Latest news with #TexasStockExchange
Reuters
a day ago
- Business
- Reuters
Texas Stock Exchange CEO says 35% of US-listed public companies would not qualify for a listing
June 5 (Reuters) - As many as 35% of the 4,600 companies now publicly traded on a U.S. stock exchange would not qualify to list on the proposed new Texas Stock Exchange, James Lee, CEO of the TXSE, told the Piper Sandler Global Exchange & Trading conference on Thursday. Among those that would not qualify, Lee said, are Chinese-based companies that do not meet "basic" U.S. listing standards. He said he expects most of the TXSE's new listings business to come from smaller and mid-cap companies. The TXSE first disclosed its plans last June and earlier this year filed seeking regulatory permission to launch, which its officials and backers have said could happen in the second half of 2025.
Yahoo
a day ago
- Business
- Yahoo
Texas Stock Exchange CEO says 35% of US-listed public companies would not qualify for a listing
By Suzanne McGee (Reuters) -As many as 35% of the 4,600 companies now publicly traded on a U.S. stock exchange would not qualify to list on the proposed new Texas Stock Exchange, James Lee, CEO of the TXSE, told the Piper Sandler Global Exchange & Trading conference on Thursday. Among those that would not qualify, Lee said, are Chinese-based companies that do not meet "basic" U.S. listing standards. He said he expects most of the TXSE's new listings business to come from smaller and mid-cap companies. The TXSE first disclosed its plans last June and earlier this year filed seeking regulatory permission to launch, which its officials and backers have said could happen in the second half of 2025. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
BlackRock removed from Texas boycott list after quitting climate groups
By Ross Kerber (Reuters) -Texas on Tuesday removed BlackRock from a list of companies seen as boycotting the energy industry, a step the New York asset manager won only with steep cuts to its climate ambitions. Texas Comptroller Glenn Hegar said the decision reflected BlackRock's retreats from industry climate groups like the Net Zero Asset Managers initiative. He also noted how the firm has lowered its support for shareholder environmental resolutions and backed a new Texas Stock Exchange. BlackRock "has acknowledged the real social and economic costs, both here in Texas and globally, that come from limiting investment in the oil and gas industry," Hegar said in a statement. The delisting will make it easier for Texas state agencies and funds to do business with the top asset manager. It could also help BlackRock answer claims brought by Texas Attorney General Ken Paxton over its environmental record. BlackRock representatives did not immediately comment. Hegar had added BlackRock and various European managers to his list in 2022 under a state law passed the prior year in response to Wall Street's embrace, at the time, of environmental and social investment priorities. Faced with the political pressure, various BlackRock rivals had also left industry climate groups and cut back on their support for shareholder resolutions, which called for changes like emissions cuts or limits. Democratic leaders and climate activists have accused the companies of going soft on their support for environmental matters they once touted. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
BlackRock removed from Texas boycott list after quitting climate groups
By Ross Kerber (Reuters) -Texas on Tuesday removed BlackRock from a list of companies seen as boycotting the energy industry, a step the New York asset manager won only with steep cuts to its climate ambitions. Texas Comptroller Glenn Hegar said the decision reflected BlackRock's retreats from industry climate groups like the Net Zero Asset Managers initiative. He also noted how the firm has lowered its support for shareholder environmental resolutions and backed a new Texas Stock Exchange. BlackRock "has acknowledged the real social and economic costs, both here in Texas and globally, that come from limiting investment in the oil and gas industry," Hegar said in a statement. The delisting will make it easier for Texas state agencies and funds to do business with the top asset manager. It could also help BlackRock answer claims brought by Texas Attorney General Ken Paxton over its environmental record. BlackRock representatives did not immediately comment. Hegar had added BlackRock and various European managers to his list in 2022 under a state law passed the prior year in response to Wall Street's embrace, at the time, of environmental and social investment priorities. Faced with the political pressure, various BlackRock rivals had also left industry climate groups and cut back on their support for shareholder resolutions, which called for changes like emissions cuts or limits. Democratic leaders and climate activists have accused the companies of going soft on their support for environmental matters they once touted. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
3 days ago
- Business
- Bloomberg
Texas Stock Exchange Stands by 2026 Debut
The Texas Stock Exchange is on track to make its debut as a trading venue early next year as its powerful rivals intensify their push into the state, said Jeb Hensarling, an adviser to the proposed marketplace and former US congressman. After the start of trading, the upstart exchange aims eventually to add dual listings, initial public offerings and exchange-traded products, Hensarling said Tuesday in an interview with Bloomberg Television. The TXSE is seeking federal regulatory approval as a national securities exchange after applying earlier this year.
