Trump’s Social Media Firm Leads Launch of NYSE Texas Exchange

New York Stock Exchange opens ‘pro-business’ platform in Texas, starting with Trump Media shares

The New York Stock Exchange (NYSE) has launched its new Texas-based platform with Donald Trump’s social media company, Trump Media & Technology Group (TMTG), as the first stock to trade on it. The move reflects a growing push to attract businesses to states with lower taxes and lighter regulation.

Why Texas?

The NYSE has rebranded its old Chicago operation as “NYSE Texas” to take advantage of Texas’s reputation as a business-friendly state. Although no employees have actually moved to Texas — and the servers remain in New Jersey — the symbolic shift highlights the state’s rising importance in US finance.

TMTG’s CEO Devin Nunes praised the decision:

“Texas offers a fantastic climate for business that fits with our company’s mission.”

He also confirmed that the company plans to reincorporate in Florida, reinforcing the trend of moving operations to states that support free enterprise and personal freedom.

How Did the Stock Perform?

TMTG, which operates Truth Social and trades under the ticker DJT, fell by 6% early on Monday but recovered slightly to close 1.5% down. The stock has now dropped over 40% this year, partly due to investor worries over Trump’s aggressive trade policies that are affecting broader markets.

Tensions with Nasdaq

Trump’s relationship with traditional stock exchanges has been rocky. Last year, Nasdaq temporarily halted trading of DJT shares after a sudden price spike. Trump accused the exchange of acting unfairly and following orders from regulators.

In reality, trading halts are common when demand and supply are unbalanced, and the US Securities and Exchange Commission (SEC) has the power to suspend trading temporarily to protect investors.

Other Companies Join the Texas Push

Texas’s financial scene is growing quickly:

• Newsmax, a right-leaning media company tied to Trump, also started trading on NYSE Texas on Monday. Its stock jumped over 200% before being briefly paused due to volatility.
• Another group, the Texas Stock Exchange, backed by investment giants BlackRock and Citadel Securities, is also waiting for approval to launch as a new national exchange.

These developments are part of a broader move to shift financial power away from Wall Street and towards more regulation-light environments like Texas.

Political and Financial Ties

The NYSE’s parent company, Intercontinental Exchange, is led by Jeffrey Sprecher, a known Trump supporter, along with his wife Kelly Loeffler, a former senator and political ally.

Lynn Martin, president of the NYSE Group, said:

“We applaud Trump Media and the state of Texas for supporting innovation in US capital markets.”

In Summary

The debut of NYSE Texas, led by Trump’s media firm, marks a major shift in how and where companies choose to trade. As political influence grows in financial markets, more businesses could follow the path from traditional Wall Street to low-tax, business-friendly states like Texas.

Sources: (SKY.com, FT.com)