Nasdaq to open regional headquarters in Dallas
Gov. Abbott speaks at Nasdaq luncheon | FULL
Texas Gov. Greg Abbott delivers remarks about the Texas economy while speaking at a Nasdaq luncheon honoring Ross Perot Jr.
DALLAS - Nasdaq is bringing a regional headquarters to Dallas as it looks to invest in Texas and the southeastern part of the United States.
Nasdaq regional headquarters coming to Dallas
The Nasdaq MarketSite in New York, US, on Tuesday, March 26, 2024. The stock market bounced back, with traders adjusting their positions in the final few days of a banner quarter. Photographer: Yuki Iwamura/Bloomberg via Getty Images
What we know:
The new Dallas office will be a "hub for Nasdaq clients and the wider community," according to a news release.
More than 200 companies listed on the Nasdaq are headquartered in the Lone Star State and represent $1.98 trillion in market capitalization as of December 2024.
What we don't know:
Details about the location of the regional headquarters or the timetable for when it is expected to open were not released.
What they're saying:
"Texas has become the home of capital in the Unites States, and now it is just a natural evolution for Texas to become a home of capital markets in the United States," said Gov. Abbott at a Nasdaq luncheon on Tuesday.
"Nasdaq is deeply ingrained in the fabric of the Texas economy, and we look forward to maintaining our leadership as the partner of choice for the state’s most innovative companies," said Adena Friedman, Chair and CEO of Nasdaq. "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."
Welcome to Y'all Street
Local perspective:
The Nasdaq expansion is just the latest way Dallas is finding itself involved in the world of finance.
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.
Earlier this year, the TXSE Group announced that it filed to register the Texas Stock Exchange with the Securities and Exchange Commission. TXSE intends to launch trading in early 2026.
The Source: Information in this article comes from Nasdaq, comments by Texas Governor Greg Abbott on March 18, the Intercontinental Exchange, and TXSE Group Inc.