SEC Approves Texas Stock Exchange

[DEAD7]

SEC Approves Texas Stock Exchange​

Exchange-traded products are financial instruments that follow the performance of underlying assets such as stocks, indexes or other financial benchmarks. Like stocks, ETPs are traded on public exchanges, allowing investors to buy and sell them throughout the trading day at market prices that fluctuate in real time.

TXSE was backed by wealth management giant BlackRock and market maker Citadel Securities, among other firms. The Texas company said in June 2024 that it raised a total of $120 million from more than two dozen investors. TXSE's headquarters in Dallas opened this spring, the group said.

 

[Secure Da Bag]

@DEAD7 I don't know anything about this. Can you tell us why this is good or at least why would anyone create this (ie. what's the point)?

 

[Wargames]

@DEAD7 I don't know anything about this. Can you tell us why this is good or at least why would anyone create this (ie. what's the point)?

I can't speak for the official reason but I thought it was because they wanted to divest from the NY market because they don't want to invest with companies that operate there.

The bigger rumor is some of those companies want to leave the city and go to Texas for less taxes.

Keep in mind as someone who visits Texas regularly, its a tougher (aka shytty) living experience compared to NYC in general and I don't think the NY types are built for it, like a lot of the California types weren't.

 

[DEAD7]

@DEAD7 I don't know anything about this. Can you tell us why this is good or at least why would anyone create this (ie. what's the point)?

Texas made an SEC exchange to establish a fully integrated national securities exchange that could compete with the NYSE and Nasdaq. The TXSE aims to reduce the burden of going and staying public while maintaining high quantitative standards. Texas's initiative is part of a broader strategy to create a business-friendly regulatory environment and attract non-Texas companies to list on Texas-based exchanges. The TXSE's approval is a significant step in Texas's efforts to become a premier destination for corporate headquarters and financial infrastructure.

 

[Wargames]

Texas made an SEC exchange to establish a fully integrated national securities exchange that could compete with the NYSE and Nasdaq. The TXSE aims to reduce the burden of going and staying public while maintaining high quantitative standards. Texas's initiative is part of a broader strategy to create a business-friendly regulatory environment and attract non-Texas companies to list on Texas-based exchanges. The TXSE's approval is a significant step in Texas's efforts to become a premier destination for corporate headquarters and financial infrastructure.

This is the official press release version of saying exactly what I said.



I just think the issue is the same Texas had with people moving there from California, though I would argue it would be an even bigger culture shock for people from NYC to move to Texas, than it was for people from California moving to Texas.

 

[Secure Da Bag]

Ah I see. I wonder what burdens are actually being reduced. And can they still maintain high quantitative standards when they do.

 

[Json]

This is the official press release version of saying exactly what I said.



I just think the issue is the same Texas had with people moving there from California, though I would argue it would be an even bigger culture shock for people from NYC to move to Texas, than it was for people from California moving to Texas.

Plus the native Texans complaining out these Northerners changing things

 

[mastermind]

Keep in mind as someone who visits Texas regularly, its a tougher (aka shytty) living experience compared to NYC in general and I don't think the NY types are built for it, like a lot of the California types weren't.

They are not. All the amenities they enjoy in NYC, they will not get down here.

Also, it’s not as cheap to live in this state as they think.

 

[Hood Critic]

Ah I see. I wonder what burdens are actually being reduced. And can they still maintain high quantitative standards when they do.

They're looking for a lot less regulation.

 

[Wargames]

They're looking for a lot less regulation.

So they trying to be a penny stock exchange…..

Seriously though somebody is going to scam the shyt out of people on that exchange.

 

[The Bilingual Gringo]

So they trying to be a penny stock exchange…..

Seriously though somebody is going to scam the shyt out of people on that exchange.

This was my thought, it’s either scammy or crony capitalism.

 

[Wargames]

This was my thought, it’s either scammy or crony capitalism.

Sounds very Texan…..

 

[Hood Critic]

So they trying to be a penny stock exchange…..

Seriously though somebody is going to scam the shyt out of people on that exchange.

I would be weary of an 'exchange' of any kind owned purely by private equity - especially Black Rock.

I suspect we'll see private prisons and defense contractors first but I'll be interested to see if any of the major TX energy companies get on board.

 

[Wargames]

I would be weary of an 'exchange' of any kind owned purely by private equity - especially Black Rock.

I suspect we'll see private prisons and defense contractors first but I'll be interested to see if any of the major TX energy companies get on board.

So slavery and mercenary work….. sound like Texas