DALLAS (AURN News) — The New York Stock Exchange announced plans to establish a new presence in Dallas and relocate its Chicago operations to Texas, pending regulatory approval.

The expansion, dubbed NYSE Texas, will see the exchange strengthen its foothold in the southern United States. NYSE Chicago will reincorporate in Texas once regulatory filings are completed, according to exchange officials.

"We are delighted to expand our presence in the Lone Star State, which plays a key role in driving our U.S. economy forward," Lynn Martin, President of NYSE Group, said in a statement.

The exchange cited Texas's growing population, robust economy, and business-friendly environment as key factors that have drawn companies to the state.

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