New York Stock Exchange announces NYSE Texas coming to Dallas
“Craman Countdown” panelists Bankim Chadha and Scott Redler analyze market metrics.
New York Stock Exchange (NYSE) Texas, “Full Electronic Stock Exchange” is coming to Dallas.
The announcement came on Wednesday, with NYSE Chicago saying it will be “re-incorporated into Texas and renamed NYSE Texas,” offering businesses a new venue to list securities.
Some well-known companies including Elon Musk Tesla and SpaceX moved their headquarters to Texas, captivated by the state’s favourable legal and regulatory environment.
“As a state with the largest number of NYSE lists representing the market value of over $3.7 trillion in our community, Texas is the market leader Lynne Martin, president of NYSE Group, said in a statement.
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The trader works on the New York Stock Exchange (NYSE) floor at Opening Bell in New York City on February 12, 2025. (Angelawice/AFP/Getty Images)
“We are pleased to expand our presence in Lone Star State, which plays a key role in driving the US economy forward,” Martin continued.
Texas Gov. Greg Abbott met with NYSE leaders on Monday to discuss the launch. Local Fox 4 reported.
“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 at the global stage.” Abbott said, According to Fox 4.
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Texas Governor Greg Abbott, who previously appeared on Fox Business, responded to the move to bring NYSE Texas to Dallas. (Fox Business / Fox News)
The Texas Stock Exchange (TXSE), a new venture backed by financial giants such as BlackRock, Citadel Securities and Charles Schwab, targets the 2026 launch after filing administrative duties to run as a citizen later last month. Because we have a potential competitor already in the works. Reuters reported.
There will also be a complete e-sal stock exchange headquartered in Dallas.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| TSLA | Tesla Inc. | 336.51 | +8.01 |
+2.44% |
Tesla Giga Factory in Austin, Texas, USA, on Thursday, June 23, 2022. NYSE Group President Lyn Martin said Texas is the state with the largest number on the NYSE list. (Jordan Fon De Harle/Bloomberg/Getty Images)
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“We’ve always known Texas is the perfect place to do business,” a TXSE spokesperson said in a statement obtained by Reuters following the news. “The Texas Stock Exchange is using this momentum to build a national stock exchange in our hometown.”
Reuters contributed to this report.