The New York Stock Exchange is planning to launch a stock exchange in Texas. This is the latest company seeking slices of the financial services industry in low-tax and low-regulation states.
The NYSE said it will restructure its NYSE Chicago business in Texas and pending regulatory submissions to begin a full electronic exchange in Dallas. He said the exchange will serve businesses in Texas and around the world.
The NYSE move highlights the growing appeal of Texas, for businesses and financial companies seeking to benefit from a more relaxed regulatory environment than blue states such as New York and California. Dallas is the host of the Texas Stock Exchange, and is expected to start trading in early 2026, with BlackRock Inc. and Citadel Securities counting among its backers. Last year, NASDAQ reorganized its listing business into three regional divisions, including Texas.
“As a state with the largest number of NYSE lists representing market value of over $3.7 trillion in our community, Texas is the market leader promoting a professional business atmosphere,” NYSE President Lynn Martin said in a statement. Ta.
The NYSE plan further boosts the Dallas-Fort Worth area, where there are more financial workers than Chicago and Los Angeles, and only tracks New York. Goldman Sachs Group Inc. has built a new campus in Dallas and houses around 5,000 employees.
“May be financially.”
“With the launch of NYSE Texas, we will expand our financial strength in the United States and solidify our great nation as an economic powerhouse on the global stage,” said Texas Governor Greg Abbott.
The state is known for its business-friendly approach, but the Texas Stock Exchange faces several other challenges. It was already fighting for climbing uphill to secure the list. As businesses began to repeatedly make diversity and environmental pledges, avoiding what is considered political requirements, such as board components, has lost a punch. You also need to bite business from private equity.
“They are not only competing with the New York Stock Exchange and the Nasdaq, but Bloomberg Intelligence analyst Andrew Silverman said. “They are also competing with Blackstone. They also They are competing with Apollo. They are also competing with Berkshire Hathaway.”
TXSE Group Inc., the parent company of the proposed Texas Stock Exchange, recently said it closed its first round of funding at $161 million and that TXSE applied for registration as a stock exchange for the US Securities and Exchange Commission. I did.
“We are committed to working closely with issuers and investors to provide the best venues for listings and world-class platform for trading,” a TXSE spokesman stated. It is stated in. “We’ve always known Texas is the perfect place to do business.”
The NYSE and its biggest rival NASDAQ dominate the IPO market. This rebounds after geopolitical uncertainty, inflation and long-term slump against higher interest rates. NASDAQ CEO Adena Friedman said last month that she hopes for a strong environment for the second quarter and that year.
“We’re committed to providing a great deal of support for our customers,” said David Choate, chief operating officer at Dallas-based brokerage company Capis. “If you’re hosting a financial company like Exchange, you want to be on the cutting edge of technology,” he said.
