This is great news. Congratulations. How are you going to help companies and their investors define performance for the long term in this new age?
U.S. regulators approve the Long-Term Stock Exchange
181–190 of 200 posts
Re: U.S. regulators approve the Long-Term Stock Exchange
#182Does listing on ltse absolve the company ofthe standard rules around going public like Sox compliance?
No
Re: U.S. regulators approve the Long-Term Stock Exchange
#183Hey everyone, Eric Ries here, founder and CEO of LTSE (and also you may remember me from such roles as the Lean Startup guy). Day one of approval has been kind of exhausting with all the attention but I wanted to stop by this thread and say hello. Have questions? Happy to answer as best I can. Keep in mind that this is a highly-regulated startup so we are sometimes limited in what we can say publicly. I’ll do my best…
Will LTSE support reg A+ early IPOs?
The answer is unfortunately complicated and depends in part on the resolution of this issue:
https://www.lexology.com/library/detail.aspx?g=96b76e1c-a54a...
But we would like to.
Re: U.S. regulators approve the Long-Term Stock Exchange
#184Hey everyone, Eric Ries here, founder and CEO of LTSE (and also you may remember me from such roles as the Lean Startup guy). Day one of approval has been kind of exhausting with all the attention but I wanted to stop by this thread and say hello. Have questions? Happy to answer as best I can. Keep in mind that this is a highly-regulated startup so we are sometimes limited in what we can say publicly. I’ll do my best…
Great idea, congrats on the approval. I have a few questions after reading the article. Broadly, what did you have to change to get SEC approval? Have you considered supporting some sort of crowdfunding private model as well - like angel investing for the masses, before a company goes public? Will you be available in all the big trading brokers for retail investors? I use freetrade (uk broker) and would love to see y…
Our application was just the first step. This is the base layer of rules and standards, very much akin to NASDAQ or NYSE. That’s not a change per se, it’s just where you have to start. We will make additional filings soon.
Crowdfunding and private markets. We have some ideas on how this could be done in an ethical and transparent way, but we would proceed cautiously if we go that way. Too much activity these days is quite dubious and we don’t want to profit from that.
Yes, all of our listing stocks will reads as part of the National Market System, which means you’ll be able to access them everywhere including at retail. It’s very important to use that everyday people are able to access the same features and benefits as larger holders.
On rewards for long-term holders, yes we have considered that and I think you’ll be pleased by what we eventually roll out.
Re: U.S. regulators approve the Long-Term Stock Exchange
#185Hey everyone, Eric Ries here, founder and CEO of LTSE (and also you may remember me from such roles as the Lean Startup guy). Day one of approval has been kind of exhausting with all the attention but I wanted to stop by this thread and say hello. Have questions? Happy to answer as best I can. Keep in mind that this is a highly-regulated startup so we are sometimes limited in what we can say publicly. I’ll do my best…
Does this exchange have any plans in place to avoid front-running high frequency trading? Similar to IEX. It seems the focus of this initiative is aimed at aligning long term voter control, but these front-running techniques don't really care about control.
Our current filing is silent about these features and I can’t be specific with our future plans until we file with regulators. With this approval, we can now work with participants in the market and learn how we can best serve all stakeholders.
Re: U.S. regulators approve the Long-Term Stock Exchange
#186This is great news. Congratulations. How are you going to help companies and their investors define performance for the long term in this new age?
As the old saying goes, “very very carefully.”
Just kidding. We will make extensive filings on this subject, coming up soon.
Until then the best way to think about this is as a set of principles.
This next generation of companies believes in - defining success in generational terms, not beating the quarter or some transient competitor - considering their impact on multiple stakeholders: shareholders, yes, but also employees, partners, customers, communities - building products that are fundamentally healthy for humans and the societies they inhabit
Re: U.S. regulators approve the Long-Term Stock Exchange
#187Earlier quoted context omitted.
Great idea, congrats on the approval. I have a few questions after reading the article. Broadly, what did you have to change to get SEC approval? Have you considered supporting some sort of crowdfunding private model as well - like angel investing for the masses, before a company goes public? Will you be available in all the big trading brokers for retail investors? I use freetrade (uk broker) and would love to see y…
Our application was just the first step. This is the base layer of rules and standards, very much akin to NASDAQ or NYSE. That’s not a change per se, it’s just where you have to start. We will make additional filings soon. Crowdfunding and private markets. We have some ideas on how this could be done in an ethical and transparent way, but we would proceed cautiously if we go that way. Too much activity these days is…
Sounds great, thank you for the informative responses in this thread. Re changes/revisions before acceptance by the SEC, I was referring to this part of the article:
Friday’s decision followed an uncertain fate for LTSE, which had faced SEC opposition before revising parts of its proposal.
Re: U.S. regulators approve the Long-Term Stock Exchange
#188Earlier quoted context omitted.
Our application was just the first step. This is the base layer of rules and standards, very much akin to NASDAQ or NYSE. That’s not a change per se, it’s just where you have to start. We will make additional filings soon. Crowdfunding and private markets. We have some ideas on how this could be done in an ethical and transparent way, but we would proceed cautiously if we go that way. Too much activity these days is…
Sounds great, thank you for the informative responses in this thread. Re changes/revisions before acceptance by the SEC, I was referring to this part of the article: Friday’s decision followed an uncertain fate for LTSE, which had faced SEC opposition before revising parts of its proposal.
Yeah, I understand why they wrote that - this process is confusing. This is an entirely new proposal because we are applying under a different regulatory pathway (a “form one filing” instead of a “rules change” on a legacy exchange).
Re: U.S. regulators approve the Long-Term Stock Exchange
#189Hey everyone, Eric Ries here, founder and CEO of LTSE (and also you may remember me from such roles as the Lean Startup guy). Day one of approval has been kind of exhausting with all the attention but I wanted to stop by this thread and say hello. Have questions? Happy to answer as best I can. Keep in mind that this is a highly-regulated startup so we are sometimes limited in what we can say publicly. I’ll do my best…
why continuous auction and not discrete timed auctions? four times a day or every half hour or whatever would remove HFT from the equation.
Re: U.S. regulators approve the Long-Term Stock Exchange
#190Hey everyone, Eric Ries here, founder and CEO of LTSE (and also you may remember me from such roles as the Lean Startup guy). Day one of approval has been kind of exhausting with all the attention but I wanted to stop by this thread and say hello. Have questions? Happy to answer as best I can. Keep in mind that this is a highly-regulated startup so we are sometimes limited in what we can say publicly. I’ll do my best…
Thank you for driving innovation in equity markets! We need more focus on long-term capital allocation, and less on the casino aspect of stock prices. Have you considered incorporating some form of low-frequency trading? With an auction for shares held once a day, once a month, or even once a year? (I have heard Warren Buffett say that, if it were possible, he would prefer if investors could buy or sell Berkshire Hat…
Equity auctions already happen at the open and close (and any restarts).