NYSE Plans Texas Exchange as Financial Firms Flock to State (1)

The New York Stock Exchange plans to start an equities exchange in Texas, the latest firm seeking a slice of the financial services industry in a state where the taxes are lower and regulation looser.

NYSE said it will reincorporate its NYSE Chicago operations in Texas and will launch the fully electronic exchange in Dallas, pending regulatory filings. The exchange will serve companies from Texas and around the world, it said.

NYSE’s move underscores the heightened allure of Texas for corporations and financial firms seeking to benefit from a more relaxed regulatory environment than blue states like New York and ...