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

Post by ohples » Wed, Oct 08, 2025, 4:58 PM UTC

tomrod wrote: post #223

CGMthrowaway wrote: post #213

Earlier quoted context omitted.

So in other words, healthy competition, and may the best man win. Contrary to many comments this is more than political reaction/posturing. The state of Texas is the world's 8th largest GDP and a diverse one, with no one sector exceeding 9%. Texas is well-positioned relative to NYC for attention around AI, as it is not geographically constrained and has an energy advantage. There is financial credibility built in as…

All true. Texas worker environment is not great though. Folks typically list income tax as an advantage but property and sales taxes more than make up the difference. Also, govt admin is fairly hostile to any infrastructure expansion, preferring to let the local car dealers buy new town charters with no infrastructure. Environmental regs are not well managed generally. Anyhow, not the worst state, not the best. Prett…

Post by ukd1 » Wed, Oct 08, 2025, 4:58 PM UTC

jen20 wrote: post #228

usefulcat wrote: post #219

Earlier quoted context omitted.

> Perhaps Texas could use a different trading model that doesn't require ultra high speed trading. What would that look like? Periodic auctions? Certainly it could be done, I'm just trying to understand what problem might be solved, and whether the solution would be effective. For example, even with the opening and closing auctions we have today, there can be an advantage to getting your order accepted right before t…

One option is to add a random delay to every trade, thus making high speed arbitrage substantially more difficult.

Post by jedberg » Wed, Oct 08, 2025, 5:03 PM UTC

usefulcat wrote: post #219

robocat wrote: post #130

Earlier quoted context omitted.

> 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…

> Perhaps Texas could use a different trading model that doesn't require ultra high speed trading. What would that look like? Periodic auctions? Certainly it could be done, I'm just trying to understand what problem might be solved, and whether the solution would be effective. For example, even with the opening and closing auctions we have today, there can be an advantage to getting your order accepted right before t…

Post by ivape » Wed, Oct 08, 2025, 5:11 PM UTC

tsunamifury wrote: post #74

ivape wrote: post #47

Earlier quoted context omitted.

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.

Post by DudeOpotomus » Wed, Oct 08, 2025, 5:15 PM UTC

halfmatthalfcat wrote: post #192

DudeOpotomus wrote: post #173

Earlier quoted context omitted.

Isnt it amazing how few people actually pay attention let alone ask themselves "why?". The worst part? HN users are much better educated and tend to be much smarter than the average person. If this audience is so easily manipulated, it's no wonder the larger population is being controlled by such obvious tactics. sigh...

If you took my comment as anything other than asking how your broad strokes trite criticism of "people in power bad" relates to TXSE, you're the one who needs some reflection. I wanted to know more about how your conspiracy laden poem directly connected to TXSE but I guess HN likes to just accept low quality content for real discussion now.