# Why BlackRock is Building a New Stock Market... In Texas | How Money Works

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Text version: https://stenobird.com/podcast/how-money-works-7289568/why-blackrock-is-building-a-new-stock-market-in-texas-how-money-works.md
Podcast: [How Money Works](https://stenobird.com/podcast/how-money-works-7289568)
Published: 2026-07-25T13:54:00+00:00
Episode link: https://traffic.megaphone.fm/PODAGEN7320372936.mp3?updated=1778655973
Audio file: https://traffic.megaphone.fm/PODAGEN7320372936.mp3?updated=1778655973
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Duration seconds: 807

## Resource

Why BlackRock is Building a New Stock Market... In Texas Sign up for our FREE newsletter! - https://www.compoundeddaily.com/ Books we recommend - https://howmoneyworkslibrary.com/ My Other Channel: @HowHistoryWorks Edited By: Svibe Multimedia Studio Music Courtesy of: Epidemic Sound Select Footage Courtesy of: Getty Images For sponsorship inquiries, please contact sponsors@worksmedia.group Sign up for our newsletter https://compoundeddaily.com 👈 All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind. #business #finance #texas Last week Blackrock (the world's largest asset manager), and Citadel Securities (the world's largest hedge fund) teamed up to make a major announcement that could reshape global financial markets. They were going to team up to create a new wall street… in Texas. These two companies have the financial muscle to make a “Texas Stock Exchange” viable, but the question is… why? The startup exchange that will be located in Dallas is already taking shots to challenge the dominance of the New York Stock Exchange and the NASDAQ which are both located in New York City and are by far the largest exchanges in America, and also the largest exchanges in the world. Both of these incumbents are private businesses that make money by providing a place where public stocks and other financial instruments can be traded securely. They make their money by charging companies that want to list on their exchange a one time IPO fee and an ongoing annual fee. The New York Stock Exchange is really not much different to a farmers market where businesses will pay the market organizer for the right to sell their stuff in…

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