DALLAS — NYSE Texas is officially open for business as of Monday, becoming the first securities exchange to operate in Texas. Its first listing was President Donald Trump’s Trump Media and Technology Group, the parent company of his social media platform Truth Social.
The New York Stock Exchange announced its plans to reincorporate its Chicago branch in Dallas as NYSE Texas in February.
“We are thrilled to open NYSE Texas to corporate issuers and to welcome Trump Media & Technology Group to our NYSE community through a NYSE Texas listing,” said NYSE Group President Lynn Martin. “This new offering, which we announced just last month, will allow companies to capitalize on the pro-business dynamics in Texas. We applaud Trump Media, Governor Abbott and the state of Texas on their commitment to supporting the innovation of U.S. capital markets.”
The New York Stock Exchange says Texas is home to the largest number of companies listed on the NYSE, representing more than $3.7 trillion in aggregate market value, according to a press release.
Trump Media says it will list its warrants on the NYSE Texas exchange, though its primary listing will continue to be on the NASDAQ.
“We’re honored to become the initial listing for NYSE Texas, which is a great fit for TMTG as we diversify into financial services and other realms. Texas provides a fantastic climate for business and entrepreneurship that aligns with TMTG’s mission,” Trump Media and Technology Group CEO Devin Nunes said. “This listing, alongside our plans to reincorporate in Florida, shows we’re part of a growing movement to take our business to states that value free enterprise and personal freedom.”
NYSE Texas is set to have competition, though, as financial giants move into North Texas.
The upstart Texas Stock Exchange announced its plans to bring a long-hoped-for national stock exchange headquartered in Dallas last summer and plans to launch this spring.
It’s gotten more than $161 million in initial backing and its board includes former Texas Gov. Rick Perry, who was also U.S. Energy Secretary, and leaders from Blackrock and Citadel Securities.
Nasdaq, one of the two largest stock exchanges in the world behind the New York Stock Exchange, also announced earlier this month that it plans to open a new regional headquarters in Dallas.
Nasdaq had previously announced plans to put one of its three new regional listings divisions in Irving.