Nasdaq scraps plans to move HQ

Nasdaq scraps plans to move HQ

Troubled tech exchange Nasdaq is to maintain its corporate headquarters at One Liberty Plaza, reversing plans to move to mid-town Manhattan due to rising real estate prices.

The news is another blow to the prestige of Nasdaq, which had planned to move its corporate headquarters from lower Manhattan to a higher-profile Times Square location, closer to its MarketSite offices and electronic billboard.

As a result of the decision, approximately 12 members of Nasdaq's executive management team, currently occupying temporary offices at 1500 Broadway, will rejoin approximately 150 employees at the downtown offices before the end of January 2003.

The all-electronic exchange says it will continue to maintain a full-time staff at the MarketSite location in Times Square.

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