The New York Stock Exchange (NYSE) is set to expand its presence in Texas, reincorporating its electronic exchange NYSE Chicago and renaming it NYSE Texas. The move comes as a competitor to the NYSE emerges in the state, with TXSE Group filing for registration of the Texas Stock Exchange with the Securities and Exchange Commission last month.
Texas has become an attractive destination for companies seeking a business-friendly environment, with Governor Greg Abbott citing environmental, social, and governance (ESG) regulations as a motivation for the state’s push to establish its own exchange. This move is part of a growing trend, as Tesla recently reincorporated in Texas after a legal dispute with Delaware over a CEO pay package.
The NYSE expansion into Texas aims to provide companies with an additional listing option in a market that has emerged as a competitor to Delaware, the current preferred jurisdiction for major companies. With trading done almost entirely electronically across exchanges, stocks can be listed on multiple exchanges, including those designated as their primary listing and those like NYSE Texas.
The reincorporation of NYSE Chicago into NYSE Texas is expected to give companies more flexibility in choosing a home base for their stocks, following the state’s pro-business atmosphere.
Source: https://www.cnbc.com/2025/02/12/the-new-york-stock-exchange-is-launching-an-exchange-in-texas.html