IRVING, Texas — This article was originally published by our content partners at the Dallas Business Journal. You can read the original article here.
Stock exchange operator Nasdaq Inc. plans to grow in Dallas-Fort Worth.
The New York-based company announced Sept. 26 it would place one of its three new regional listings divisions in Irving, west of Dallas. It will operate out of the existing Nasdaq office at 503 Riverside Dr., the Dallas Morning News reported.
Nasdaq said the regional management structure for its Global Listings franchise would "deepen client connectivity, enhance focus, and accelerate growth." There will also be East Coast and West Coast divisions.
Rachel Racz, a Texas native and oil and gas industry veteran, will serve as senior vice president and head of listings for Nasdaq’s Texas, Southern U.S. and Latin America division. She previously worked for Nasdaq for five years, overseeing its listings franchise in Texas, before leaving the company in 2019.
The regional management sstructure is designed to "leverage Nasdaq’s enterprise-wide capabilities" at a more localized level. Nasdaq said it already has more than 480 clients across Texas, the Southern U.S. and Latin America, representing about $1.9 trillion in market capitalization. Much of that is in Texas: more than 200 Nasdaq-listed companies, representing $1.3 trillion in market cap.
Nasdaq currently has 150 employees in Texas, DMN reported, and Racz told the newspaper she wants to build a "more substantial" team.
It isn't a big surprise Nasdaq put one of its three regional listings divisions in DFW. It's had an office in Irving for about a decade. But it could attract more capital and financial brainpower to an area already nicknamed "Y'all Street." A would-be competitor to Nasdaq and the New York Stock Exchange, the planned Texas Stock Exchange, is also coming to Dallas, with plans to start accepting trades in 2025.
