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SEC approves Texas Stock Exchange, first new US integrated exchange in decades

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Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades

#51

Post by lupusreal »

piltdownman wrote: post #35
tcbawo wrote: post #4

Is 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.

Run by Blackrock & Citadel, instigated in part to circumvent DEI protections, in a State that can’t keep their power grid stable, promising less regulations for the people running it and listing their companies on it. Simply put, this is Republicans pushing for “Y'all Street". Target one will be earnings reports, but the eventual push will be to not be overseen by the SEC in some important capacity.

> DEI protections

Forgive my ignorance, but what does that mean in this context?

Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades

#52

Post by ajross »

ineedaj0b wrote: post #37
excalibur wrote: post #18

Earlier quoted context omitted.

[flagged]

Reddit can become a echochamber, a one sided flog machine, all good content decaying, no good or viable business after 10 years (propped up by YC investors), it’s even become a slur to denote a certain type of brain and eventually it will die off like slashdot and digg did. But you won’t be able to take the Redditors off the internet. They be lurking, waiting with a perfectly annoying post ironic millennial reply. I…

> grid robustness - a problem solved in nearly all states

Shouldn't that drive the question of why Texas is so bad, though? This argument seems to amount to "Everyone else is better than us, so we must be the experts in fixing the problem.", which seems weirdly backwards.

Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades

#53

Post by hiatus »

piltdownman wrote: post #35
tcbawo wrote: post #4

Is 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.

Run by Blackrock & Citadel, instigated in part to circumvent DEI protections, in a State that can’t keep their power grid stable, promising less regulations for the people running it and listing their companies on it. Simply put, this is Republicans pushing for “Y'all Street". Target one will be earnings reports, but the eventual push will be to not be overseen by the SEC in some important capacity.

> will be to not be overseen by the SEC in some important capacity.

How would a securities exchange avoid being regulated by the securities and exchange commission?

Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades

#54

Post by xadhominemx »

rafram wrote: post #27
thinkingtoilet wrote: post #25

Earlier quoted context omitted.

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.

I’m sure all their infrastructure and probably the majority of their employees will be in the NYC metro area.

Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades

#55

Post by threetonesun »

ivape wrote: post #47
tcbawo wrote: post #4

Is 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.

Speculation (no pun intended), but … CEO OF Robinhood has been talking about offering crypto as a vector for acquiring shares for private companies: https://www.sec.gov/about/crypto-task-force/written-submissi... This admin and this new exchange would probably allow all kinds of nonsense to be publicly traded compared to other exchanges. We’ve got three more years to go and this exchange, or anything new that happens…

Seems especially suspicious with the 401k executive order, like a nice avenue to get unaware people invested in digital Beanie Babies.

Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades

#56

Post by abirch »

no_circuit wrote: post #20
tcbawo wrote: post #4

Is 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.

Yes, from https://www.txse.com/solutions : TXSE's goal is to provide greater alignment with issuers and investors and address the high cost of going and staying public. The alignment part translates IMO to avoiding political / social science policy issues like avoiding affirmative action listing requirements like the Nasdaq Board Diversity Rules that was just recently repealed: https://corpgov.law.harvard.edu/2025/01…

Delaware protects the shareholders. It's uncertain what will happen in Texas.

https://www.bloomberg.com/opinion/articles/2024-02-01/texas-... https://www.bloomberg.com/opinion/articles/2025-02-03/texas-...

Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades

#57

Post by __s »

ToucanLoucan wrote: post #50
bluGill wrote: post #46

Earlier quoted context omitted.

Doesn't matter where you are you need that. There is no place in the world where the grid is reliable enough that someone who wants to operate with high reliability can get by without ample backup power. Grid power is normally a lot cheaper than running backup power (that is the capital and maintenance costs are sunk costs, just counting fuel) so it isn't worth disconnecting from the grid despite having enough backup…

[flagged]

Tho energy is also a lot cheaper in Texas than NY. If you have to have ample back up regardless, total cost of maintaining consistent power can be lower even when grid quality is lower

(ofc, I'm looking at retail rates, who knows what specific numbers can be cut in contract)

Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades

#58

Post by janmo »

ijidak wrote: post #44
janmo wrote: post #7

Earlier quoted context omitted.

Hopefully they will provide cheap market data like IEX did in its beginning.

Is there a similar source you're aware of, cheap with a clean API? Hated to lose IEX.

Depends what you are looking for. Is it real time quotes?

IEX data is now free after 15minutes instead of 15milliseconds.

One option is the Databento US Equities Mini for 200 USD per month. If I understand it correctly it is some sort of weighted average between multiple exchanges.

Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades

#59

Post by [deleted] »

ToucanLoucan wrote: post #50
bluGill wrote: post #46

Earlier quoted context omitted.

Doesn't matter where you are you need that. There is no place in the world where the grid is reliable enough that someone who wants to operate with high reliability can get by without ample backup power. Grid power is normally a lot cheaper than running backup power (that is the capital and maintenance costs are sunk costs, just counting fuel) so it isn't worth disconnecting from the grid despite having enough backup…

[flagged]

[deleted]
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