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President Donald Trump said on Jan. 19 that building a New York Stock Exchange (NYSE) in Dallas would be detrimental to New York and pose a big test for newly elected New York City Mayor Zohran Mamdani.
Intercontinental Exchange, which owns the NYSE, announced in February 2025 that it would launch NYSE Texas, a fully electronic equities exchange based in Dallas, pending regulatory filings. As part of the move, NYSE Chicago was reincorporated in Texas and renamed as NYSE Texas, allowing companies to list their securities on NYSE Texas.
NYSE Texas began operations in March 2025, and Trump Media & Technology Group was the first company to list on the Dallas-based exchange and hold a dual listing, according to a company statement.
“Building a ‘New York Stock Exchange’ in Dallas is an unbelievably bad thing for New York,” Trump said in a Truth Social post. “I can’t believe they would let this happen.”
The president did not elaborate on why he thinks the NYSE expansion in Dallas would pose challenges for the new mayor.
Mamdani, who was sworn in as New York City mayor earlier this month, has not publicly commented on Trump’s post.
The Epoch Times reached out to the mayor’s office and Intercontinental Exchange for comment but did not receive a response by publication time.
NYSE Group President Lynn Martin said in February 2025 that Texas hosts the most NYSE-listed companies, representing more than $3.7 trillion of market value. The exchange views Texas as “a market leader in fostering a pro-business atmosphere,” Martin said.
“We are delighted to expand our presence in the Lone Star State, which plays a key role in driving our U.S. economy forward,” Martin said in a statement at the time.
Texas Gov. Greg Abbott backed the exchange’s move to launch NYSE Texas, saying at the time that the state remains committed to implementing “pro-growth economic policies” that foster a thriving environment for entrepreneurs and businesses.
“Texas is the most powerful economy in the nation, and now we will become the financial capital of America,” Abbott said in a Feb. 12 statement. “With the launch of NYSE Texas, we will expand our financial might in the United States and cement our great state as an economic powerhouse on the global stage.”
The establishment of NYSE Texas coincided with the rise of another major exchange in the state.
TXSE Group said in January 2025 that it had filed with the Securities and Exchange Commission to register the Texas Stock Exchange (TXSE) as a national securities exchange. The company has raised $161 million in an initial funding round and plans to begin trading early this year. (theepochtimes.com)
