We will pass the New York Stock Exchange on Wall Street, New York on February 3, 2025.
Angela Weiss | AFP | Getty Images
The New York Stock Exchange will soon be in Texas and will meet the growing number of businesses looking for a business-friendly state home.
NYSE announced Wednesday that one of its e-exchanges, NYSE Chicago, has been rebuilt into Texas and renamed NYSE Texas, offering companies the option to list their shares in Lone Star State.
“As a state with the largest number of NYSE lists with our community’s market value of over $3.7 trillion, Texas is the market leader promoting a professional business vibe.”
The NYSE is part of the InterContinental Exchange. NYSE Chicago was previously the Chicago Stock Exchange, and was acquired by ICE in 2018.
This move comes as potential NYSE competitors are emerging in Texas. Last month, the TXSE Group announced it had applied for registration with the Securities and Exchange Commission on the Texas Stock Exchange. TXSE Group said it has raised $161 million and plans to start trading in early 2026.
Texas Governor Greg Abbott told CNBC last year that environmental, social, governance or ESG rules were motivating the Texas-based exchange. Texas is one of several states that oppose ESG rules from the Wall Street company.
“We need to make sure that policy decisions from the left are made in places like New York and are not blocked from the New York capital market,” Abbott said.
Texas has also emerged as a legal hub for major companies as Delaware’s competitor. Tesla was reconfigured in Texas last year after a legal battle in Delaware court over CEO Elon Musk’s wage package. The Wall Street Journal reported last month that the meta platform was investigating similar moves.
Trades on the NYSE exchanges and most major stock exchanges around the world are almost entirely electronic. Stocks are traded in multiple exchanges, even if they have one designated as the primary list.
