Proposed Texas Stock Exchange Raises Profile Of Texas MBA Programs

The proposed Texas Stock Exchange in Dallas is a step to secure Texas’ position as an economic powerhouse. The business-friendly air of Texas, which is now home to more Fortune 500 companies than any other state, extends to the TXSE. MBA programs in the state may see new opportunities to attract top talent and keep people in Texas.

“The Texas Stock Exchange will be very beneficial for the State of Texas and to the University of Texas,” wrote Professor Clemens Sialm, the chair of the finance department and director of the AIM Investment Center at the McCombs School of Business at the University of Texas Austin, in email correspondence.

Once approved by the U.S. Securities and Exchange Commission, the TXSE will be a fully electronic exchange with global reach. It has the backing of major liquidity providers, including BlackRock and Citadel Securities. “The liquidity providers backing TXSE Group Inc. represent a significant portion of the equity volume on U.S. lit exchanges and together comprise a majority of all U.S. listed retail volume,” according to TXSE.

“The new exchange will benefit Texas firms as they will now have the option to list locally, which will reduce their compliance costs relative to listing on the New York Stock Exchange or NASDAQ,” wrote Sialms. “The increase in competition across exchanges will also benefit investors.”

“The McCombs School will benefit as we can take on a leadership role in educating future finance leaders in Texas,” wrote Sialms. “The growing presence of finance in Texas provides our graduates outstanding job opportunities without having to leave Texas and will draw new students to our various programs.”

With roaring success in attracting new business and the prospect of a locally-based stock exchange, Texas stands both to attract and retain the talent necessary to maintain growth in the field of finance.

A prime example of the role of Texas education in the rise of Texas finance is James Lee. “We are also proud that James Lee, the founder of the Texas Stock Exchange, obtained both a BBA and an MBA from the University of Texas and is still closely connected with us,” wrote Sialm.

Mennette Larkin, founder of Admissions Unlimited, based in Austin, Texas, agrees that the benefits will be mutual. “The TXSE will be a game-changer for the top MBA programs in Texas,” Larkin said in a telephone interview,. Texas will become even more of a finance hub not only for employers, but for the leading business schools in Austin, Houston and Dallas.”

Larkin said, “Until now, my top clients from Texas have looked for MBA programs outside of Texas – such as HBS, Wharton, Stanford, Chicago Booth, Kellogg, or MIT Sloan. I anticipate that talented, young professionals working in finance, consulting, and tech will take the Texas schools much more seriously once the Texas stock exchange becomes a reality.”

The new stock exchange boosts opportunities for ambitious people to train instate, stay instate and grow the state of Texas.