Nasdaq Texas exchange begins full operational launch

Nasdaq, Inc. is set to complete the full operational launch of its Texas-based exchange following the close of markets on Thursday. This milestone follows the receipt of regulatory approval for its specific listing rules within the United States. The move signals a strategic expansion into a region that is increasingly positioned as a significant financial alternative to New York. The initiative, first announced last year, aims to capitalize on the status of Texas as a major economic center. By establishing a physical and legal presence in the state, the exchange operator offers public companies an alternative venue that leverages a business-friendly environment characterized by a favorable tax structure, reduced cost of living, and lower energy expenditures. Rachel Racz, the senior vice president and head of Listings for Texas, Central and Southern U.S., and Latin America, emphasized the long-term nature of the project. > The full launch of Nasdaq Texas represents a permanent, foundational commitment to the companies that want to build the future of the U.S. economy from this state. Nasdaq Texas has become fully operational as a dual-listing exchange and is now legally domiciled in the state. This structure allows issuers to maintain their visibility while rooting their regulatory home in Texas. A host of companies are expected to participate in the dual-listing framework, including APA Corporation, J.B. Hunt Transport Services, Inc., and Huntington Bancshares Incorporated. The parent exchange itself will also be among the entities utilizing the Texas listing option. The launch intensifies the competition for listings outside of the traditional Wall Street corridor. Nasdaq is facing pressure from Intercontinental Exchange, Inc., the parent company of the New York Stock Exchange, which also committed to launch an exchange in the state last year. Additionally, the market is awaiting the full entry of the Texas Stock Exchange (TXSE), a Dallas-based venture supported by major financial players such as BlackRock, Inc. and Citadel Securities. The U.S. Securities and Exchange Commission approved the TXSE as a national securities exchange in September.