Ray Perryman - President, The Perryman Group Joins Houston's Morning News

Episode Transcript

Speaker 1 (00:00):
All right, we won't be doing the Wall Street shovel,
but we might be doing the Texas two step up
in Dallas for the Texas Stock Exchange. Ray Paaraman joins,
us president of the Paramoun Group. Welcome to the show, sir.
How soon before the Texas Stock Exchange becomes a reality.

Speaker 2 (00:15):
Well, I think their plan is to have it in
place by late next year or early twenty twenty six.
That the process is well underway, a lot of the
SEC approvals have been attained, a lot of the major
financial houses have come into to be a part of it,
so it should.

Speaker 3 (00:28):
Be happening in the relatively near future.

Speaker 1 (00:30):
I know the black Rock is involved, whether that that
name kind of scares a few folks, but.

Speaker 2 (00:34):
But what Yeah, but it's also interest Charles schwab Lot.

Speaker 3 (00:38):
There's a lot of them involved right now.

Speaker 1 (00:39):
Okay, why Texas? What and how does this change Texas
culture to have something like this going on here?

Speaker 2 (00:47):
Well, I don't think it'll change Texas culture a lot. Basically,
the stocks are now bought and sold almost entirely by electronically.
I mean, you could be doing it right now while
we're talking, and we weren't. Just fine, and so there's
no need to have it all centralized at one place
like there was at.

Speaker 3 (01:03):
One point in our history.

Speaker 2 (01:05):
And Texas is obviously a fast growing state, the sun
Belts fast growing region. Dallas has been the financial center
of that area for a long time, and in particular,
we have a lot of companies in Texas that are
ready to go public or are ready to access the
financial markets in some way, and Texas can be a
little more efficient in New York and doing this, and
so it's something that I think makes a lot of

(01:25):
sense to happen. It's been talked about for a long time,
and I'm glad to see them finally going the trigger.
Texas is already second to New York in investment, banking, employment,
and that sort of thing. And over the past twenty years,
New York's gone by sixteen percent, in Texas has grown
by one hundred and eleven. So we're gaining on them,
and I think it's the right time to do.

Speaker 3 (01:44):
Something like this.

Speaker 1 (01:45):
Rat do you think that potentially brings even more company
headquarters here to Texas.

Speaker 3 (01:50):
It's possible.

Speaker 2 (01:50):
I mean, that's probably not the most likely scenario, because again,
people from everywhere can be a part of it.

Speaker 3 (01:57):
And that sort of thing.

Speaker 2 (01:58):
What I think it really does though, is help bring
more their financial activity to Texas and also helps companies
in Texas to access public.

Speaker 3 (02:06):
Markets more, to have more access to UH.

Speaker 2 (02:07):
To stock money, equity money, debt money, that sort of thing,
to grow grow themselves. So Texas has already has more
Fortune five hundred companies than anybody else. And you can
be a Fortune five hundred company and locate wherever you
want to, and I think we'll continue to be successful
in that. But this is this is one more thing
in in the arsenal we will have. But I don't
think it will be the tipping point for too many companies.

Speaker 1 (02:28):
Okay, this fascinates. I mean, what what sort of synergy,
if you will, would the Texas Stock Exchange have with
Wall Street? Would would it be completely separate, would it
have would it would have any synergy between these two.

Speaker 2 (02:42):
Well, basically they would probably compete to some extent for
new for new location or new locations, new listings, that
type of thing. But but yeah, absolutely there there would
be some synergy with that because again, companies could potentially
in the early days, probably start out on the Texas
Exchange and then maybe grow up so to speak to
to Wall Street, much like a lot of Nasdaq stocks

(03:03):
grow up to the New York Stock Exchange. But I
think over time this one will grow and you may
see it actually flowing in the other direction. And some
of the companies on Nasdaq may decide as they move
to the next step that Texas is a better place.
Texas can do it most of the regulations federal and
the SEC on stocks and bonds, but the part of
it that is states, Texas can do it much more
efficiently at a lower cost. And I think so there's

(03:25):
a lot of advantages I think to doing it here, but.

Speaker 3 (03:27):
I think, you know, there'll be a little bit of
competition and a little bit of senergy taking place there. Interesting.

Speaker 1 (03:31):
Ray, thanks for coming on, appreciated President of the Paramott Group.
Pleasure you bet Ray Perryman. It is seven twenty six