Wall Street is moving in on Y’all Street.
The New York Stock Exchange is staking its claim in Texas. Today, it announced plans to reincorporate NYSE Chicago as NYSE Texas, establishing its headquarters in Dallas. The move places it in direct proximity to the Texas Stock Exchange—an upstart that has been drawing national attention since unveiling its plans last year.
Dallas steps up as a financial power player
“Y’all Street” became shorthand for the area’s growing financial clout in June 2024 when Dallas-based TXSE Group announced plans for the Texas Stock Exchange. After assembling a leadership team packed with industry heavyweights, TXSE secured $161 million from BlackRock, Citadel Securities, and other major investors—fueling its push to create a more CEO-friendly exchange. TXSE promises to streamline the IPO process, aiming to make it easier and cheaper for companies to go public.
With its funding round closed in late January, TXSE filed its registration with the U.S. Securities and Exchange Commission, a major step toward its goal to begin trading in early 2026.
If you thought Wall Street wouldn’t take this lying down, you were right.
The NYSE stakes its ground
With today’s announcement, the NYSE, part of Intercontinental Exchange, Inc. (NYSE: ICE), is making a strategic move—expanding into Texas without starting from scratch. Instead, it’s bringing an existing exchange under its Lone Star umbrella, reincorporating NYSE Chicago as NYSE Texas.
Pending regulatory approval, NYSE Texas will offer companies a new listing platform, further anchoring the state’s financial landscape.
“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,” Lynn Martin, president of NYSE Group, said in a statement. “We’re delighted to expand our presence in the Lone Star State, which plays a key role in driving our U.S. economy forward.”
While the Texas Stock Exchange is still getting started, NYSE emphasized that it brings “230 years of experience as the world’s leading exchange operator” to Texas, providing companies with a listing and trading venue embedded in the “vibrant economy of the southwestern U.S.”
NYSE Texas will serve both Texas-incorporated and global companies drawn to the state’s growing population, strong economy, and business-friendly policies, NYSE Group added, with regulatory filings planned “in the near term.”
Nasdaq is saying Y’all too
Not to be left out, the New York-based Nasdaq Stock Market is also deepening its Texas presence. In September, Nasdaq announced a new regional management division based in the Dallas suburb of Irving, as the Dallas Morning News reported.
Nasdaq named Irving-based Rachel Racz as SVP and head of listings for its Texas, Southern U.S., and Latin America division.
“It will be my team’s home base,” Racz told the DMN in September. “Texas is—I’ve said this over and over—a powerhouse for innovation and business. … This is where we are going to be connecting with the community more deeply. We think that this is a great hub for business in Texas. So, it’s the right spot for us to be at.”
Governor Abbott welcomes the news
On Monday, Texas Governor Greg Abbott met with NYSE: ICE Founder, Chairman, and CEO Jeffrey Sprecher and NYSE Group President Lynn Martin to discuss the launch of NYSE Texas “and the new economic opportunities NYSE: ICE will provide to Texas and global businesses,” the governor’s office said.
“Texas is the most powerful economy in the nation, and now we will become the financial capital of America,” Abbott said in a statement. “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. I thank the New York Stock Exchange for choosing Texas. Working together, we will continue to advance pro-growth economic policies that allow entrepreneurs and businesses to thrive and will make Texas stronger and more prosperous than ever in the history of our great state.”
Abbott’s enthusiasm for NYSE Texas mirrors his response to the planned Texas Stock Exchange launch.
In October, Abbott told Bloomberg News the Texas Stock Exchange is “going to completely transform Dallas.”
“Dallas, Texas, is already a massive financial center,” Abbott told Bloomberg, “but when you put a stock exchange in there, that will make it really the financial heartbeat of the entire country.”
Quincy Preston contributed to this report.
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R E A D N E X T
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In June, TXSE Group announced plans to launch the Texas Stock Exchange (TXSE), focused on enabling U.S. and global companies to access U.S. equity capital markets via a “fully electronic, national securities exchange." In the months since, that's led to endless discussion of the impact of North Texas' "Y'All Street." It was capped by yesterday's announcement that the TXSE had raised over $135 million to date as it named members of TXSE's board—including former Texas Governor and former U.S. Energy Secretary Rick Perry; former SEC Commissioner Rick Roberts; and Alex Bussandri, the global head of strategy at Citadel Securities.
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As we noted in our top story today, Lee's TXSE Group plans to launch the Texas Stock Exchange (TXSE), focused on Texas and the Southeast U.S. The group says it will provide "a venue to trade and list public companies and the growing universe of exchange-traded products" as a "fully electronic, national securities exchange." That's caused buzz across the Lone Star State—and especially on Wall Street.
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