I've been reading more about the topic and entering a market composed of 16 stock exchanges will not be an easy task for TXSE. The trading volumes between the various exchanges in the US are very distinct: since the beginning of the century, Nasdaq and NYSE have been leading the race, representing 15% and 20% of the trades, according to Bloomberg - as a "duopoly".

Other "regional" stock exchanges, such as Boston, Philadelphia, and Chicago, ended up merging with the two industry giants, this because they were unable to attract traders.

What benefits does choosing a local exchange bring to companies? In addition to tax relief, they typically offer incentives such as billboard marketing in the iconic Times Square or ringing the opening bell. Once registered, the company generates a constant profit for the exchange - unless it switches to a rival.