The move deepens the company’s commitment to Texas, which has lured many major firms with its pro-business policies and lower taxes. The Lone Star State is also home to the largest number of companies listed on the NYSE.
Besides, expanding its presence there is key to countering the Texas Stock Exchange, a 2026 challenger backed by prominent Wall Street names that is seeking to disrupt the dominance of Nasdaq and the New York Stock Exchange.
NYSE Texas, which officially opened for business in March, saw 10 companies, including oilfield service company Halliburton and Truth Social-parent Trump Media & Technology Group , dual list on the Dallas-based exchange in the first three months, according to ICE.
“NYSE Texas is clearly gaining momentum to support Texas by scaling up the listing venue. It now has a leading position among key competitors,” Oppenheimer analyst Owen Lau said.
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NYSE President Lynn Martin said earlier this month NYSE Texas had another double-digit dual listing lined up, adding that the conversations with companies were “incredibly positive”. Still, it remains to be seen if companies would be willing to move their primary listing there. “There is a desire to dual list in Texas and New York, but I think it is still challenging to ask companies to solely list in Texas given that it is unclear how much incremental value the companies are getting by doing so,” Lau said.
ICE will maintain its primary listing on the NYSE and its dual listing on NYSE Texas will be effective June 17. (Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Shilpi Majumdar)
