Governor Greg Abbott rings the NYSE closing bell at AT&T Stadium with Lynn Martin, Jerry Jones, John Stankey, and Texas founding members as Dallas Cowboys Cheerleaders look on. [Photo: Dallas Innovates]

Lynn Martin
President,
NYSE Group
… speaking at the launch of NYSE Texas at AT&T Stadium on Wednesday.

Texas just scored a financial touchdown at the 50-yard line.

Governor Greg Abbott rang Wednesday’s NYSE closing bell from “Y’all Street” with NYSE Group’s Lynn Martin, Cowboys owner Jerry Jones, AT&T’s John Stankey, and other stakeholders at his side. The sound that ended trading for global markets came from AT&T Stadium in Arlington, marking the launch of NYSE Texas, the first exchange ever incorporated in the Lone Star State.

Martin, president of the 232-year-old New York Stock Exchange, wasn’t just being polite to the home crowd when she made her earlier declaration. With more than 200 NYSE-listed companies representing $4 trillion in market cap, Texas now leads every state in the nation—including New York.

“It’s the only word we can use—we’re thankful for your business,” Martin told the 49 founding members who have already joined NYSE Texas. “It pushes us to do our jobs every day, to be the North Star—no pun intended, since we are a little bit further north of you in New York.”

Governor Abbott spelled it out: “There’s a new phrase, not just in the streets of Texas—a new phrase expanding across America and literally across the globe—Y’all Street,” he said. “Y’all Street is now expanding and the roots are right here in the Dallas-Fort Worth area. This is the home of the economy.”

Abbott pointed to the state’s No. 1 rankings in job creation, economic development, and financial-sector employment, along with what he called a new constitutional ban on financial transaction taxes, such as stock trades—pending voter approval in November—that would join the state’s existing prohibition on personal income taxes.

“We’ve got to keep our vision going forward,” he continued. “Vision going forward requires us to pass policies that will continue to attract and grow businesses here in the state.”

Before ringing the bell, Abbott declared Texas the “home of financial exchanges, going forward.” And Wednesday, the “epicenter” was wearing cowboy boots.

For more of who said what about all things North Texas, check out Every Last Word.

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