03/18/2025
Nasdaq CEO on opening new Dallas headquarters: ‘It’s time'
The tech-heavy market is tapping into the “Texas Miracle” with a lot of other major players.
The Nasdaq on Tuesday unveiled a new regional headquarters that would be located in Dallas, becoming the latest elite financial institution tapping into a “Texas Miracle” of pro-business sentiment and strong regional growth.
In a statement, the world’s second-largest exchange (based on a market capitalization) said the Dallas hub will serve Nasdaq’s clients and the community at large, while being a “premium convening space to celebrate the leaders, entrepreneurs, and innovators that call the Lone Star State home.”
“We have a lot of revenue here in Texas,” Adena Friedman, Chair and CEO of Nasdaq, told The Dallas Morning News in an interview, conducted on the sidelines of a luncheon honoring Dallas entrepreneur Ross Perot Jr.
Friedman cited the hundreds of companies that trade on the market ― many of which are either based or have a strong presence in the Lone Star State, such as Texas Instruments.
However, the booming regional economy, combined with Nasdaq’s own evolving business model, made the timing right to for the Nasdaq to deepen its roots in Texas, Friedman added.“We’ve reflected on the fact we have 800 clients here, ... on the fact we have 200 companies listed here,” Friedman said.
“We have a presence in California. Obviously have a presence in New York....but it’s time for us to kind of put a real presence here that we can grown and expand over time.”
The news comes as the New York Stock Exchange announced a similar move in February, while the upstart Texas Stock Exchange gets closer to launching.
“It should be no surprise that there’s so much interest in bringing the capital markets to Texas. The leadership of Gov. Abbott and our state legislature to drive population and economic growth have created a pro-business environment that is the economic envy of the world,” the Texas Stock Exchange said in a statement.
Friedman also spoke highly of Abbott, calling him a “force of nature,” and “the best salesperson for the state.”
Nasdaq announced in September that D-FW would serve as a new division headquarters for the region by bolstering the stock exchange’s office in Irving.
With the Dallas office, Friedman said, Nasdaq is bringing together all its employees across the region to unite its ventures, including listings, technology, anti-financial crime and more.
The Big Board made a similar move in February, when it announced it would relocate the former Chicago branch to Dallas to capture the region’s economic growth.
The developments underscore the growing clout of the Lone Star State — and North Texas in particular — as an economic and financial powerhouse attracting major players in technology and finance.
“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,” Friedman said in a statement.
“Beyond our listings franchise, we are proud to support a wide network of clients who trust us to help solve their most complex challenges. 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.”
The world's 2nd largest bourse is tapping into the "Texas Miracle" of growth and pro-business sentiment.
