The Trial Balance is CFO.com’s weekly preview of stories, stats and events to help you prepare.
Part 1 — NYSE Texas opens trading
The New York Stock Exchange Texas, the first securities exchange to be incorporated in the Lone Star state, is now live and “open for business.” Just last month, the New York Stock Exchange announced it was reincorporating its electronic exchange NYSE Chicago to Texas and renaming it NYSE Texas.
The rush to create an exchange in Texas comes as no surprise. The state is currently undergoing unprecedented growth in labor and business. Its capital of Austin, which has become a technology hub near the finance-centric Dallas metro area, has been credited as one of the few growing cities in America that has created successful initiatives to build affordable housing at scale amidst expansion.
The exchange’s creation and rapid launch come as the Texas Stock Exchange awaits SEC approval after announcing its plans in June 2024. In an inquiry on March 14, a TXSE spokesperson told CFO.com the firm had recently filed registration with the SEC and would only provide insight on plans and access to leadership once their Form 1 application is publicized by the commission. The TXSE has publicly said they tend to launch in early 2026.
Trump Media & Technology Group, the operator of social media platform Truth Social and founded by President Donald Trump, is the first company to be listed on the exchange. The company will trade under the ticker “DJT.”
“We are thrilled to open NYSE Texas to corporate issuers and to welcome Trump Media & Technology Group to our NYSE community through a NYSE Texas listing,” said Lynn Martin, president of NYSE Group. “This new offering, which we announced just last month, will allow companies to capitalize on the pro-business dynamics in Texas.”
As the NYSE notes in its release, the decision comes in tandem with organizations that are moving their headquarters to Texas as well. Within recent years, legacy brands with established headquarters in other areas have moved to Texas for its business-friendly environment, including Chevron, SpaceX, Yum Brands, Fisher Investments, Tesla and Oracle. Institutional investors are also expressing interest in the state’s expanding economy.
Leaders from the TXSE or the organization as a whole have yet to comment on the NYSE Texas’ launch. They also chose not to comment earlier this year on the announcement of the NYSE Texas’ creation.
Part 2 — This week
Here’s a list of important market events slated for the week ahead.
Monday, March 31
Tuesday, April 1
- S&P final U.S. manufacturing PMI, March
- Construction spending, Feb.
- ISM manufacturing, March
- Job openings, Feb.
Wednesday, April 2
- ADP employment, March
- Factory orders, Feb.
Thursday, April 3
- Initial jobless claims, week of March 29
- U.S. trade deficit, Feb.
- S&P final U.S. services PMI, March
- ISM services, March
Friday, April 4
- U.S. employment report, March
- U.S. unemployment rate, March
Part 3 — Controlling benefit costs
This week, contributing writer and CFO of PTI Technologies Steve McNally will publish a story on controlling employee benefit costs. Regardless of industry, CFOs have seen healthcare costs increase. McNally’s piece aims to help provide ways in which finance leaders can help alleviate some pressure on the seemingly spiraling costs of employee benefit offerings.
