The New York Stock Exchange (NYSE), part of Intercontinental Exchange (ICE), announced plans to launch NYSE Texas, a fully electronic equities exchange, headquartered in Dallas. Pending the effectiveness of regulatory filings, NYSE Chicago will reincorporate in Texas and be renamed NYSE Texas, offering companies the opportunity to list their securities on NYSE Texas.
“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 at NYSE Group, in a statement.
Building on the NYSE’s 230 years of experience as the world’s leading exchange operator, the launch of NYSE Texas will provide public companies with a listing and trading venue centered within the vibrant economy of the southwestern US.
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. The NYSE plans to make regulatory and corporate filings to effect the reincorporation in the near term.
Texas governor Greg Abbott said in a statement: “Texas is the most powerful economy in the nation, and now we will become the financial capital of America. 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.”