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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

#271

Post by Braxton1980 »

jlarocco wrote: post #269
Braxton1980 wrote: post #266

Earlier quoted context omitted.

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.

I meant what if it gets worse? I thought that was assumed.

Corruption, tax inequality, and the use of political power to benefit business will always be present and therefore the amount is what's important.

Every politician lies so that doesn't matter. What matters is what the lie about and how often it occurs. It's the same with corruption.

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

#272

Post by mtoner23 »

peterbonney wrote: post #230
kasey_junk wrote: post #149

Earlier quoted context omitted.

IEX tried this to much fanfare. Turns out most participants don’t particularly care about that as a motivating factor.

I'd say IEX has done remarkably well - it's not likely to displace NASDAQ or NYSE but it has solidified its place as the #3 US exchange by any reasonable measure. If TXSE achieves comparable market share I'd call that a wild success. You're not wrong to say that most participants don't care about what IEX offers, but enough do to make a meaningful dent in trading volume.

Cboe miax and memx are all doing better than IEX

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

#273

Post by wilkinsdougie »

SkipperCat wrote: post #13

The 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…

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

#275

Post by [deleted] »

Braxton1980 wrote: post #271
jlarocco wrote: post #269

Earlier quoted context omitted.

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

I meant what if it gets worse? I thought that was assumed. Corruption, tax inequality, and the use of political power to benefit business will always be present and therefore the amount is what's important. Every politician lies so that doesn't matter. What matters is what the lie about and how often it occurs. It's the same with corruption.

[deleted]

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

#276

Post by dctoedt »

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…

> doesn't this cause a loop that hurts regular people?

I've seen this described as "a race to the bottom."

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

#277

Post by TacticalCoder »

janmo wrote: post #58
ijidak wrote: post #44

Earlier quoted context omitted.

Is there a similar source you're aware of, cheap with a clean API? Hated to lose IEX.

Depends what you are looking for. Is it real time quotes? IEX data is now free after 15minutes instead of 15milliseconds. One option is the Databento US Equities Mini for 200 USD per month. If I understand it correctly it is some sort of weighted average between multiple exchanges.

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

#278

Post by downrightmike »

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.

Enron 2.0 Bigger and Unregulated!

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

#279

Post by yifanl »

zahlman wrote: post #258
yifanl wrote: post #238

Earlier quoted context omitted.

Well consider what makes the tech industry different than any other. It's purely cultural forces that define if someone's a techie or not, so of course it devolves into politicking.

> It's purely cultural forces that define if someone's a techie or not No, this is defined by the knowledge and skill involved.

We live in an era where its trivial for anybody to learn how to code, and every level of new goalposts you add before saying someone is a true techie is imposed purely by cultural forces.

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

#280

Post by cyanydeez »

this_user wrote: post #24
philipallstar wrote: post #6

Earlier quoted context omitted.

There were already two exchanges. I don't think this changes much.

There are currently about two dozen national securities exchanges plus a whole lot of alternative trading venues, broker internalisation, and whole market makers that match orders directly. It's a highly fragmented market where one additional exchange will have no substantial impact.

One exchange in a failed, fascist state is a bit different.
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