In the wake of the announced Texas Stock Exchange, both NASDAQ and NYSE plan to move into the state. NYSE plans to move their operations in Chicago to Dallas. Texas Gov. Greg Abbot says, "Texas is the most powerful economy in the nation, and now we will become the financial capital of America." His quote is backed by the fact that the state of Texas represents more than $3.7 trillion in market value (Martin).
The state is a great candidate as it holds the largest number of NYSE listings. Dallas, in particular hold the headquarters of plenty of major companies, increasing the market value of the area. The move to Dallas would increase confidence to local businesses all over Texas. The move would be a huge loss for Chicago, as the city points out how NYSE chose not to move to Miami despite the announcement of the Miami Stock Exchange.
