NYSE Plans to Launch Exchange in Texas
Commentary by Steven Lofchie
The New York Stock Exchange, part of Intercontinental Exchange, Inc., ("NYSE ICE") plans to open NYSE Texas, a fully electronic equities exchange, headquartered in Dallas.
NYSE: ICE stated that "NYSE Chicago will reincorporate in Texas and be renamed NYSE Texas." NYSE ICE said that NYSE Texas "will provide public companies with a listing and trading venue centered within the vibrant economy of the southwestern U.S."
The exchange explained that Texas has a "growing population, strong economy and business-friendly regulatory agenda."
Commentary
This is less a story about securities markets than it is a story about the movement of financial and commercial centers away from New York, Illinois and California to Texas and Florida. (See FINRA 2024 Industry "Snapshot" Shows Shifts from Brokers to Advisers, (the story also mentions the geographic shifts).) Expect this trend to continue.