New Texas Stock Exchange Takes Aim at New York’s Dominance

[poopy]

Read what I wrote again. It's about payment for order flow. The hundreds of millions of dollars they are paying to brokers.

A seat on the NYSE isn't even a significant fraction of what Citadel pays for order flow.

The rest of your argument seems to degenerate into "well other people have paid for special market position before, so it's good that middle men are getting in between". That's not even really an argument.

WTF do you care at retail? You should be thanking your god for PFOF.

 

[engineering]

Which realtors do all the time. I have someone offering X, will you offer X+? The selling broker.

Not before they submit the offer to the seller.
How hard is this to get?

Let me spell it out very clearly :
"REALTORS® shall not knowingly, during or following the termination of professional relationships with their clients: 1) reveal confidential information of clients; or 2) use confidential information of clients to the disadvantage of clients; or"
https://cdn.nar.realtor/sites/defau...-nar-coe-standards-of-practice-2023-12-21.pdf

Your real estate broker is specifically not allowed to take your offer and use it tip off someone else to bid against you.

 

[2rosy]

Read what I wrote again. It's about payment for order flow. The hundreds of millions of dollars they are paying to brokers.

A seat on the NYSE isn't even a significant fraction of what Citadel pays for order flow.

The rest of your argument seems to degenerate into "well other people have paid for special market position before, so it's good that middle men are getting in between". That's not even really an argument.

your whole premise is inaccurate. there is no front running.

 

[Covertibility]

Wow, a stock exchange in Texas with that energy grid.

 

[newwurldmn]

TSLA will be the first Major company to join that exchange followed by a SpaceX IPO to really get the ball rolling away from the NYSE/Nas

It’s great news.
More competition, lower fees, and a big F.U. to woke bs and progressive shit hole NYC.

Yeah. And then many mutual funds will have to dump the stock because being listed on the Texas Stock Exchange falls outside their charter.

 

[ajacobson]

A couple of Texas-based colleagues have already been reached out to. Things seem to be happening quickly.

 

[murray t turtle]

Not before they submit the offer to the seller.
How hard is this to get?

Let me spell it out very clearly :
"REALTORS® shall not knowingly, during or following the termination of professional relationships with their clients: 1) reveal confidential information of clients; or 2) use confidential information of clients to the disadvantage of clients; or"
https://cdn.nar.realtor/sites/defau...-nar-coe-standards-of-practice-2023-12-21.pdf

Your real estate broker is specifically not allowed to take your offer and use it tip off someone else to bid against you.

%%
Good points, this maybe partly why so many made much money in illliquid Real Estate+ paid 5-10% commission$
I dont care if SCHW gets payment for order flow[last i looked they do];
because they give me great limit + market exits mostly LOL, on multimillion average day volume ETFs.

 

[schizo]

Better idea would be to create competition to CME/CBOT/ICE.

I have enough of their BS fee policies.

+1

 

[schizo]

Citadel is the last thing I would want involved in a new exchange.
Someone who currently uses their special position in the market to milk money out of regular people (payment for order flow) is now building an exchange? No thanks.

Plus isn't BlackRock the chief architect of ESG? So how is that really any different from...?

 

[murray t turtle]

Plus isn't BlackRock the chief architect of ESG? So how is that really any different from...?

%%
They were , market may have flushed that mess out of them LOL??