New York Stock Exchange launches an exchange in Texas

On By Littum

A person passes by New York Stock Exchange on Wall Street in New York on February 3rd 2025.

Angela Weiss | AFP | Getty Images

New York Stock Exchange will soon have a Texas presence to meet the growing number of companies looking for a home base in the business -friendly state.

NYSE announced on Wednesday that one of its electronic exchanges, Nysse Chicago, will reincorporate in Texas and be renamed NYSE TEXAS, giving companies an opportunity to list their shares in Lone Star State.

“As the state with the largest number of sneezing lists representing over $ 3.7 trillion in the market value of our society, Texas is the market leader to promote a pro-business atmosphere,” Lynn Martin, Nyse Group president, said in a release.

Sneezing is part of Intercontinental Exchange. NYSE CHICAGO was formerly Chicago Stock Exchange, which was acquired by ICE in 2018.

The move comes as a potential competitor to sneezes appearing in Texas. Last month, TxSE Group announced that it had requested registration of Texas Stock Exchange With Securities and Exchange Commission. TxSE Group said it has raised $ 161 million and intends to launch trade by early 2026.

Texas government manager Greg Abbott told CNBC last year that rules on environmental, social and governance or ESG were a motivation to have a Texas-based exchange. Texas is one of several states that have pushed back against ESG rules from Wall Street companies.

“We need to make sure that Texas companies and companies that are also located will not be cut off from the capital markets in New York with political decisions made from the left in places like New York,” Abbott said.

Texas has also emerged as a competitor to Delaware as the legal home for larger companies. Tesla Reincorporated in Texas last year after a legal match in Delaware Court for a payroll package for CEO Elon Musk. The Wall Street Journal reported last month that Meta platforms explored a similar feature.

Trade at the sneezing exchange and most major exchanges around the world are performed almost exclusively electronically. Shares are trading on multiple exchanges, although they have designated as their primary list.