New York Stock Exchange to launch branch in Dallas

The New York Stock Exchange announced Wednesday morning it would move its Chicago branch to Dallas and call it NYSE Texas.

"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," said the NYSE in a statement.

"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 of NYSE Group, in a statement. “We are delighted to expand our presence in the Lone Star State, which plays a key role in driving our U.S. economy forward.”

More and more businesses continue to relocate their headquarters to Texas, given the business-friendly environment regarding policies and taxes.

“Texas is the most powerful economy in the nation, and now we will become the financial capital of America,” said Texas Gov. Greg Abbott. “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.”

Adam Gersting, the managing partner and Dallas office lead of West Monroe, said having NYSE Texas will offer companies more opportunities in the stock market.

"It's exciting news and big news because it further accelerates our business growth here in Texas and in Dallas in particular," said Gersting. "I think most exciting is it solidifies Dallas as a major financial hub, not just locally and nationally, but puts Dallas and Texas on the global financial stage and I think the business community will be watching and be benefiting."

An assistant professor of accounting at the University of Texas Dallas, Kirti Sinha, Ph.D., said she was not surprised by the move since NASDAQ Inc. announced it was expanding to North Texas in Irving last year.

She said having the exchanges in North Texas will give companies locally and regionally, like in Oklahoma and Louisiana, more opportunities to list their companies and go public. She said the process is expensive and complex and having an office locally will make a difference.

"It's literally a signal to companies that, 'We are here for you, you don't have to go to somewhere else, we are still here, don't think that we are sitting far away in New York, we cannot cater to your requirements, just come talk to us and we'll help you with everything,'" explained Sinha.

She also believed having multiple exchanges will have a positive effect on the economy.

"I think it's good for job creation and I say that every time a stock exchange comes in, you will see direct jobs are going up by 300, but like indirect jobs are going to go up by 3,000. So it also creates jobs for people which I think we all need right now, so I think it is it's exciting," said Sinha.

The news of the NYSE Texas comes five months after the Texas Stock Exchange announced its plans to launch in Dallas and begin trading in 2026, pending approval from the U.S. Securities and Exchange Commission.

In response to the news of the NYSE, the Texas Stock Exchange wrote in an email to NBC 5:

We have known all along that Texas is the best place to do business. In fact, the entire southeast quadrant of the country has been driving the nation's economic and population growth. The Texas Stock Exchange is harnessing this momentum to build a national securities exchange in our home state. We are committed to closely aligning with issuers and investors to provide a premier venue for listing and a world-class platform for trading. The mission of the Texas Stock Exchange is to bring competition back to the markets, and we look forward to cementing Dallas as one of the financial capitals of the world."