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.
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.
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.
I think the ‘Texas’ part in the TXSE is mainly from a business procurement pov. They’re hoping to capitalize on the recent growth in the area, which is possibly ripe for a lot of new listings. The actual electronic trading might still originate in NJ.
I don’t believe they’ll have a floor. I think they are going the NASDAQ route, unless I’m confusing them with Long Term Stock Exchange (I was researching both around the same time).
Take the above with a heap of salt. It’s part my intuition and part things I might have read on the internet (including their corporate site).
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).
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:
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.
In this case it's a marketing ploy for the state of Texas and also a way for Schwab, citadel, blackrock and fortress to press their finger on the balance of power which is far tilted towards the ICE.
Also note Schwab is headquartered in Texas and they account for a significant percentage of trading in the US on a daily basis.
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"?
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.
> 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.
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
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[ 8.8 ms ] story [ 61.6 ms ] threadDoes this actually mean something specific?
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.
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.
I don’t believe they’ll have a floor. I think they are going the NASDAQ route, unless I’m confusing them with Long Term Stock Exchange (I was researching both around the same time).
Take the above with a heap of salt. It’s part my intuition and part things I might have read on the internet (including their corporate site).
https://www.nyse.com/markets/nyse-texas
https://sniperinmahwah.wordpress.com/
I'll obviously google it now but I'd appreciate some insight.
Also note Schwab is headquartered in Texas and they account for a significant percentage of trading in the US on a daily basis.
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.
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.
otherwise there is one more trouble for me.