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Austin No Threat to Stock Exchange in Wilmington

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Some had feared that Texas was in the running in the competition for a stock exchange with Wilmington.

The News Journal reports that John Wallace, the chairman of the newly created Delaware Board of Trade Holdings Inc., had indeed approached the city of Austin.

But the paper reports that those talks went nowhere and the company wound up going with Wilmington.

Wallace said yesterday that the Delaware town remains the only viable site for the startup exchange.

The paper reports that there had been rumors about competition from the Lone Star state while discussions were taking place with Wilmington officials.

There has been debate about the use of public funds for the project.

The exchange would handle small and medium sized firms. 

Don Rush is the News Director at Delmarva Public Media. An award-winning journalist, Don reports major local issues of the day, from sea level rise, to urban development, to the changing demographics of Delmarva.