Texas Stock Exchange Names Nasdaq, NYSE Veterans to Top Jobs

Companies that list on the exchange won’t need to meet any environmental, social and governance thresholds, in line with a pledge to slash burdensome regulations for businesses, Lee said at a press conference with Gov. Greg Abbott by his side.

Abbott and the Texas Republican Party have been at the forefront of efforts by lawmakers to crack down on so-called ESG investment practices that take into consideration non-financial factors such as environmental risks.

“This is as apolitical of an exchange as could ever be put together,” Lee said.

Marc Cunningham will serve as global managing director after working as a regional head of capital markets for the NYSE in Houston. Richard Fisher, the former Federal Reserve Bank of Dallas president, will be a strategic adviser, as will Brett Redfearn, a former director of the Division of Trading and Markets at the SEC.

TXSE named to its board Tom Long, the co-chief executive of Energy Transfer LP, and Paul Foster, who founded Western Refining Inc. Alex Bussandri, global head of strategy at Citadel Securities, will become a director. Tyson Tuttle, former CEO of Silicon Labs, will also serve on the board, along with former Texas Governor Rick Perry, among others.

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