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Originally Posted by urbanpln
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I'm conflicted as there's multiple angles. It is not easy at all to do this from a tech, ops, etc perspective but it's possible. Even if it'll take multiple years if they truly want to do it from scratch. Not even talking about getting all the regulatory approvals.
Then there's getting enough companies off of NYSE and NASDAQ to go there. And there has to be a reason other than "fuck NYC/these liberal places!!" If you arent getting companies to list there instead then whatever. There's a reason why most other stock exchanges in the US are small and the vast majority of people have never heard of them.
And maybe they'll go for something more unique, who knows. But again I think the amount of ops and tech to pull it off is at most equal to the amount of other shit that needs ro be pulled off to make it successful.
Texas doesn't even have an advantage in terms of location to pull off for example what CBOE can when there are prop trading firms which consider even 3ms extra lag a huge deal. So if they aren't doing that and catering to normal stocks, then sure they could have all new tech but the amount of time to get this thing operational means that NYSE will probably just beat them at their own game by offering something similar from a modernized perspective.
This basically just seems like a "if you build it they will come" scenario but I'm not sure "they will come" enough to make this thing matter. It just seems like a few.billionaires' dream to make Texas a new Wall Street but not considering that making it happen is way more than just spending 2 or 3 years on new tech. I think that's probably the easiest part.