What happened: Nasdaq has announced it will open its first regional headquarters in Dallas—the latest push by a New York institution into Texas. 

Remind me: Nasdaq was founded in 1971 and established stature during the tech boom of the late 1990s and early 2000s. Though Silicon Valley is a thriving pipeline for its listing business, the exchange never opened a headquarters in California. Nasdaq has more than 200 listed companies based in Texas, where it has had a physical presence since 2013. The regional office will expand the company’s footprint in the Lone Star State.

Tell me more: Making a big investment in Texas is becoming a trend among financial institutions. In February, the New York Stock Exchange (NYSE) revealed its plans to add operations in Dallas by reincorporating its NYSE Chicago as NYSE Texas—a fully electronic equities exchange. Additionally, the Texas Stock Exchange (TXSE) has filed paperwork in the hopes of gaining regulatory approval to start trading and listing companies in 2026.

TLR Thoughts: Texas continues to pose a threat to New York’s financial dominance, attracting top companies and technology giants to the state. The Texas Business Court—a strong alternative to the Delaware Court of Chancery System—is the main draw. This session, TLR is advocating for legislation that will both enhance Texas’s existing corporate governance laws and expand the Texas Business Court’s jurisdiction to include more kinds of commercial disputes, so that Texas remains the premier state for corporate operations.

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