The New York Stock Exchange (NYSE) is expanding into Texas to support the increasing number of businesses seeking a base in this pro-business state.

On Wednesday, the NYSE revealed that its subsidiary, NYSE Chicago, will relocate its incorporation to Texas, adopting the new name NYSE Texas. This move provides companies with the option to list their shares in the Lone Star State.

“Texas, as the state with the highest number of NYSE listings, represents over $3.7 trillion in market capitalization. It stands out as a pioneer in promoting a business-friendly environment,” stated Lynn Martin, the president of NYSE Group, in a press announcement.

NYSE is a part of Intercontinental Exchange. NYSE Chicago was formerly known as the Chicago Stock Exchange until it was acquired by ICE in 2018.

This strategic shift comes as a rival exchange is taking shape in Texas. Last month, TXSE Group announced its filing for registration with the Securities and Exchange Commission to operate the Texas Stock Exchange. TXSE Group has reported raising $161 million and plans to commence trading in early 2026.

Texas Governor Greg Abbott stated to CNBC last year that the shift away from certain environmental, social, and governance (ESG) regulations was a key factor motivating the establishment of a Texas-based exchange. The state is among several that have pushed back against ESG guidelines imposed by Wall Street.

“It’s crucial that Texas firms, among others, are not isolated from capital markets in New York due to left-leaning policy decisions made elsewhere,” Abbott emphasized.

Additionally, Texas is becoming a competitive alternative to Delaware as the preferred legal jurisdiction for major corporations. Last year, Tesla relocated its incorporation to Texas following a legal dispute concerning a compensation package for CEO Elon Musk in Delaware courts. Last month, The Wall Street Journal reported that Meta Platforms is exploring a similar transition.

Most trading at the NYSE and other significant exchanges globally occurs primarily through electronic platforms. Stocks may be traded on various exchanges even if they are primarily listed on one.