The New York Stock Exchange (NYSE) has announced plans to launch an exchange in Dallas, Texas, as part of its expansion into the Lone Star State. The new exchange, NYSE Texas, will be a fully electronic equities exchange, providing companies with a new venue to list their securities.
Texas’s business-friendly environment and favorable regulatory climate have attracted high-profile firms such as Tesla and SpaceX, which have relocated their headquarters to the state. According to Lynne Martin, president of NYSE Group, Texas is “a market leader in fostering a pro-business atmosphere.”
The launch of NYSE Texas was met with praise from Governor Greg Abbott, who stated that the exchange will help cement Texas’s position as an economic powerhouse on the global stage. A potential competitor, the Texas Stock Exchange (TXSE), has also been announced, which is backed by financial giants such as BlackRock and Citadel Securities.
The TXSE aims to launch in 2026 and will also be a fully electronic equity exchange headquartered in Dallas. With this move, NYSE Group is expanding its presence in the US market and solidifying Texas’s position as an attractive destination for businesses.
Source: https://www.foxbusiness.com/markets/new-york-stock-exchange-plans-exchange-pro-business-texas