Texas Gov. Greg Abbott told CNBC last year that rules around environmental, social and governance, or ESG, was a motivation to have a Texas-based exchange. Texas is one of several states that have pushed back against ESG rules from Wall Street firms.

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.