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NYSE indicates it will exit New Jersey if state taxes stock trades - WSJ

Sept 11 (Reuters) - The New York Stock Exchange has indicated that it will move its electronic trading systems out of New Jersey if the state implements a proposed tax on financial transactions, the Wall Street Journal reported on.wsj.com/2FngPTY on Friday.

The NYSE plans to announce that it will run one of its exchanges from a backup site in Chicago for a week as a sign of its intention to move out of New Jersey, the Journal said, citing an internal memo.

Most major stock exchange operators, including the NYSE, operate their trading platforms from data centers in New Jersey.

Exchange operators typically have backup centers in other locations to ensure continuity, in case they encounter technical difficulties in their primary locations.

An NYSE spokesman did not immediately respond to a Reuters request for comment. (Reporting by Madhvi Pokhriyal in Bengaluru; Editing by Aditya Soni)

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