Texas Stock Exchange CEO Sees State Muscling In on NYC, Delaware

The head of the upstart Texas Stock Exchange said the state is making a serious play to reshape the US financial landscape, using new pro-business laws and a proposed ban on trading taxes to take on longtime power centers on the East Coast.

Governor Greg Abbott signed legislation this week aimed at strengthening legal protections for companies and curbing shareholder challenges, part of a broader strategy to lure corporate registrations from Delaware. Meanwhile, a ballot measure in November would ban taxes on securities transactions just as a group of New York lawmakers is pushingto bring back a state levy ...