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Investing.com -- Nasdaq, traditionally linked with its primary Times Square location, is planning to inaugurate its first regional headquarters in Dallas, Texas, according to a report from the Wall Street Journal. This move is part of a broader trend of New York-based institutions expanding into Texas, a state that is actively striving to become the new central hub for U.S. business.
The stock exchange operator is anticipated to set up its regional base in Dallas later this year. This location, often referred to as Y’all Street, will serve both Texas and the entire Southeast region. However, the new office will not solely focus on securing listings, which are typically seen as the prestige business of a stock exchange. According to individuals knowledgeable about the plan, the Dallas headquarters will also accommodate parts of Nasdaq’s technology and financial crime management operations. These services aid Nasdaq’s clients in detecting fraudulent activities and money laundering.
Founded in 1971, Nasdaq gained its prominence during the tech boom of the late 1990s and early 2000s. Despite Silicon Valley being a robust source for its listing business, the exchange has never established a headquarters in California. The company does maintain an office and event space in San Francisco.
In Texas, where Nasdaq has had a physical presence since 2013, it currently lists more than 200 companies. The establishment of a regional office in Dallas is expected to further expand the company’s presence in the state.
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