NYSE Texas will serve as a new listing venue for companies incorporated in Texas and around the world.
The New York Stock Exchange (NYSE) has announced plans to launch NYSE Texas, a fully electronic equities exchange based in Dallas, a move state officials say will help position Texas as the “financial capital of America.”
Under the plan, NYSE Chicago will be reincorporated and rebranded as NYSE Texas, providing companies with a new option for listing their securities in the Lone Star State, according to a Feb. 12 announcement by Intercontinental Exchange, Inc., NYSE’s parent company.
The NYSE’s expansion into Texas reflects the state’s growing appeal to businesses seeking a more favorable regulatory environment than traditional financial hubs like New York and California. Texas currently ranks seventh on the Tax Foundation’s State Tax Competitiveness Index, which evaluates how well state tax policies promote economic growth by reducing complexity and burdens on businesses.
“As the state with the largest number of NYSE listings, representing over $3.7 trillion in market value for our community, Texas is a market leader in fostering a pro-business atmosphere,” Lynn Martin, president, NYSE Group, said in a statement. “We are delighted to expand our presence in the Lone Star State, which plays a key role in driving our U.S. economy forward.”
Once operational, NYSE Texas will serve as a new listing venue for companies incorporated in Texas and around the world. NYSE said it plans to submit regulatory and corporate filings soon to finalize the reincorporation process “in the near term.”
Texas Gov. Greg Abbott hailed the move, emphasizing the state’s continued commitment to pro-growth economic policies that support business expansion.
“Texas is the most powerful economy in the nation, and now we will become the financial capital of America,” Abbott said in a statement.
“With the launch of NYSE Texas, we will expand our financial might in the United States and cement our great state as an economic powerhouse on the global stage.”
By Tom Ozimek
