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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

#71

Post by tsunamifury »

chronic74939 wrote: post #67
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?

What did California have to do with this other than everything you are saying being laughable cope and false.

(Regional controlled brownouts and state wide power grid failure are not comparable)

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

#72

Post by lighthazard »

chronic74939 wrote: post #67
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?

Wondering why you'd bring up California in a discussion about Texas.

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

#73

Post by eej71 »

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.

Consider a broader range of news sources in your daily diet.

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

#74

Post by tsunamifury »

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…

You mean that ceo that hawks scam coins as fraudulent ways to invest in OpenAI.

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

#75

Post by tsunamifury »

jcranmer wrote: post #23
philipallstar wrote: post #8

Earlier 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.

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. (Int…

Scams. The answer you are looking for is scams and fraud

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

#76

Post by username332211 »

abirch wrote: post #56
no_circuit wrote: post #20

Earlier quoted context omitted.

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-...

I'm sorry but what?

Delaware law exclusively protects the interests of the board of directors. It allows for a unique provision - the hilariously misnamed "Shareholders Rights Plan" that enable a board of directors to issue shares as they please, in order to make sure every attempt at takeover isn't against the interests of the directors.

The only check on the power of the board in a Delaware corporation is the Delaware court of chancellery.

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

#77

Post by avgDev »

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.

"There have been 263 power outages across Texas since 2019, more than any other state, each lasting an average of 160 minutes and impacting an estimated average of 172,000 Texans, according to an analysis by electricity retailer Payless Power (https://paylesspower.com/blog/blackout-tracker/)"

Also in 2021 210 people died. This is a huge deal. This wasn't just a little outage.

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

#78

Post by avgDev »

chronic74939 wrote: post #67
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?

According to this Texas is the worst.

https://docs.house.gov/meetings/GO/GO05/20240312/116952/HHRG...

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

#79

Post by coherentpony »

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.

> 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.

Texas had the most number of power outages between 2019 and 2023 [1].

It wasn't one time. And it's not a joke. Infrastructure weatherization is a very real overlooked (and expensive) investment that still has not taken place.

[1]: https://www.congress.gov/118/meeting/house/116952/documents/...

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

#80

Post by spare_farts »

chronic74939 wrote: post #67
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?

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