Nasdaq Inc. is in talks with Texas Gov. Greg Abbott about potentially relocating the exchange’s electronic trading systems from New Jersey to Dallas-Fort Worth, according to two sources familiar with the discussions.
Other trading exchanges also could be involved in the discussions, both sources said.
Nasdaq is planning a visit to Texas to meet with the governor, according to one of the sources. Leaders of the exchange have had “a great dialogue” with Abbott, the source said.
The exchange, which lists about 176 Texas companies and has 87 employees in the state, is intrigued by an opportunity touted by Abbott to power its electronic infrastructure with renewable energy from wind farms in the state, according to one of the sources. Nasdaq is the trading platform for many of the nation’s environmentally conscious companies.
When Facebook invested $1 billion in building its massive data center at AllianceTexas north of Fort Worth, it struck a deal to buy its electricity from a 17,000-acre wind farm under construction at the time. Facebook, which trades on Nasdaq, is now planning to add to its 150-acre campus, which opened in 2017.
Dallas-Fort Worth isn’t alone in wooing the stock exchanges. Officials in Virginia, North Carolina and Illinois have also had discussions with Nasdaq, one of the sources said.
In a statement to The Dallas Morning News, Nasdaq vice president of communications Joe Christinat said: “We are assessing all options, but our No. 1 priority is protecting the U.S. capital markets and its investors.”
A spokesman for the New York Stock Exchange’s parent company, the Intercontinental Exchange, couldn’t be immediately reached for comment.
A potential tax on financial transactions in New Jersey, where Nasdaq and other exchanges house the data systems that power Wall Street’s daily trades, is what’s driving the talks.
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