By Reuters
March 18, 2025 – 7:49 AM PDT
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(Reuters) – Exchange operator Nasdaq (NDAQ.O) said on Tuesday it would open a regional headquarters in Texas, deepening its presence in a state that is fast emerging as a major financial hub rivaling New York.
Elon Musk-led Tesla (TSLA.O) and SpaceX, as well as tech giants Oracle (ORCL.N) and Hewlett Packard Enterprise (HPE.N), have all moved to the Lone Star State, attracted by a favorable tax climate, lower costs of living and reduced energy costs.
For Nasdaq, the move could also help it better compete with the New York Stock Exchange — which last month committed to launching an exchange in the state — and the Texas Stock Exchange, a venture backed by BlackRock (BLK.N) and Citadel Securities, which is gearing up for a launch early next year.
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