Governor Abbott Rings Closing Bell At New York Stock Exchange
Governor Greg Abbott today rang the closing bell at the New York Stock Exchange (NYSE) in celebration of Texas Capital Bank launching its new Exchange-Traded Fund (ETF) & Funds Management division and flagship Texas Capital Texas Equity Index ETF (NYSE Arca: TXS) in New York City. As America's economic engine, Texas leads the nation with the most companies on the NYSE and is the only state with its own ETF.
"As the eighth-largest economy in the entire world and with an annual GDP of $2.35 trillion, it's about time Texas has its own ETF," said Governor Abbott. "Texas, Texans, and Texas businesses need access to capital. One way to provide that access to capital and expand capitalism in the state of Texas is through its own ETF—and all of you are making that happen here today. Washington, D.C. may be the capital of the United States of America, but Texas is the economic capital of America. Texas opens up opportunity and dreams to everybody."
The Governor joined Texas Capital Bank President and CEO Rob C. Holmes, NYSE Vice Chairman and Chief Commercial Officer John Tuttle, members of the Texas Capital Funds Trust, and other Texas Capital executives. Vice Chairman Tuttle also presented the Governor with a NYSE medallion in recognition of this historic event.
On the NYSE trading floor with hundreds of investors, floor brokers, and other stock traders, the Governor signed the historic Book of Distinguished Guests of the New York Stock Exchange before for the closing bell ceremony. After the ceremony, Governor Abbott participated in “tag the wall,” a tradition in which distinguished guests commemorate ringing the closing bell by writing on the wall in the stairwell behind the podium.
This is the Governor's second visit and closing bell ringing at the NYSE, following his first during an economic development mission in 2015. In 2017, Governor Abbott also hosted former NYSE President Tom Farley at the Governor's Mansion.
TXS enables investments in the Texas economy by providing an opportunity to gain exposure to one of the largest, most diverse, and fastest growing economies in the world. At the time of its launch, TXS included a diversified group of more than 210 publicly traded companies.