Monthly people move spotlight: Rachel Racz joins Nasdaq
Photo illustration: Axios Visuals. Photo: Courtesy of Rachel Racz
Rachel Racz was named head of listings for Texas, Southern U.S. and Latin America at Nasdaq in September.
Why it matters: Racz's appointment comes as the Texas Stock Exchange advances toward its expected launch next year.
Zoom in: Racz says it's not new for Nasdaq to have a senior vice president running a region, and she will focus on closer connections with clients at the local and regional level, specifically responding to client needs and aiding with national advocacy efforts.
The intrigue: TXSE announced a board of directors in September and plans to register with the U.S. Securities and Exchange Commission with backing from BlackRock and Citadel Securities.
- The exchange wants to challenge the NYSE and Nasdaq by giving companies and investors an alternative.
What she's saying: "We're not averse to competition," Racz says, noting they compete with 13 exchanges. "We're competing literally for every microsecond, and we win on most of that."
What we're watching: Racz expects to see an influx of activity in 2025.
- "We have a really big backlog of companies that are excited about accessing the capital markets," Racz says. "We talked to three companies today that are holding off on their IPOs until Q1."
How she got here: Racz was working in D.C. out of college when she came back to Houston for a rodeo and connected with Nasdaq executives.
- "I'd never bought a stock in my life," Racz says. "But I started my career at Nasdaq working ... in Texas, and that grew to working with all of the energy companies for the exchange back when oil and gas companies would go public."
Best advice: Racz says a memory she always comes back to — and tries to implement herself — is observing energy executive Dan Pickering give handwritten thank-you notes to everyone he met with.
- "My career path has been fueled by relationships," Racz says.
Fun fact: Racz was the No. 1 chicken salesperson for three straight years at the Houston Livestock Show and Rodeo.
