The New York Stock Exchange will reincorporate its Chicago branch in Texas, it announced on Wednesday, rebranding it as NYSE Texas and moving to Dallas. With the upstart Texas Stock Exchange taking shape and the Nasdaq expanding its reach in the Lone Star State,

The New York Stock Exchange is launching a fully electronic exchange in the Lone Star State. NYSE announced plans for NYSE Texas, which will be headquartered in Dallas, on Wednesday morning. NYSE is reincorporating its Chicago branch. The exact timing of the launch is pending regulatory filings.

In a move that serves to counter the planned launch of the Texas Stock Exchange, the NYSE said it will reincorporate NYSE Chicago in Texas and rename it NYSE Texas, with headquarters in Dallas. The news set both Wall Street and Y'all Street buzzing,