NYSE Texas is officially here — and Wall Street now has a little competition from “Y’all Street.”
The New York Stock Exchange has expanded into Texas with NYSE Texas, giving companies another place to list their shares while keeping them inside the NYSE network.
Monday, October 5, 2026 marks the first day companies are trading with their primary stock listings on the Dallas-based TXSE. Energy Transfer, Sunoco, SunocoCorp, USA Compression Partners and Dillard’s have all moved their primary listings from the New York Stock Exchange to Texas.
And more are coming. Charles Schwab is adding a Texas listing.
And there’s a reason Texas landed it.
Texas has spent years aggressively recruiting businesses. It has no state personal income tax, and the Tax Foundation ranks Texas seventh in the country for overall tax competitiveness. California ranks 48th.
Then there’s the cost of living.
Federal data show California has the highest overall price level in the country — about 11 percent above the national average. California also has the highest housing-rent costs of any state, more than 50 percent above the national benchmark.
California’s top individual income-tax rate reaches 13.3 percent, while Texas has no individual state income tax. California also imposes an 8.84 percent corporate income-tax rate.
If you’re choosing where to plant a new financial exchange, Texas offers lower taxes, lower costs and a political environment that openly markets itself as business-friendly.
California still has Silicon Valley, enormous capital markets and the world’s fourth-largest economy. But when Wall Street decided it wanted a second street? It chose Y’all Street. Not the Golden State.
