Did the New York Stock Exchange react to Zohran Mamdani's victory in the mayoral election by relocating to Texas from its 230-year base on New York City's Wall Street? No, that's not true: Intercontinental Exchange, the company that owns and operates the New York Stock Exchange, announced in February, when polls showed Mamdani with a single-digit pool of support, that it would relocate its NYSEChicago division to Texas. The NYSETexas exchange was announced as an all-electronic service to companies listing and trading stocks. There has been no New York Stock Exchange announcement that it is leaving the world center of banking and finance.
The relocation rumor appeared in a November 6, 2025 X post (archived here) on the @Saxon_African account with text that read:
New York Stock Exchange has filed its relocation.
To Texas.
🤣
Mamdanis Election has not only lost NYC billions but has successfully handed the money, jobs and businesses to republican states...
Beautiful.
Here is what the post on X looked like at the time this fact check was written:
(Image source: Lead Stories screenshot of post at x.com/Saxon_African/status/1986691360556994938.)
Intercontinental Exchange's press release about opening a Texas office was posted on its website February 12, 2025, nine months before Mamdani's win:
(Image source: Lead Stories screenshot of website article at https://ir.theice.com/press.)
Nowhere in the press release does Intercontinental Exchange say it is relocating the entire New York Stock Exchange. The announcement it will open a satellite stock exchange in Texas began as follows:
The New York Stock Exchange, part of Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced plans to launch NYSE Texas, a fully electronic equities exchange, headquartered in Dallas, Texas. Pending the effectiveness of regulatory filings, NYSE Chicago will reincorporate in Texas and be renamed NYSE Texas, offering companies the opportunity to list their securities on NYSE Texas...
...the launch of NYSE Texas will provide public companies with a listing and trading venue centered within the vibrant economy of the southwestern U.S. With this launch, NYSE Texas will deliver a listing exchange to companies incorporated both in Texas and around the world that are attracted to Texas' growing population, strong economy and business-friendly regulatory agenda. The NYSE plans to make regulatory and corporate filings to effect the reincorporation in the near term.
In March, the exchange announced it was open, operating and that Trump Media had listed its stock through the Texas office:
(Image source: Lead Stories screenshot of website article at https://ir.theice.com/press.)
The premise of the claim, that Mamdani's Democratic Socialist agenda chased the New York Stock Exchange from its home of 230 years, rests on the idea that his mere appearance in the Democratic mayoral primary was enough, since the NYSE announcement was made when pollsters showed him in the low single digits.
The UK's Channel 4 News, a major nightly TV news show, has reported, without providing a citation of its source, that Mamdani's support in February was just 1 percent of those surveyed about the mayoral race, in which he was one of several contenders for the Democratic nomination.
In March of 2025, Quinnipiac University's polling team published a survey showing Mamdani with support from just eight percent of those surveyed about the Democratic mayoral primary.
The Intercontinental Exchange catalogue of news releases for the month leading up to election day shows no mention of plans to relocate:
(Image source: Lead Stories screenshot of website article at https://ir.theice.com/press.)
Relocation of the New York Stock Exchange would be among the biggest business stories possible in the New York-based financial news organizations and in New York's local newsrooms. Lead Stories searched the Google News index of thousands of news sites, finding zero reports that the Exchange was leaving New York, although some financial writers speculated the Exchange would again make the threat, if New York raised taxes.
