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Chicago Mercantile Exchange could be relocating to Dallas
Posted on 9/27/23 at 6:58 pm
Posted on 9/27/23 at 6:58 pm
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
"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
17
Posted on 9/27/23 at 7:00 pm to MrLSU
Chicago (Jxn) is Dallas (BR) in 20 years
Posted on 9/27/23 at 7:02 pm to MrLSU
Dallas Mercantile Exchange will have no random violence like Chiraqistan, Dallas Cowbaw cheerleader hostesses, complimentary 8-balls direct from jew know who, ivory ash trays, mahogany wood paneling, marble floors, catered buffets from Bob's, Baby Dolls dancers in private rooms for a fee, and free t-shirts.
Posted on 9/27/23 at 7:02 pm to MrLSU
100% has to do with taxes and 0 to do with violent crime.
Posted on 9/27/23 at 7:25 pm to MrLSU
Chicago is on it's way to being the next Detroit.
Will have a largely gutted city surrounded by decent to very nice suburbs.
Will have a largely gutted city surrounded by decent to very nice suburbs.
Posted on 9/27/23 at 7:28 pm to MrLSU
Chicago is the new Detroit
Posted on 9/27/23 at 8:28 pm to MrLSU
Isn’t that where Randolph and Mortimer ran up the price of frozen concentrated orange juice?
Posted on 9/27/23 at 8:55 pm to MrLSU
Just what Texas needs, more finance bros. :eyeroll:
Posted on 9/27/23 at 9:36 pm to MrLSU
I don't see this actually happening, but if it does Chicago is terminal.
Posted on 9/27/23 at 9:57 pm to MrLSU
Ultimately, this feels like an NFL move. Threaten to move, get a bunch of concessions, and stay. I mean, Continental moved their HQ to United HQ in Chicago after the acquisition. That was a total WTF moment for me.
Posted on 9/27/23 at 11:21 pm to MrLSU
quote:
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.”"
Da Mayor has been threatening to tax businesses above a certain size based on headcount IIRC, because he thinks that there is no way those jobs relocate out of Chicago, let alone Illinois.
He’s fricking around and about to find out.
Posted on 9/27/23 at 11:40 pm to MrLSU
Won't happen
Posted on 9/28/23 at 7:08 pm to MrLSU
TX has been successfully courting corporations to move here for decades, don't really see it as a game changer
Posted on 9/28/23 at 7:17 pm to MrLSU
Eventually all the sludge will be in the south and people will have to move north.
Posted on 9/28/23 at 8:21 pm to MrLSU
Come on down
Posted on 9/28/23 at 9:25 pm to MrLSU
I was somewhat involved in the Dallas development scene for a few years. Michael dell is throwing some serious money into projects there.
Posted on 9/29/23 at 3:00 pm to MrLSU
Makes sense, Dallas is in the middle of America where most commodities are found and it's a major airport hub.
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