Greg Abbott trying to lure CME out of Chicago

[ETJ]

The Republican leader said he's spoken to CME Group Inc., the world's largest futures exchange, about relocating to the Lone Star State. CME and other Chicago-based trading firms have complained about a pickup in violent crime since the pandemic as well as potential tax increases floated by the mayor.1 hour ago

 

[NoahA]

I wonder how much the markets would change if all of a sudden, every HFT firm that is within a mile of the CME all of a sudden didn't have the distance advantage. What would it do to price action if these firms lost their edge until they could re-locate closer?

 

[ZBZB]

The servers are only moving if the state introduce a transaction tax. If they don’t then the headquarters may move.

 

[vanzandt]

What would it do to price action if these firms lost their edge until they could re-locate closer?

I doubt it would do anything that we'd ever notice.

 

[destriero]

I doubt it would do anything that we'd ever notice.

Referring to algo/HFT firms like Jump, etc.

 

[MarkBrown]

wonder who is behind this

 

[tiddlywinks]

CME relocation rumors have been going on for YEARS!!

Here's a blurb from 2011...
https://www.tampabay.com/archive/20...e-parent-now-says-its-hq-may-be-up-for-grabs/

Don't hold your breath for anything to happen soon.

 

[2rosy]

I wonder how much the markets would change if all of a sudden, every HFT firm that is within a mile of the CME all of a sudden didn't have the distance advantage. What would it do to price action if these firms lost their edge until they could re-locate closer?

specifically a mile within the CME data center. Which is in aurora, il. Changes made would be new network towers popping up, property purchases for the towers, property removal if in direct line of sight, ...

 

[RedDuke]

Did he tell Duffy that his state has electricity issues and its own grid

 

[Frederick Foresight]

Did he tell Duffy that his state has electricity issues and its own grid

There are workarounds.