We woke up today to a rather fascinating story. Dallas may have a new resident soon and I don't mean the NFL Chiefs coming back to their original location.

This is the story:

Capital giants BlackRock and Citadel are among the headline investors in a group that is seeking to bring a new national stock exchange to the Lone Star State. 

James H Lee, Chairman and CEO of Texas Stock Exchange, says the group leading the project has already raised $120 million. 

“With the demand we are seeing from investors and corporations for expanded alternatives to trade and list equities, this is an opportune time to build a major, national exchange in Texas,” Lee said via LinkedIn. 

The Texas Stock Exchange is set to be headquartered in Dallas, a finance powerhouse in the state, and Lee said that the project already has more than two dozen investors. 

Why Texas? That was my question when I heard it. It turns out that the people with money, or job creators, as my late father used to call them, like what we are doing here. Here is more:

Texas was chosen because of its blistering economic growth, and because of the economic growth of states surrounding it. 

A release from TXSE also pointed out that Texas is home to more Fortune 500 companies than any other state and more than 5,200 private equity sponsored companies. In addition, there are more than 1,500 publicly traded companies throughout the southeast quadrant of the U.S. The new exchange is hoping to capitalize on the many companies that are preparing to access the public markets.

I guess that I knew all that about companies, but it's nice to hear it again.

So what's New York going to say about all this? I don't know, but maybe they can start by replacing "banana republic" judges and district attorneys targeting Trump rather than the criminals who roam the streets.

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Image: www.txse.com