Nasdaq Texas launches new dual-listing exchange with historic Battle of Alamo ceremony

SAN ANTONIO, Texas - Nasdaq officially launched its new Texas-based exchange on Thursday with a closing bell ceremony at the Alamo. The Nasdaq Texas launch signifies a structural expansion of the state’s role in U.S. capital markets, as the exchange opens a new dual-listing venue in the Lone Star State.

The event was held Thursday, March 5, 2026, the 190th anniversary of the Battle of the Alamo, bringing together Gov. Greg Abbott, Lt. Gov. Dan Patrick, San Antonio Mayor Gina Ortiz Jones, Nasdaq CEO Adena Friedman and executives from six companies that are becoming the first to dual-list on the new Nasdaq Texas venue.

What is Nasdaq Texas?

What we know:

In order to operationalize its new venue, Nasdaq reincorporated its Nasdaq BX exchange to Texas, making Nasdaq Texas not just operationally active but legally domiciled in the state. The move allows publicly traded companies to align with Texas corporate governance while allowing access to Nasdaq’s trading platform, liquidity and global investor base.

For companies, dual-listing on Nasdaq Texas does not replace their existing Nasdaq listing. Instead, it provides an additional listing venue rooted in Texas law. 

Nasdaq says the process is seamless and allows companies to maintain access to its global technology and investor network while signaling alignment with the state’s governance framework.

Companies choosing a Texas-based exchange

Big picture view:

More than 200 Texas-based companies are already listed on Nasdaq, representing nearly $2 trillion in market capitalization. 

The new exchange venue gives firms, and others, the option to dual-list in Texas, a move designed to reinforce the state’s growing influence in finance, energy, technology and manufacturing.

The following companies were the first cohort of companies to dual-list on Nasdaq Texas and reflect the economic diversity of Texas’ major metro regions.

• Houston-based Apache Corporation and energy services company ProFrac Services underscore the continued dominance of the energy sector.
• Firefly Aerospace, which has major operations in Central Texas, represents the state’s expanding aerospace and defense footprint.
• Construction Partners and J.B. Hunt highlight the infrastructure and logistics networks critical to the fast-growing Dallas-Fort Worth and Houston corridors.
• Huntington Bancshares’ expanded Texas presence points to continued financial sector growth across the state.

Gov. Abbott and Nasdaq on the future of ‘Y’all Street’

What they're saying:

Rachel Racz, Nasdaq’s senior vice president and head of listings for Texas and the central and southern U.S., said the exchange’s presence reflects a long-term commitment.

"Nasdaq is here because we believe the independent spirit of this state deserves direct access to global capital and global opportunity," she said.

Gov. Abbott highlighted another Governor's Cup victory, highlighting the state’s recent economic rankings, including leading the nation in job growth, corporate re-locations and capital investment. 

"This is a milestone not just for Nasdaq, but for Texas," he said. "It is only right that Texas ranks number one for the capital markets that drive capitalism."

Why Nasdaq chose the Alamo

Local perspective:

While at The Alamo, speakers repeatedly referenced Texas’ history of independence and resilience, drawing parallels between the 1836 battle and the state’s economic trajectory. The symbolism was to reinforce Texas’ reputation as a business-friendly environment that has attracted companies from across the country.

Nasdaq CEO framed the expansion as a natural alignment between Nasdaq and Texas.

"Texas has long represented what it means to be bold. To take risks. To build. To lead," she said. "That spirit mirrors Nasdaq's own story. We were founded to challenge convention, to modernize markets and expand access to capital for innovators who shape the future."

Lt. Gov. Patrick called the launch of Nasdaq Texas a reflection of what he described as "all America used to be."

"This is hallowed ground we stand on. We have fought in this state for liberty and independence. And that's the reason people have moved here from all over the country and all over the world. We've added 11 million people to Texas just in the last 18 years. Businesses come here from every part, why?" Patrick asked.

"Because this is the America that all America used to be. We're proud to have Nasdaq here today. We're proud to ring the bell. And we're proud that they did it here at the site of the Alamo."

Dig deeper:

After the outdoor bell-ringing ceremony, the program moved inside the Alamo’s Education Center for a discussion on Texas’ economic momentum and the role capital markets play in sustaining growth.

As Texas continues to add residents and attract corporate headquarters, state leaders say Thursday’s launch of Nasdaq Texas signals that the infrastructure of Wall Street is increasingly finding a home in the Lone Star State.