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.

The New York Stock Exchange is expanding to Y'all Street. The latest: The NYSE announced Wednesday that it plans to move its fully electronic Chicago exchange to Dallas. Why it matters: Dallas has emerged as a financial hub as stock markets and companies have sought to cash in on Texas' wealth.

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,