Nasdaq is setting up a regional headquarters in Dallas, saying the planned location was part of its “continued investment” in the Lone Star State and the Southeast.
The office will provide a “hub for Nasdaq clients and the wider community and will serve as a premium convening space to celebrate the leaders, entrepreneurs, and innovators that call the Lone Star State home,” Nasdaq said. The stock exchange operator is known for its main location in New York City’s Times Square.
Texas has become a major destination for companies to set up shop in recent years. A report released last year by the Federal Reserve Bank of Dallas found a net of more than 7,300 firms relocated to the state between 2010 and 2019.
KFC MOVING US HEADQUARTERS FROM KENTUCKY TO TEXAS, CITING BETTER PROSPECTS FOR GROWTH
Some 200 companies that trade on Nasdaq’s exchange call Texas home. The stock exchange operator counts about 800 Texas-based firms among its clients.
“With our regional headquarters in Dallas, we look forward to further deepening our relationships with clients and supporting the continued success of the Texas Miracle,” Nasdaq CEO Adena Friedman said in a statement.
“Under the leadership of Governor Abbott, the Texas Miracle has made Texas synonymous with innovation-led growth and smart regulation,” Nasdaq Executive Vice Chairman Ed Knight said. “We share his commitment to these principles and will continue to advocate passionately on our clients’ behalf. As a result, we will take any action needed to ensure our clients enjoy the same benefits as all other companies in the state.”
The company also said Tuesday it will unveil “additional investments” that it intends to make in Texas “designed to enhance the liquidity, transparency, and integrity of the financial ecosystem.”
Dallas is also set to host the New York Stock Exchange’s “fully electronic equities exchange,” NYSE Texas, after the NYSE reincorporates its NYSE Chicago. The TXSE Group is working to set up its Texas Stock Exchange in the state, as well.
NYSE COMING TO TEXAS AS LONE STAR STATE CONTINUES TO ATTRACT BUSINESSES
During Texas Gov. Greg Abbott’s State of the State address in early February, he touted Texas as having the “most powerful economy in America.”
Texas’ economy is worth $2.6 trillion, according to the governor’s office.
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