NYSE Launches Texas-Based Stock Exchange, Challenging Wall Street’s Dominance

The New York Stock Exchange building in New York City, on Sept. 27, 2022. Mary Altaffer/AP Photo

The New York Stock Exchange (NYSE) has announced plans to launch NYSE Texas, a fully electronic equities exchange based in Dallas, a move that 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., the 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 such as 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.

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.”

The establishment of NYSE Texas coincides with the rise of another major exchange in the state. TXSE Group recently announced that it had filed with the Securities and Exchange Commission to register the Texas Stock Exchange (TXSE) as a national securities exchange. The company has raised $161 million in an initial funding round and plans to begin trading in early 2026.

The TXSE’s founding investors include some of the biggest names in finance, such as BlackRock, Citadel Securities, and Charles Schwab. The exchange is also seeking additional financing to accelerate its expansion.

“Today marks another milestone in our journey to make the Texas Stock Exchange a reality,” James Lee, founder and CEO of TXSE Group Inc., said in a statement. “The market power of our investors reflects the depth of commitment to the success of this exchange, not just in the early years but over the next decade and beyond.”

With NYSE Texas and TXSE both establishing operations in Dallas, Texas is quickly emerging as a major player in U.S. financial markets. As businesses seek new listing options and a pro-growth regulatory environment, the Lone Star State is positioning itself as a strong alternative to Wall Street and a key driver of the future of U.S. finance.