Corporate issuers and exchange-traded product sponsors are demanding more stability and predictability around listing standards and associated costs, TXSE said.
The Texas stock exchange aims to attract listings of exchange-traded products and challenge increasing compliance costs at the Nasdaq and the NYSE, as well as newer rules including setting targets for board diversity at the Nasdaq, as per a report from the Wall Street Journal on Tuesday.
I don't understand how stock exchanges come into existence. Presumably you can't create one willy nilly because there are so few. But maybe that's just a network effect thing. Yeehaw?
I guess as the single largest holder of public shares this is just Blackrock vertically integrating.
Is this a step towards or away from Texas independence?
When I see a headline like that I think of Texas independence. Why to companies relocate to other countries. Why do they move to different states? There are always reasons. Texas to me is the most obvious candidate to become independent from the US. It won't happen overnight. It will be many steps and before you know it... its done.
exactly, which is why we are building everything around community in texas, esp around bitcoin, personally not stopping till hyperbitcoinization and it starts with your town/city/state/country/world
The allure of Texas has reached even multinational corporations: Tesla and SpaceX. Musk has reportedly asked shareholders of the automaker to support a proposal to move the company's corporate charter from Delaware to the state. Earlier this year, Musk revealed that the transfer of SpaceX to Texas was also underway.
💯 toward
That's what I wanted to hear!
Giddy Up!
In the same way that index funds exert a foundational and self-reinforcing bias into the system, presumably exchanges do the same? So even a smallish one could have big effects. Sadly, I don't know what they would be.
do they?
See e.g.
I've been reading more about the topic and entering a market composed of 16 stock exchanges will not be an easy task for TXSE. The trading volumes between the various exchanges in the US are very distinct: since the beginning of the century, Nasdaq and NYSE have been leading the race, representing 15% and 20% of the trades, according to Bloomberg - as a "duopoly".
Other "regional" stock exchanges, such as Boston, Philadelphia, and Chicago, ended up merging with the two industry giants, this because they were unable to attract traders.
What benefits does choosing a local exchange bring to companies? In addition to tax relief, they typically offer incentives such as billboard marketing in the iconic Times Square or ringing the opening bell. Once registered, the company generates a constant profit for the exchange - unless it switches to a rival.
I assume they will be looking to set up in PlebLab?
lol Yeah Larry is renting the hot desk outside my office.
Watch that guy. Don't be leaving your wallet out on the desk.
he could apply when we launch PlebLab Dallas
This doesn’t sound like it is going to be built on ethereum like all the ETH influencers keep trying to convince me.
They can't spread liquidity too thinly.
How so?
Will they tokenise anything to run it on solana with 50% down time?
To me the most interesting thing is that they are going to locate in Texas.