Posted on 02/13/2025 10:26:47 AM PST by vikingd00d
NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced plans to launch NYSE Texas, a fully electronic equities exchange, headquartered in Dallas, 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.
“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, NYSE Group. “We are delighted to expand our presence in the Lone Star State, which plays a key role in driving our U.S. economy forward.”
Building on the NYSE’s 230 years of experience as the world’s leading exchange operator, the launch of NYSE Texas will provide public companies with a listing and trading venue centered within the vibrant economy of the southwestern U.S. With this launch, NYSE Texas will deliver a listing exchange to companies incorporated both in Texas and around the world that are attracted to Texas’ growing population, strong economy and business-friendly regulatory agenda. The NYSE plans to make regulatory and corporate filings to effect the reincorporation in the near term.
(Excerpt) Read more at businesswire.com ...
Well NYC at least what they did to Trump continues to reverberate.
From Wall Street to Y’all Street
“quietly abandoning the Leftist areas”
Thank God
>>Well NYC at least
Not just NYC. They are re-incorporating NYSE Chicago.
https://www.newsmax.com/us/ny-stock-exchange-tax-transfer/2021/02/09/id/1009364/
NYSE President Stacey Cunningham said she and 25 other representatives of New York's securities industry sent a letter to state legislative leaders warning against the unintended consequences of imposing such a tax... "If Albany lawmakers get their way, however, the center of the global financial industry may need to find a new home."
A financial tax was proposed... in New Jersey, where many exchanges host their servers... exchanges quickly mobilized to temporarily move their employees and activity outside of the state.
“Looks like the financial infrastructure is quietly abandoning the Leftist areas.”
Yep, looks like the first step in leaving NYC. Hooray.
Long overdue.
If it is ‘fully electronic’ why does it need a physical location (e.g. Dallas)?
California businesses have fled to Texas and New York businesses have fled to Florida but this is a crossover. I would expect to see companies from the San Francisco Exchange to follow to Texas.
Lol love that
Fidelity established a backup facility in the Dallas area decades ago; seems every parasitic leftard who actually works is going to be infesting the state after completely effing up there previous host state... just great.
Good one!
The ICE Exchange in Texas. Well done.
>>The ICE Exchange in Texas. Well done.
I do wonder how much the TXSE proposal affected ICE’s decision.
With the price of eggs it’s a good idea not to have them in one basket.
>>If it is ‘fully electronic’ why does it need a physical location (e.g. Dallas)?
1. Servers have to exist somewhere.
2. Order entry may be electronic, but all the backend parts of an exchange are physical.
Ahh. Didn’t hear that before. Can’t say I blame them for moving. The left sees business as keg to be tapped when they want to get drunk on power and go on a spending spree.
Yeah and in 20 years Texas will be past saving as well thanks to all the libs moving here. Everywhere the left goes they suck dry. We don’t want them here.
Many times those servers are rented in facilities far away from the state where the business is registered (hosted on AWS, Azure, etc severs). I get there are some employees in an office but that too can be geographically independent.
What physical back end parts are there? I’m not familiar with how such exchanges are set up other than the physical ones where there is a trading floor, a bell to ring, etc.
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