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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

#261

Post by dang »

cramcgrab wrote: post #236

[flagged]

Please don't make things even worse by posting bad comments yourself.

https://news.ycombinator.com/newsguidelines.html

Edit: your account has unfortunately been posting a lot of unsubstantive and/or flamebait comments (e.g. https://news.ycombinator.com/item?id=45412687 and https://news.ycombinator.com/item?id=45404646). Can you please stop doing that? It's not what this site is for, and destroys what it is for—we're trying for something different here.

If you wouldn't mind reviewing https://news.ycombinator.com/newsguidelines.html and taking the intended spirit of the site more to heart, we'd be grateful.

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

#262

Post by tredre3 »

dreamcompiler wrote: post #245
tonyhart7 wrote: post #209

Earlier quoted context omitted.

in many country, electric(or energy) is state company that way any infrastructure that related to serve the citizen well being isn't exploited for profit why US can't do this????

The US did do this for most of the 20th century. Or at least something close to this: Many utilities were private companies but they were regulated monopolies. The state allowed them to be monopolies in exchange for tight state control. In the 1990s this started to change. The idea was that the different utilities could compete for customers, and thus they wouldn't be monopolies any more and thus market forces would…

I'm surprised that you put the blame squarely on the the (bought) government.

Deregulation and "free" markets are something that many americans actively want. You can argue that they're misinformed and they're advocating against their own self-interest. But it's still something they actively want, this isn't just the evil corporations taking control of the corrupt government.

In fact on this very site I'd wager that more than half of Americans users are against regulation in general, state ownership of any utility, or any additional control on financial markets.

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

#263

Post by UltraSane »

resters wrote: post #253
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…

Reg NMS’s Order Protection Rule (Rule 611) says you can’t trade through protected NBBO quotes, outside a few narrow exceptions. That’s the letter of the law. The practical effect isn’t just a bit of latency. It rewires incentives. With 611 in place, the question for latency-sensitive firms becomes: what HFT tactics can I run that are 611-compatible? Without 611, the question would be: what HFT tactics actually add va…

There is no reason why shares should be bought on sold in time frames far too short for anything to have meaningfully changed about the companies or market conditions.

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

#265

Post by ohthanks »

lgregg wrote: post #162
leetharris wrote: post #82

Earlier quoted context omitted.

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.

Yeah, but that isn't really an apples to apples comparison. Texas for example had ~400 heat deaths in 2024 depending on where you look but in 2023 it was 334 or 563 depending on your criteria [1]. >But I want to put it into perspective. In 2024, ~62,800 people in Europe died to heat-related events. Most of these deaths are not because of electrification but the fact that homes are built out of bricks and mortar and b…

The vast majority of these 400 heat deaths have nothing to do with the power grid. They are people living outdoors, roofers, elderly, etc. When the temps hit 105+ for long periods there are bound to be people who don't have access to AC or overexert themselves outdoors.

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

#266

Post by Braxton1980 »

conductr wrote: post #134
victor106 wrote: post #118

> 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,…

What's to stop states from increasing the amount they compete with each other to lure businesses by reducing regulations, lower taxes, etc

I think this is a loop that hurts regular people.

Less regulation could open people to more risk and less ways to combat it.

Lower taxes for businesses means that state funding must be made up with either cuts to services or higher taxes on people.

I think Republicans will use these incentives and the federal government's power to push all the money to red states causing economic decline in blue states which they can then blame on the leaders of those states.

I know this already happens but now that Trump is open to blackmailing states with funding because they aren't run by Republicans it will get worse

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

#268

Post by Braxton1980 »

ecshafer wrote: post #94
avgDev wrote: post #77

Earlier quoted context omitted.

"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.

That website shows California as currently worse. It looks like Larger states just have more power outages, which is to be expected. Texas also is a weird state that is very large it gets Tornadoes, extreme heat, and hurricanes, while also having several very large metro areas in it. There also isn't anything indicated differences in grid monitoring, are all grids (like large rural grids) monitored to the same levels…

90% of the Texas grid is independent from the rest of the country

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

#269

Post by jlarocco »

Braxton1980 wrote: post #266
conductr wrote: post #134

Earlier quoted context omitted.

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,…

What's to stop states from increasing the amount they compete with each other to lure businesses by reducing regulations, lower taxes, etc I think this is a loop that hurts regular people. Less regulation could open people to more risk and less ways to combat it. Lower taxes for businesses means that state funding must be made up with either cuts to services or higher taxes on people. I think Republicans will use the…

Those are formulated as hypothetical statements and "what if" questions, but it already works that way in the United States.

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

#270

Post by TacticalCoder »

victor106 wrote: post #118

> 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.

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