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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

#81

Post by caminante »

hbarka wrote: post #65
hiatus wrote: post #53

Earlier quoted context omitted.

> 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...

Relevancy to the question raised above, aside, that's a bad article headline as it doesn't match the contents.

SEC Chair says they are going to hunt crooks more aggressively, but won't leverage dawn raids as much to chase technical violations.

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

#82

Post by leetharris »

avgDev wrote: post #77
leetharris wrote: post #60

Earlier quoted context omitted.

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.

What you talked about is not a Texas grid problem, but a local problem. The Texas grid itself is very reliable.

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

Yes, a rare storm knocked out power and people died. It is a big deal and a lot of things changed after the event.

But I want to put it into perspective. In 2024, ~62,800 people in Europe died to heat-related events.

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

#83

Post by leetharris »

coherentpony wrote: post #79
leetharris wrote: post #60

Earlier quoted context omitted.

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/d…

[flagged]

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

#84

Post by wmeredith »

lighthazard wrote: post #72
chronic74939 wrote: post #67

Earlier quoted context omitted.

> 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.

Whataboutism: https://en.wikipedia.org/wiki/Whataboutism

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

#86

Post by ceejayoz »

leetharris wrote: post #70
ToucanLoucan wrote: post #50

Earlier quoted context omitted.

[flagged]

[flagged]

ChatGPT is a long, long way from being able to successfully analyze this sort of thing. Texas's failed in a way that caused people to freeze to death that's unlikely to occur in NY.

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

#87

Post by caminante »

username332211 wrote: post #76
abirch wrote: post #56

Earlier quoted context omitted.

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 Delaw…

The irony is that the Levine article the parent provided argues that DE did the exact opposite of shareholder wishes!

> it is weird that Tesla’s management and board of directors and (a large majority of) shareholders all agreed that Musk should get paid $55.8 billion for creating $600 billion of shareholder value, and he did do that, and he got paid that, and a judge overruled that decision and ordered him to give back the money. I can see why Musk — and Tesla’s board, and its shareholders — would find that objectionable! They’re trying to run a company here.

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

#88

Post by jjk166 »

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.

https://www.forbes.com/sites/edhirs/2024/12/09/after-4-years...

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

#89

Post by javier123454321 »

Pardon my ignorance but can anyone can help me figure out what does it mean to have a new stock exchange? Dont exchanges sell the same stocks? Is it just a way to earn some fees by capturing some of the trades in their platform?

I'll obviously google it now but I'd appreciate some insight.

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

#90

Post by kasey_junk »

javier123454321 wrote: post #89

Pardon my ignorance but can anyone can help me figure out what does it mean to have a new stock exchange? Dont exchanges sell the same stocks? Is it just a way to earn some fees by capturing some of the trades in their platform? I'll obviously google it now but I'd appreciate some insight.

Each exchange can make its own rules for what it will list and how it will trade (within the broader SEC regulations).

So yes it’s just a way to capture fees from listers who like your exchange better as the primary listing exchange and from market participants that must be in every exchange (latency sensitive HFT).

None of the many exchanges that have started have made a dent in the existing duopoly for real share listings that Nasdaq/nyse have. But some exchanges have made good business off of other products like etfs.

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