Greater 210
New York has had a duopoly on U.S. stock exchanges for over 200 years. Texas is coming for it. In this episode, Jeff Webster sits down with Nicole Chambers, Global Managing Director at the Texas Stock Exchange (TXSE), to talk about why America's public markets are broken, what it's going to take to fix them, and why Texas is the only place bold enough to try. Nicole spent nearly 20 years at Nasdaq running IPOs across Texas and the Southwest before joining TXSE as one of its first five employees. Now she's helping build the first serious challenger to NYSE and Nasdaq, backed by BlackRock, Citadel, Charles Schwab, JP Morgan, Bank of America, and Goldman Sachs, with a trading platform set to launch in Q3 2026. They dig into why public companies have dropped 45% since the mid-90s, the private equity bottleneck choking off the IPO market, how Texas is becoming a rival to Delaware for corporate incorporations, and what it would mean to bring retail investors back into the wealth-building power of public markets. Chapters: * (00:00) – Meet Nicole Chambers: From Nasdaq to TXSE * (02:41) – Why She Left Nasdaq and What Was Broken in the Public Markets * (04:33) – Sarbanes-Oxley, SEC Overreach, and How Exchanges Became Regulators * (06:18) – The Texas Miracle: 170 Relocations, 52 Fortune 500s, and a Rising Financial Hub * (08:53) – The Backers: BlackRock, Citadel, Goldman and $275M Raised * (09:29) – How NYSE and Nasdaq Responded When Texas Came Knocking * (13:15) – The 2026 Roadmap: Trading Platform, ETFs, and the First Company Listings * (15:24) – The IPO Bottleneck: More PE Funds Than McDonald's Locations * (18:05) – The Real Tripwire: Taking On a 230-Year Duopoly Links and Resources: * Texas Stock Exchange [https://www.txse.com/]: https://www.txse.com/https://www.txse.com/ [https://www.txse.com/] * Greater San Antonio Chamber [https://www.sachamber.org/]: https://www.sachamber.org/https://www.sachamber.org/ [https://www.sachamber.org/] Podcast Production Services by https://everyword.mediahttps://EveryWord.Media [https://everyword.media]
22 episodios
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