NEW YORK, UNITED STATES – January 28: A view of the New York Stock Exchange building in New York City, New York, U.S. on January 28, 2025. (Photo by Mostafa Bassim/Anadolu via Getty Images)
DALLAS – The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), announced on Wednesday plans to launch NYSE Texas, a fully electronic equities exchange, headquartered in Dallas.
Texas is home to more NYSE-listed companies than any other U.S. state, and this would give the companies an option to list their stocks in the Lone Star State.
On Monday, Governor Abbott met with NYSE: ICE Founder, Chairman, and CEO Jeffrey Sprecher and NYSE Group President Lynn Martin to discuss the launch.
Launching NYSE Texas
What they’re saying:
“Texas is the most powerful economy in the nation, and now we will become the financial capital of America,” said Governor Abbott. “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. I thank the New York Stock Exchange for choosing Texas. Working together, we will continue to advance pro-growth economic policies that allow entrepreneurs and businesses to thrive and will make Texas stronger and more prosperous than ever in the history of our great state.”
“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.”
Big picture view:
NYSE is part of the Intercontinental Exchange. NYSE Chicago was previously the Chicago Stock Exchange, which was acquired by ICE in 2018.
Intercontinental Exchange officials say, “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.”
Potential Competitor
The other side:
The move comes as a potential competitor to NYSE is emerging in Texas. Last month, TXSE Group announced that it had filed for registration of the Texas Stock Exchange with the Securities and Exchange Commission. TXSE says if the approval of its registration is granted, TXSE intends to launch trading in early 2026, with listings by the end of the same year.
Also, TXSE Group Inc announced that it has closed its initial capital raise at $161 million, making TXSE “the most well-capitalized exchange to ever file a Form 1.”
The Texas-based private market stock exchange would offer traders an alternative to the New York Stock Exchange and Nasdaq.
The Source: Information in this article is from Texas Governor Greg Abbott, Intercontinental Exchange, and TXSE Group Inc.
