Keaton PetersTexas’ status is growing as a center for business and finance. The New York Stock Exchange is establishing a new foothold in the Lone Star state, announcing plans to launch NYSE Texas, a fully electronic equities exchange to be headquartered in Dallas. The move, which involves reincorporating NYSE Chicago in Texas, comes as the state has become home to the largest number of NYSE-listed companies in the nation.
The expansion represents a transformation of NYSE’s existing Chicago operation and will require regulatory approval before proceeding. The exchange will offer companies the opportunity to list their securities on a Texas-based platform, adding to the state’s growing financial services sector.
The new exchange aims to capitalize on Texas’ growing role as a business hub, offering listing and trading services to both Texas-incorporated companies and global firms attracted to the state’s business environment. While NYSE Texas will operate as a fully electronic platform, unlike the iconic trading floor in New York, it represents a significant expansion of the NYSE’s geographical footprint.
Texas’ pro-business climate and robust economy, which has attracted numerous corporate relocations in recent years, played a key role in NYSE’s decision. The opening of a new financial market also brings the potential for new economic opportunities in the state.
Governor Greg Abbott heralded the move as a milestone in Texas’ economic development. “Texas is the most powerful economy in the nation, and now we will become the financial capital of America,” Abbott said.
NYSE Group President Lynn Martin highlighted Texas’ economic importance, noting that NYSE-listed companies in the state represent over $3.7 trillion in market value. “We are delighted to expand our presence in the Lone Star State, which plays a key role in driving our U.S. economy forward,” Martin said.
The NYSE’s new Texas operation may have competition. According to CNBC, another potential financial market, TXSE Group has filed for registration of the Texas Stock Exchange with the SEC, having raised $161 million with plans to launch trading in early 2026.
In recent years, Texas has emerged as a competitor to Delaware as the legal home for major corporations. Tesla reincorporated in Texas last year following a Delaware court dispute over an executive pay package, and Meta Platforms is reportedly exploring a similar move.
While Delaware has historically been the preferred state for corporate legal matters due to its specialized business courts, Texas is positioning itself as an alternative by focusing on judicial expertise and efficient resolution of corporate disputes. Texas’s new business courts opened in 2024 and will maintain the option for jury trials in certain cases, offering companies more flexibility in how their cases are heard, according to a webinar hosted by legal experts at CSC Global.
Taxes are another key advantage for Texas. Delaware imposes a corporate income tax rate of 8.7%, while Texas takes a different approach with its “margin tax” system. CSC Global said the Texas tax structure typically results in rates of 0.75% or less, depending on the business type and revenue. For LLCs specifically, Texas offers flexibility, and the state’s margin tax includes various exemptions and deductions that can further reduce tax burden.
The timeline for the launch has not yet been disclosed. Once operational, NYSE Texas will add to the state’s growing roster of financial services operations, further cementing its position as an emerging financial center.
Photo courtesy Scott Beale, CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0, via Wikimedia Commons
