alt Hacker NewsSEC approves Texas Stock Exchange, first new US integrated exchange in decades
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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.
Many HN readers with an interest in HFT will find the Sniper in Mahwah blog excellent reading. No longer publishing since 2019 as far as I can tell, but it was great while it lasted:
> world-class exchange rooted in alignment
Does this actually mean something specific?
Is there anything interesting or novel about this exchange, other than its headquarters are located in Texas? From what I can tell, the primary data centers will be in New Jersey like all the others.
This reads like a press release.
Here's an article that appears to provide a bit more perspective: https://www.reuters.com/legal/government/txse-says-sec-appro...
Also, this is a fun nugget from the Reuters article about this new exchange providing competition to NYSE and NASDAQ:
> But those rivals are not sitting idly by. On March 31, the NYSE opened its own Texas outpost, disclosing that Trump Media & Technology would be the first company to list there.
Well we wait for TXSE to do IPO and get listed in NYSE/NASDAQ and then we buy TXSE since house always wins.
Texas hold `em; Texas short `em
Not to be confused with NYSE Texas which also launched this year and an entirely different thing
> 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.
Doesn't this increase opportunity for arbitrage as it's not likely exchanges are going to be perfectly synchronized to the overall market? Also doesn't this also offer opportunities to sell pink sheets stocks in what is conceivably a "fresh market"?
I always wonder why an economic powerhouse like California or Washington doesn't have its own stock exchange.
Maybe it is the strict regulation that makes it not viable?
Like in Civ6, I'm sure it will require a lot of power.
NASDAQ is eponymous for the market cap fluctuations of techno-capitol.
TSE is valued at 2.4tn.
Oh great another stock exchange with fewer rules. Elon must be so happy.
Texas, well known for the strength of it's financial regulation.
TX as in transaction
_Surprised it's not a segregated exchange._
Now CA needs one
This headline is kind of dumb. Yes, there is yet another new venue. But other recent "new" venues include MIAX, IEX, MEMX, and soon to be active - 24X. Oh and let's not forget the Long Term Stock Exchange (LTSE).
Musk trillionaire confirmed.
Can only imagine how washtrading will become like American pie.
Does Abbott know you need a stable electric grid to run a financial exchange?
What is the need for another stock exchange? I hate that I am thinking like this but this is just going to be politicized heavily and companies like Tesla and coke will just switch to that exchange causing further more rift in our society. Where one company lists will become a problem for companies and they cannot be neutral politically even if they really are
I want 24x7, free or non-profit full book data streaming/downloading.
otherwise there is one more trouble for me.
When you can buy a Governor, you buy a Governor.
When you can buy a State, you buy a State.
When you can buy a SCOTUS Justice, you buy a SCOTUS Justice or 6.
When you can buy a POTUS, you buy a POTUS.
Elon bought them all and many of you cheer. Says more about you than Elon but speaks mountains about the core of our culture and our national ethos but mostly about how easy it is to pervert people and their false ideology with money.
Nothing to see here, no conflict of interest.
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 colo facilities in TX in their own data center, that way they can rent out space and make some extra revenue, but then they'd have to build that out.