Sign up for TPR Today, Texas Public Radio's newsletter that brings our top stories to your inbox each morning.
Nasdaq rang its ceremonial opening bell at Alamo Plaza on Thursday as Texas Gov. Greg Abbott, company leaders, and business executives gathered to mark the launch of Nasdaq Texas and the first time the exchange broadcast its weekday market-opening ceremony from San Antonio rather than its usual location in New York’s Times Square.
Nasdaq has been expanding its presence in Texas as financial firms increasingly move operations to the state. The push comes as several exchanges compete to establish a foothold in the state’s growing financial sector, including the Dallas-based Texas Stock Exchange.
Abbott said the bell ringing highlights the state’s commitment to economic growth.
“We are proud that Nasdaq does business and has a location in the great state of Texas ensuring that Texas is the pathway forward for finance, and for capitalism," Abbott said. "Texas will lead the way in protecting capitalism and all that it can achieve in the United States of America.”
Nasdaq Chair and CEO Adena Friedman said the spirit of the Alamo helped inspire the ceremony, with several speakers pointing to the growth of Texas finance — sometimes dubbed “Y’all Street.”
“Today, from a place that symbolizes courage, resilience and endurance, we are thrilled to celebrate the official launch of Nasdaq Texas," Friedman said.
Steven Steinour, CEO of Huntington Bank, said the company’s roots trace back to the founding of the United States. One of its historical namesakes, Samuel Huntington, signed the Declaration of Independence.
“On this hallowed ground that we're at today it reminds me of the family that founded Huntington, and the importance of being true to the spirit of entrepreneurship and innovation,” Steinour said. “That resides nowhere in the states better than here in Texas.”
Nasdaq leaders travel throughout the country several times a year for ceremonial bell events. Thursday’s ceremony came on the eve of the anniversary of the Battle of the Alamo, which took place March 6, 1836.
