The New York Stock Exchange, part of Intercontinental Exchange, Inc., a leading global provider of technology and data, announced plans to launch NYSE Texas, a fully electronic equities exchange, headquartered in Dallas, Texas. Pending the effectiveness of regulatory filings, NYSE Chicago will reincorporate in Texas and be renamed NYSE Texas, offering companies the opportunity to list their securities on NYSE Texas.
“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,” said Lynn Martin, President, NYSE Group. “We are delighted to expand our presence in the Lone Star State, which plays a key role in driving our U.S. economy forward.”
Lynn Martin, President, NYSE Group(Credit:NYSE Group)
Building on the NYSE’s 230 years of experience as the world’s leading exchange operator, the launch of NYSE Texas will provide public companies with a listing and trading venue centered within the vibrant economy of the southwestern U.S. With this launch, NYSE Texas will deliver a listing exchange to companies incorporated both in Texas and around the world that are attracted to Texas’ growing population, strong economy and business-friendly regulatory agenda. The NYSE plans to make regulatory and corporate filings to effect the reincorporation in the near term.
Texas Gov. Greg Abbott met with NYSE leaders to discuss the launch, local FOX 4 reported. “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,” Abbott said, according to FOX 4.
Competition is on the horizon. The Texas Stock Exchange (TXSE), supported by major financial firms like BlackRock, Citadel Securities, and Charles Schwab, has filed paperwork to operate as a national securities exchange and aims to launch in 2026, according to Reuters.
NYSE At Glance
Year founded: 1792 Location: New York City Market Cap: US$28.33 trillion (July 2024) No of listings: 2,223 (July 2024)
