Abbott visits Y'all Street
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With the strike of a gavel in Dallas, Gov. Greg Abbott on Thursday marked the end of the day's trading on the New York Stock Exchange over 1,500 miles away.
- The governor was in Dallas to unveil the new NYSE Texas office, located on the Old Parkland campus.
The big picture: NYSE Texas launched last year as an equities exchange affiliated with the New York Stock Exchange. Dallas also houses the Texas Stock Exchange and Nasdaq Texas, cementing the city's reputation as a financial hub in the U.S.
Vibe check: NYSE Texas occupies one floor of the posh and pricey Old Parkland. Historic artifacts — including old maps, trading certificates and jackets worn by NYSE traders — decorate almost every nook.
- A wall of portraits honors Lone Star Legends such Mary Kay Ash, Dell Technologies CEO Michael Dell and Dallas Cowboys owner Jerry Jones.
- One conference room has a massive hide mosaic depicting a cowboy emerging from the prairie to join a large city.
Fun fact: Texas has the largest number of NYSE listings among all of the U.S. states, representing $4.8 trillion in market value, per the stock exchange.
- 127 companies currently have listings in NYSE Texas.
What they're saying: "This is something that we've been building toward for more than a decade now," Abbott said after ringing Thursday's closing bell.
- "For every business leader here, every business leader elsewhere in the country, let me leave you with this message: We're just getting started," he said.