SEC approves Texas Stock Exchange, first new US integrated exchange in decades • Hacker News Board

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

#491

Post by wbl » Mon, Oct 13, 2025, 5:03 AM UTC

sgc wrote: post #360

wbl wrote: post #283

Earlier quoted context omitted.

You don't want that unless you want to wait days to trade.

That is the point. So much stock market activity is just gambling with a lot of veneer to cover it up. Enough with the games.

I think it's good that I get to deposit money into my 401k quickly.

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

#492

Post by jpfromlondon » Mon, Oct 13, 2025, 8:25 AM UTC

UltraSane wrote: post #466

jpfromlondon wrote: post #434

Earlier quoted context omitted.

Liquidity provision is valuable though, and it's not really parasitic to exploit inefficiencies, it's not even that profitable a strategy today.

It isn't nearly valuable enough to compensate for the wealth HFT extracts from the market.

your information seems to be at least a decade out of date

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

#493

Post by resters » Tue, Oct 14, 2025, 3:50 AM UTC

UltraSane wrote: post #484

resters wrote: post #482

Earlier quoted context omitted.

Which moral doctrines/strictures do you think it violates?

Basic fairness

It's a tradeoff. Suppose you are relegated to trading once per minute and you need to allocate $x per trade to make a profit. If you can trade 100 times per minute you need $x/100 to make a profit.

Or, maybe your strategy doesn't make money when you can trade once per minute, but does at a higher frequency.

What is fair about saying someone has to have 100x the capital to participate? You are focusing only on one dimension of cost, when there are several.