After months of speculation, the Texas Stock Exchange is confirming that they will set up shop at the Bank of America Tower at Parkside.
The Dallas Business Journal reported that while the exchange is well on the way to securing the location of the new Texas Market Center at 1919 Woodall Rodgers Freeway, some key hurdles remain. One key point is the installation of a live stock ticker on the outside of the building, which is set to be completed in the first quarter of 2027.
The Texas Stock Exchange also plans to add executive offices, a museum featuring historic Texas businesses and a broadcast studio to televise opening and closing trading ceremonies, mimicking the New York Stock Exchange, according to the outlet. In a statement issued in May, the Texas exchange said that the live ticker will indicate “that America’s economic center of gravity is shifting to Texas.”
The 30-story, 500,000 square foot tower’s proximity to Klyde Warren Park in Uptown links it to one of Texas’s highest-profile economic centers as part of a burgeoning financial district colloquially known as Y’all Street. Dallas-based fingerprints are all over the project’s development. A combination of KDC, the Miyama family and Pacific Elm Properties among others have staked their claim in the exchange’s ownership group.
While the exchange has local flavor, Y’all Street’s ambitions are international. Dallas has been aiming to lure investment and jobs away from financial juggernaut cities like New York and London to rehome to the Lone Star State. The pitch is a Texas classic: less regulation, zero state income tax, zero corporate tax and now the launch of a homegrown exchange.
The brand new exchange plans to launch trading sometime in July, with the initial public offering set for 2027. Around $275 million has been earmarked for the Texas exchange by a global group of investors that includes BlackRock, Citadel Securities, Charles Schwab, Goldman Sachs and the tower’s namesake Bank of America.
— Hunter Cooke
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