Texas Stock Exchange, TXSE, could actually work, as long as it stays out of politics.
Texas Gov. Greg Abbott got a tour of the New York Stock Exchange with John Tuttle, head of corporate affairs with the exchange, right, Tuesday, July 14, 2015. Now, backers are planning to open a stock exchange in Texas.There was a time not long ago when we might have scoffed at the hubris of opening a national stock exchange in Dallas. After all, storied exchanges in Chicago, Philadelphia and Boston have long-since given way to the New York Stock Exchange and the Nasdaq.
Interestingly, one of the TXSE backers is BlackRock, a firm that has been at odds with Texas politicos lately. The Texas Permanent School Fund terminated BlackRock’s management of $8.5 billion in March over its climate policies promoting clean energy investments.That’s the one thing that could make us, and the market, sour on this deal — if it just becomes a politically motivated revenge tour. TheThe New York exchanges should face market responses for their social engineering.
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