Chicago Mercantile Exchange could be relocating to Dallas

If Dallas lands the CME that would absolutely make Dallas one of the worlds financial centers. Crazy to think this could even happen to Chicago 10 years ago.

"The Republican leader said he’s spoken to CME Group Inc., the world’s largest futures exchange, about relocating to the Lone Star State. CME and other Chicago-based trading firms have complained about a pickup in violent crime since the pandemic as well as potential tax increases floated by the mayor.

“I actually have approached the CME,” Abbott said Wednesday in an interview with Bloomberg Television in New York. “There are some businesses in Chicago that are fed up.”

Goldman Sachs Group Inc. is building a new campus in the upscale Dallas neighborhood of Victory Park. The almost $500 million, 815,000-square-foot campus is set to start construction in the coming months and will house thousands of Goldman Sachs workers when it opens in 2027.

Bank of America Corp. just announced it will be moving local operations to a new skyscraper that will be about a half mile from Goldman’s planned campus. The bank plans to relocate about 1,000 workers from its signature Main Street skyscraper in downtown Dallas to a 30-story Uptown office tower to be built overlooking Klyde Warren Park.

Another big lender, Wells Fargo & Co., has broken ground on a new $500 million campus in Irving. It cited North Texas’ growing financial sector employment as a major factor in its decision to build an 850,000-square-foot, 22-acre office project in Las Colinas.

CME, the Chicago Mercantile Exchange, has been in the Windy City for more than a century, and luring one of the most iconic trading firms to Texas would be a huge step forward and one that would diversify the financial services industry in the state.

Abbott’s remarks follow reports that CME and other financial firms in Chicago, including CBOE Global Markets Inc. and IMC, are alarmed by Mayor Brandon Johnson’s idea for $800 million in taxes, including a levy on financial transactions. In May, CME Chief Executive Officer Terry Duffy said the company is prepared to leave Chicago if local and state officials take steps that are “ill-conceived.”"

Dallas Morning News