NEW YORK: Is the New York Stock Exchange (NYSE) about to leave New York city?
The exchange’s President Stacey Cunningham warned Tuesday that the unthinkable was possible, saying the hallowed financial institution on Wall Street could flee if the state imposes a tax on stock trades.
“While New York has remained a center of gravity for the financial industry, many employees of ‘Wall Street’ firms are migrating to Florida, Texas and other states with hospitable tax policies,” Cunningham wrote in a column published in The Wall Street Journal.
She praised a 1981 decision by New York state to stop collecting a tax on stock trades, but warned, “If lawmakers opt to reinstate that tax, the NYSE may…
