I am guessing insider trading will be legal here.
SEC approves Texas Stock Exchange, first new US integrated exchange in decades
131–140 of 493 posts
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#132The 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…
Couldn’t they just send some hardware down Texas to co-locate there (presuming specialist hardware) and add another deployment target for their software? Would it be that hard?
The speed of light limits fibre speed which in turn limits high-frequency trading.
Flash Boys by Michael Lewis was a fun read on the subject. One memorable quote alleged that HFT traders would "sell their grandmothers for a microsecond [of edge]"
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#133Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#134> At $2.4 trillion, Texas' economy is larger than many countries', including Russia, Canada and Italy, according to a report from the governor's office. California's economy is $4.1 trillion and has a much higher chance of growing larger with most of the AI companies based out of CA.
Not sure I understand your point. If someone wants to open an exchange there, what’s stopping them?
I’m a Dallas resident and this has been a large coordinated effort that has a lot of banks relocating here. Not going to debate the good or bad of it, but Texas tends to go after these types of things and creates a favorable environment for it from a business/tax/political standpoint. I don’t know what California does, but I know a whole bunch of Californian corporations have moved here citing similar reasons. So again, what’s stopping something similar from happening in California? (If it doesn’t already exist)
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#135When you can buy a Governor, you buy a Governor. When you can buy a State, you buy a State. When you can buy a SCOTUS Justice, you buy a SCOTUS Justice or 6. When you can buy a POTUS, you buy a POTUS. Elon bought them all and many of you cheer. Says more about you than Elon but speaks mountains about the core of our culture and our national ethos but mostly about how easy it is to pervert people and their false ideol…
What does this have to do with TXSE?
TXSE has everything to do with politics.
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#136Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#137What is the need for another stock exchange? I hate that I am thinking like this but this is just going to be politicized heavily and companies like Tesla and coke will just switch to that exchange causing further more rift in our society. Where one company lists will become a problem for companies and they cannot be neutral politically even if they really are
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#138Pardon 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 l…
Or options products, e.g. cboe
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#139The 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…
> I would assume TXSE would want quick access to that order flow Perhaps Texas could use a different trading model that doesn't require ultra high speed trading. Matt Levine often mulls the idea of a system with a trading window that doesn't let the fastest connection to the order book win. Perhaps an order book that works at human speeds so humans can trade too (I can think of a few ways to do it - but would need mo…
> He points out that most trades are done in the last hour, so really trading only needs to occur once a day.
Presumably then the last trader has the most information, and so the game would be getting the info as late as possible and trading as late as possible, but not too late.
Re: SEC approves Texas Stock Exchange, first new US integrated exchange in decades
#140> At $2.4 trillion, Texas' economy is larger than many countries', including Russia, Canada and Italy, according to a report from the governor's office. California's economy is $4.1 trillion and has a much higher chance of growing larger with most of the AI companies based out of CA.
I expect a series of other choices that force the business into Texas as a way to choke out California for not bowing to the will of a king.
I hate defending his highness, but this has been in play way longer than he’s been in office.