New national stock exchange in Texas backed by Citadel and BlackRock

[ナルゴ]

https://www.cnbc.com/2024/06/05/citadel-blackrock-back-project-to-start-national-stock-exchange-in-texas.html

BlackRock and Citadel Securities are among investors backing a group seeking to start a new national stock exchange in Texas.

TXSE Chairman and CEO James Lee said the Dallas-headquartered group has raised $120 million with the support of more than two dozen investors.

“Texas’s booming economy and the strong economic and population growth among states in the southeast quadrant of the U.S. present incredible opportunities for businesses — and ultimately the Texas Stock Exchange,” TXSE CEO James Lee said on LinkedIn.

The Wall Street Journal reported on the endeavor earlier, saying the exchange is billing itself as a “more-CEO friendly” alternative to the New York Stock Exchange and Nasdaq in the face of rising regulation and a “disaffection with increasing compliance costs.”

New York's over-regulation and animosity towards big business is biting it in it's tushy once again. Like when it lost its opportunity to host Amazon HQ2.
New york government is incompetent and inefficient. Justice is too political. Taxes are too high. Why stick around indeed.

I also suspect that they want to be geographically closer to Mexico (new economic zone), where new developments and investments are going in lieu of China.
Also I didn't know this, but apparently Texas is the state that hosts the most fortune 500 companies now.

Can't wait to buy stocks on TXSE

[Kiryn]

Well that's certainly a new idea for a grift. I look forward to seeing how long it takes for all the "true patriots" to lose their life savings.

[Morkonan]

Whenever some financial group complains about over-regulation, they're trying to do something bad...

So, this will be like a Crypto Exchange and end up a financial dumpster-fire. I can't wait for the headlines!

How is Texas going to keep that exchange running when they have no electricity, tho?

[secuda]

Buy stonks.

[Hobbit XIII]

What would the benefits be to do business with the Texas Stock Exchange ?

[Utiviroo]

Seems like the general TX strategy, one foot in, one foot out. They have been threatening to leave the union since the day they joined it.

Ultimately they'd prefer to run the whole union, they always had big ambitions, just never had the support to see the dream manifest, er destiny.

I'd say this is probably attempt #74261029 to do just that, most of the plans don't get to implementation stage.

Time for some good hornswoggling.

The guess would be, you get better access to policy makers in TX, NY is already locked up in that regard. It is a money/politics power shift/trip thing. Usually they not so brazen about such things.

Billionaires move around a lot. Its about that I think.

[MinionJoe]

Just sounds like Blackrock is willing to play both sides of the civil war.

[Sir Seanicus, Esq.]

Yuck!

[ナルゴ]

Related
https://www.reuters.com/markets/us/full-us-appeals-court-reconsider-nasdaq-board-diversity-rule-2024-02-20/

The rule approved by the U.S. Securities and Exchange Commission (SEC) in August 2021 requires companies listed on the exchange to have one director who identifies as female, a member of an underrepresented racial or ethnic minority, or LGBTQ+, or explain why they do not.

Companies would generally need two diverse directors to satisfy the rule by 2026.

NASDAQ is requiring a ridiculous anti-meritocratic diversity quota for company board members. What happened to best person for the job?

[Voroff]

Αναρτήθηκε αρχικά από Nargo:

one director who identifies as female, a member of an underrepresented racial or ethnic minority, or LGBTQ+, or explain why they do not.

Did i just read "explain why you're not a female or a non-caucasian" ?


.....


.....



BWHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

[talemore]

Division and destruction

[Hobbit XIII]

Αναρτήθηκε αρχικά από Nargo:

Related
https://www.reuters.com/markets/us/full-us-appeals-court-reconsider-nasdaq-board-diversity-rule-2024-02-20/

The rule approved by the U.S. Securities and Exchange Commission (SEC) in August 2021 requires companies listed on the exchange to have one director who identifies as female, a member of an underrepresented racial or ethnic minority, or LGBTQ+, or explain why they do not.

Companies would generally need two diverse directors to satisfy the rule by 2026.

NASDAQ is requiring a ridiculous anti-meritocratic diversity quota for company board members. What happened to best person for the job?
:lunar2019crylaughingpig:

what a crock o ♥♥♥♥.

I'd put money into Texas on principle, I want competence not tick this commie box.

[Original Cast Recording]

Αναρτήθηκε αρχικά από Nargo:

...
Also I didn't know this, but apparently Texas is the state that hosts the most fortune 500 companies now.

Can't wait to buy stocks on TXSE

Maybe Texas is luring all the money in, so they can turn into New York themselves in about 20 years.

Αναρτήθηκε αρχικά από Utiviroo:

Seems like the general TX strategy, one foot in, one foot out. They have been threatening to leave the union since the day they joined it.

Within the breadth of American Exceptionalism there exists the particular Texan Exceptionalism (among others).

[Hobbit XIII]

Αναρτήθηκε αρχικά από NoMoreUnderscores():

Αναρτήθηκε αρχικά από Nargo:

...
Also I didn't know this, but apparently Texas is the state that hosts the most fortune 500 companies now.

Can't wait to buy stocks on TXSE

Maybe Texas is luring all the money in, so they can turn into New York themselves in about 20 years.

Αναρτήθηκε αρχικά από Utiviroo:

Seems like the general TX strategy, one foot in, one foot out. They have been threatening to leave the union since the day they joined it.

Within the breadth of American Exceptionalism there exists the particular Texan Exceptionalism (among others).

Like, unless you got a daddy sister wife, you cannot join the board of directors?

[Original Cast Recording]

Αναρτήθηκε αρχικά από Hobbit XIII:

Αναρτήθηκε αρχικά από NoMoreUnderscores():

Maybe Texas is luring all the money in, so they can turn into New York themselves in about 20 years.



Within the breadth of American Exceptionalism there exists the particular Texan Exceptionalism (among others).

Like, unless you got a daddy sister wife, you cannot join the board of directors?

We don't need any inbreeding jokes from you monarchists, thanks.

[xDDD]

Texas is the hot new place to be, New York is a washed-up hellhole.