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2025-02-12 22:57
The New York Stock Exchange, part of Intercontinental Exchange (NYSE:ICE), plans to start NYSE Texas, a fully electronic equities exchange headquartered in Dallas, the company said on Wednesday. Once its regulatory filings are declared effective, NYSE Chicago will reincorporate in Texas and be renamed NYSE Texas.
"As the state with the largest number of NYSE listings, representing over $3.7T in market value for our community, Texas is a market leader in fostering a pro-business atmosphere," said Lynn Martin, president of NYSE Group.
The NYSE plans to make regulatory and corporate filings to effect the reincorporation in the near term, it added.
The plans for NYSE Texas came after TXSE Group last year unveiled plans for the Texas Stock Exchange, a fully electronic, national securities exchange. That exchange is targeting first trades in 2025 and its first listing in 2026.
Intercontinental Exchange (NYSE:ICE) stock fell 1.2% in early trading.