Texas Stock Exchange Dallas

[DFW]

A new National Stock Exchange in Dallas, Texas?

https://www.wfaa.com/article/news/lo...0-c46ebfb03c66

https://www.dallasnews.com/business/...outputType=amp

[Dariusb]

Originally Posted by DFW

A new National Stock Exchange in Dallas, Texas?

https://www.wfaa.com/article/news/lo...0-c46ebfb03c66

https://www.dallasnews.com/business/...outputType=amp

Dallas if it happens would be the 4th stock exchange in the country right? Correct me if I'm wrong but besides NYC, there's also Chicago and San Francisco?

[craigs]

Originally Posted by Dariusb

Dallas if it happens would be the 4th stock exchange in the country right? Correct me if I'm wrong but besides NYC, there's also Chicago and San Francisco?

The Pacific Exchange, which had trading floors in San Francisco and Los Angeles, was the successor of two late 19th-century independent stock exchanges in SF and LA. They merged in 1956. The Los Angeles trading floor closed (physically) in 2001 and the San Francisco trading floor closed in 2002. The Pacific Exchange was bought out by a company and then merged with the New York Stock Exchange in 2006. The SF building became a gym. The LA building became a night club.

San Francisco:


Los Angeles:




Apparently, the Los Angeles branch of the Pacific Exchange moved to this building at some point before the merger with the NYSE. The trading floor had views of the downtown skyline:

[SIGSEGV]

Originally Posted by Dariusb

Dallas if it happens would be the 4th stock exchange in the country right? Correct me if I'm wrong but besides NYC, there's also Chicago and San Francisco?

Philly, Miami, Boston also have have stock exchanges of one kind of another. I don't think SF does anymore.

[ChiND]

This is pretty comical!

[xzmattzx]

Originally Posted by Dariusb

Dallas if it happens would be the 4th stock exchange in the country right? Correct me if I'm wrong but besides NYC, there's also Chicago and San Francisco?

And the Philadelphia Stock Exchange, now owned by NASDAQ since 2007 but still active.

There used to be many more stock exchanges, like the Baltimore Stock Exchange, Washington Stock Exchange, Pittsburgh Stock Exchange, Boston Stock Exchange (which apparently ceased only in 2007, or is now owned by NASDAQ), Colorado Springs Stock Exchange, Cincinnati Stock Exchange, Detroit Stock Exchange, Arizona Stock Exchange, and others. These are all separate from oil exchanges and mining exchanges.

There used to be a ton of exchanges back in the day. Stocks weren't just traded on Wall Street, but we tend to think that now.

[wwmiv]

Originally Posted by xzmattzx

And the Philadelphia Stock Exchange, now owned by NASDAQ since 2007 but still active.

There used to be many more stock exchanges, like the Baltimore Stock Exchange, Washington Stock Exchange, Pittsburgh Stock Exchange, Boston Stock Exchange (which apparently ceased only in 2007, or is now owned by NASDAQ), Colorado Springs Stock Exchange, Cincinnati Stock Exchange, Detroit Stock Exchange, Arizona Stock Exchange, and others. These are all separate from oil exchanges and mining exchanges.

There used to be a ton of exchanges back in the day. Stocks weren't just traded on Wall Street, but we tend to think that now.

The way it should be… many laugh when developments like this happens (see the comment above saying “this is pretty comical”), but we should as a country be trying to move back to a more even distribution of everything.

[DCReid]

The Chicago's exchanges are still active and significant - options/mercantile/ board of trade. Wiki states the mercantile exchange is the world's largest. CME group owns the Chicago exchanges. But, I believe that CME group threatened to move a few years ago. I certainly hope that it does not move but Texas has a penchant for landing companies that relocate. I would never have expected Caterpillar to move its HQ from the farmland midwest but it moved to Dallas a few years ago.

[iheartthed]

Since trading is mostly done digitally, I'm not sure that being the location of a stock exchange really means much. Technology and industry consolidation killed off all of the regional exchanges that once existed.

[3rd&Brown]

Originally Posted by wwmiv

The way it should be… many laugh when developments like this happens (see the comment above saying “this is pretty comical”), but we should as a country be trying to move back to a more even distribution of everything.

I agree. Much of the polarization that has happened in this country in the past two decades, I'd argue, is because a few winning cities were chosen to get literally everything and everyone else is left to fight over the crumbs.

I'd go sofar as saying it's a matter of national security.

[3rd&Brown]

Originally Posted by iheartthed

Since trading is mostly done digitally, I'm not sure that being the location of a stock exchange really means much. Technology and industry consolidation killed off all of the regional exchanges that once existed.

Right. So there's no reason it has to be in NYC.

[iheartthed]

Originally Posted by 3rd&Brown

Right. So there's no reason it has to be in NYC.

New York won out because it was the biggest city with the most capitalized banks after deregulation flattened the finance industry. The stock market doesn't have to be anchored in NYC, but the inertia will keep it there for a long time.

[dimondpark]

Originally Posted by ChiND

This is pretty comical!

Yeah, they are calling it an 'anti-woke' stock exchange

https://www.msn.com/en-us/money/comp...e-verthp-feeds

[ChiND]

Originally Posted by dimondpark

Yeah, they are calling it an 'anti-woke' stock exchange

https://www.msn.com/en-us/money/comp...e-verthp-feeds

I can’t stop laughing about this absurd proposal.

[chris08876]

Wouldn't Austin make more sense? For this Stock Exchange?

[Trae]

Originally Posted by chris08876

Wouldn't Austin make more sense? For this Stock Exchange?

Nope, Dallas is a far larger financial/banking area than Austin

[Dariusb]

Thanks craigs and xzmattzx for the additional information.

[UrbanImpact]

Originally Posted by dimondpark

Yeah, they are calling it an 'anti-woke' stock exchange

https://www.msn.com/en-us/money/comp...e-verthp-feeds

They could name it Insurrectionist Exchange

[tdawg]

Not sure this makes sense. And the Intercontinental Exchange (ICE), which owns the NYSE, is based in Atlanta but I don’t know much or if any actual trading occurs there or if they’re just a parent company.

[R1070]

Originally Posted by chris08876

Wouldn't Austin make more sense? For this Stock Exchange?

Why would you think that over Dallas or Houston?