Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

cbsnews.com

Post reply on HN
Print view View original

61–70 of 493 posts

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

#61

Post by chronic74939 »

Bluecobra wrote: post #34
SkipperCat wrote: post #13

The Miami stock exchange (MIAX) has their matching engines colocated in Equinix's NY4 data center in Secaucus NJ, much like many other exchanges. I would not be surprised if TXSE does the same. Many trading firms already have their trading engines in that data center and I would assume TXSE would want quick access to that order flow and this might be easier if they are in NY4. Of course, they may want to have their c…

If anything they will build a backup DC in Texas so they can hold that over NJ in case the local government starts talking about transaction taxes again. The CME is currently building a “backup” private Google Cloud datacenter in Dallas.

> The CME is currently building a “backup” private Google Cloud datacenter in Dallas.

This has been “in progress” for over 5 years now.

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

#62

Post by micromacrofoot »

leetharris wrote: post #60
cozzyd wrote: post #10

Hope they have ample backup power

Texas loses power one time for a week and the redditors will never let it go. Wild how this is still a cringe joke so many years later.

it was an avoidable catastrophe, not just a minor blip

I still remember the northeast blackout from 2003 too and that was only a part of a day for me

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

#63

Post by vslira »

chronic74939 wrote: post #61
Bluecobra wrote: post #34

Earlier quoted context omitted.

If anything they will build a backup DC in Texas so they can hold that over NJ in case the local government starts talking about transaction taxes again. The CME is currently building a “backup” private Google Cloud datacenter in Dallas.

> The CME is currently building a “backup” private Google Cloud datacenter in Dallas. This has been “in progress” for over 5 years now.

Probably doesn't ever need to be completed, just in the works as a reminder every time the aforementioned taxes are floated as an idea

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

#64

Post by crowcroft »

lupusreal wrote: post #51
piltdownman wrote: post #35

Earlier quoted context omitted.

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?

I don't think the NYSE had any DEI requirements, but the NASDAQ created a rule where boards needed some minority representation in order to be listed. That rule was challenged and overturned in court though.

> On August 6, 2021, the SEC approved Nasdaq’s proposed diversity rule for companies listed on its exchange. The rule required Nasdaq-listed companies to (1) publicly disclose board-level demographic data annually and (2) have, or explain why they do not have, a certain number of diverse directors on their boards. Companies with more than five board members were required to have two members from an underrepresented group, including one female and one person who self-identifies as Black, Hispanic, Asian, Native American, Alaskan Native, Native Hawaiian, Pacific Islander, biracial, or LGBTQ+.

https://ogletree.com/insights-resources/blog-posts/fifth-cir...

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

#65

Post by hbarka »

hiatus wrote: post #53
piltdownman wrote: post #35

Earlier quoted context omitted.

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?

When you have headlines like this: https://www.ft.com/content/55d4c6e5-663b-4b09-a374-1a607f82a...

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

#67

Post by chronic74939 »

cozzyd wrote: post #10

Hope they have ample backup power

> Hope they have ample backup power

Texas has more reliable electricity than California

considering the California electricity provider PG&E shuts off the electricity multiple times a year when it gets windy outside, to prevent power lines falling (due to lazy maintenance) and starting a wildfire

I wonder where the California’s additional 13% tax on capital gains is being spent? SF parking ticket enforcement?

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

#68

Post by caminante »

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]

I know this sub thread kicked off with snark about regional grids. That said, TXSE will be located in Dallas, a T5 datacenter city.

Why can't it be MORE reliable than XNYS/XNAS?

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

#70

Post by leetharris »

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]

[flagged]
Post reply on HN