the exchange to thrive. As the exchange industry continues to evolve, it will be exciting to see how NYSE Texas and its competitors navigate the market and contribute to the state’s economic growth.
FAQs
Q: What is the New York Stock Exchange-Texas?
A: The New York Stock Exchange-Texas is a branch of the New York Stock Exchange (NYSE) that will be located in Dallas, Texas.
Q: Who will be the president of NYSE Texas?
A: Bryan Daniel, the former chairman of the Texas Workforce Commission, will serve as the president of NYSE Texas.
Q: Where will NYSE Texas be located?
A: NYSE Texas will be located in the historic Old Parkland office campus in Oak Lawn, Dallas.
Q: What is the significance of NYSE Texas?
A: NYSE Texas will provide a physical presence for the NYSE in the state of Texas, allowing it to better support listed companies and integrate into the local business community.
Q: How will NYSE Texas contribute to the state’s economy?
A: NYSE Texas is expected to drive growth and establish a strong presence in the state, contributing to Texas’ history of strong economic growth.
Q: What is the timeline for NYSE Texas’ opening?
A: NYSE Texas is expected to open in 2026, with a signed lease in hand and plans to establish its presence in the state.
