Hope they have ample backup power
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SEC approves Texas Stock Exchange, first new US integrated exchange in decades
21–30 of 493 posts
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#22Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#23Is there anything interesting or novel about this exchange, other than its headquarters are located in Texas? From what I can tell, the primary data centers will be in New Jersey like all the others.
I imagine as businesses move away from NY and SF, they want their stock exchange to move with them, and for similar reasons.
As far as I'm aware, all of the major exchanges in the US are in NY or in Chicago, and even then, Chicago is mostly just futures exchanges for commodities and not stock exchanges. So unless you're headquartered in NYC (which most companies listed on NYSE/NASDAQ are not), you're already not working with a stock exchange in the same area as you, and failing to collocate the stock exchange isn't really a detriment. (Interestingly, even historically, when stock exchanges were more plentiful in the country, there just doesn't seem to have been much demand for a stock exchange on the west coast at all.)
The main reason to move away from the NYSE or NASDAQ is if you don't like the rules those stock exchanges have.
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#24Can only imagine how washtrading will become like American pie.
There were already two exchanges. I don't think this changes much.
There are currently about two dozen national securities exchanges plus a whole lot of alternative trading venues, broker internalisation, and whole market makers that match orders directly. It's a highly fragmented market where one additional exchange will have no substantial impact.
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#25Is there anything interesting or novel about this exchange, other than its headquarters are located in Texas? From what I can tell, the primary data centers will be in New Jersey like all the others.
I imagine as businesses move away from NY and SF, they want their stock exchange to move with them, and for similar reasons.
Why would businesses want to move away from the 4th largest economy in the world to less successful states?
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#26Hope they have ample backup power
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Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#27Earlier quoted context omitted.
I imagine as businesses move away from NY and SF, they want their stock exchange to move with them, and for similar reasons.
Why would businesses want to move away from the 4th largest economy in the world to less successful states?
40% lower labor costs, 60% political posturing.
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#28Well we wait for TXSE to do IPO and get listed in NYSE/NASDAQ and then we buy TXSE since house always wins.
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#29Not to be confused with NYSE Texas which also launched this year and an entirely different thing https://www.nyse.com/markets/nyse-texas
To add to the confusion, NYSE Texas is just a rebranding of NYSE Chicago which used to be independent of NYSE when it was its own thing.
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#30Can only imagine how washtrading will become like American pie.
There were already two exchanges. I don't think this changes much.
A good overview of the flow of volume through these various venues can be found here. Bottom line - there are more than two exchanges.