The New York Stock Exchange is coming to Texas. According to a release, the financial institution plans to launch NYSE Texas, an electronic equities exchange to be headquartered in Dallas, where it will provide companies with a listing and trading venue that is centered on the economy of the Southwest.

As part of the plan, they'll close down NYSE Chicago to be renamed NYSE Texas.

"What remains of the Chicago Stock Exchange will be history," says the Chicago Sun Times. "The New York Stock Exchange owns what’s left of the equities marketplace and has announced it will move it to Dallas and reincorporate it as the NYSE Texas."

The New York Stock Exchange is an American stock exchange in New York's financial district, under parent company the Intercontinental Exchange. It exists to help people invest and businesses to raise capital. Investing money into stocks and bonds is one way that not-rich people can build a nest egg.

The expansion to Texas is just a reflection of the fact that Texas' economy is growing, says NYSE Group president Lynn Martin.

“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,” Martin says. “We are delighted to expand our presence in the Lone Star State, which plays a key role in driving our U.S. economy forward.”'

The move comes five months after the Texas Stock Exchange — AKA NASDAQ — announced it would launch in Dallas and begin trading in 2026, pending approval from the U.S. Securities and Exchange Commission. The Texas Stock Exchange is backed by financial giants such as BlackRock, Citadel Securities, and Charles Schwab.

Having these exchanges in Texas will give companies more opportunities to list their companies and go public, and will give Texas a higher profile as "the financial capital of America," says Texas Governor Greg Abbott in a statement.

Both new exchanges — NYSE and Texas Stock Exchange — will operate electronically, with stocks trading across multiple venues regardless of where they are first listed.