From CNBC: 2025-03-18 10:38:59

Texas is positioning itself as a financial powerhouse, with Gov. Greg Abbott claiming a “stronger brand than New York.” The state is set to launch its own stock exchange in 2026, attracting key hires and major financial players like the NYSE and Nasdaq to relocate operations to Texas.

Nasdaq plans to open a regional headquarters in Dallas, deepening its commitment to the Texas economy. The move comes as Texas aims to rival Delaware as a legal home to major companies, offering a more business-friendly environment and tougher restrictions on shareholder lawsuits.

Trading at major stock exchanges like NYSE and Nasdaq is primarily electronic, with stocks able to trade on multiple exchanges. Tesla recently shifted its state of incorporation to Texas, citing a more favorable legal environment after a legal battle over CEO Elon Musk’s compensation. Governor Abbott aims to codify stricter rules for derivative actions against companies in Texas.

Read more: Texas has ‘stronger brand than New York,’ Gov. Greg Abbott says