By Niket Nishant
(Reuters) -Trump Media & Technology Group said on Monday that it has become the first company mentioned on NYSE Texas and hands over an early boost to the exchange while it is committed to fierce competition in the Lone Star State.
The company, which manages Truth Social and is mainly owned by US President Donald Trump, said it will also mention his warrants about the Exchange of Texas. However, the primary list remains on the Nasdaq.
The move could strengthen Intercontinental Exchange ownership NYSE, which became the first exchange that operated in Texas on Monday.
The State is the home base of the largest number of companies mentioned on the New York Stock Exchange, with a combined market value of more than $ 3.7 trillion, and now sees increasing competition for market dominance between fairs.
NYSE will have to fight with rival Nasdaq, who promised to open a regional headquarters in the state earlier this month, and the Texas Stock Exchange, a company that is supported by heavyweights, including BlackRock and Citadel Securities.
The Texas Stock Exchange submitted paperwork in January to work as a national stock exchange and looks at a launch in 2026.
“This offer, in addition to our plans to re -create in Florida, shows that we are part of a growing movement to take our company to set that value -free undertaking and personal freedom,” said Devin Nunes, CEO of Trump Media.
Changing landscape
Trump Media is a popular share of the retail forums of the retail trade and has often seen wild attacks of volatility in the past, such as the American elections in November.
Securing the offer is an important victory for the NYSE, but some consider the move as ‘symbolic’ – a perception that the exchange will probably have to change, while the liquidity is also strengthened.
Nevertheless, the growing competition between offers can strengthen the rise of the state as a financial hub and a challenger to New York.
“The business-friendly environment of Texas lack of all political issues and a stronger focus on what company should be a really unique position,” says Derek Wilson, co-founder of Dallas Opportunity Partners, an investor in the Texas Stock Exchange.
The announcement was on the heels of a request on Friday that BlackRock’s Ishares-Division SEC goods inspection has requested to launch a Texas-oriented stock market-built fund. The giant of assets management has the exchange on which it claims not to mention the ETF.
The fund will invest in shares of companies with head office in Texas that form the Russell Texas Equity Index, a subset of the Russell 3000 index. Unless supervisors block or postpone the offer, it can start by acting at the beginning of June.
(Reporting by Niket Nishant in Bengaluru; adaptation by Leroy Leo and Chizu Nomiyama)
