alt Hacker NewsIs 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.
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Run by Blackrock & Citadel, instigated in part to circumvent DEI protections, in a State that can’t keep their power grid stable, promising less regulations for the people running it and listing their companies on it.
Simply put, this is Republicans pushing for “Y'all Street". Target one will be earnings reports, but the eventual push will be to not be overseen by the SEC in some important capacity.
Hopefully they will provide cheap market data like IEX did in its beginning.
Ah so no timing arbitrage in finding a place in Tennessee where data arrives from both places milliseconds apart and you can explore minor differences in pricing
People online like to yak about the woke nonsense.
Reality is there are tax and regulatory advantages. The courts are setup in a way that is favorable to business. They read a very strict interpretation of contracts which is good in some scenarios.
Texas politics is a train wreck, but their bureaucracy is pretty good for a business - things like permitting and other regulatory processes are faster. They also will firehouse you with incentives.
Speculation (no pun intended), but …
CEO OF Robinhood has been talking about offering crypto as a vector for acquiring shares for private companies:
https://www.sec.gov/about/crypto-task-force/written-submissi...
This admin and this new exchange would probably allow all kinds of nonsense to be publicly traded compared to other exchanges.
We’ve got three more years to go and this exchange, or anything new that happens in Texas is absolutely going to be tied with deregulatory ambitions.
I imagine as businesses move away from NY and SF, they want their stock exchange to move with them, and for similar reasons.
Yes, from https://www.txse.com/solutions:
The alignment part translates IMO to avoiding political / social science policy issues like avoiding affirmative action listing requirements like the Nasdaq Board Diversity Rules that was just recently repealed: https://corpgov.law.harvard.edu/2025/01/12/fifth-circuit-vac....So it is as one might imagine, the formation was probably for similar reasons why owners are moving their company registration out of Delaware.