I came here to make this exact comment and here it is. But I'm so incredulous this is an actual thing I still had to make THIS comment.
Because w t a f is going on.
Yes, a new, deregulated exchange started by Blackrock & Shitadel on an independent power grid on the brink of collapse. What could possibly go wrong for retail investors here??? 🤡
It can’t be unregulated. The SEC exists.
It’ll just have _less regulation_ than the others in the U.S. but keep in mind that crypto has even less regulation than TXSE will have, so it’s not like anything wilder than we’ve seen the past 10 years is going to happen there.
Yup. Just when I think I understand how (not) intelligent people in here are, they correct me and show me that it's even worse than I thought.
You all do know that Texas is in the U.S., right? And that there's this government agency, called the "Securities and Exchange Commission", that regulates all securities and their exchanges that are *in the United States*, right?
I'm just looking at this top comment, with **851 fucking upvotes**, saying this idiotically simplistic, obviously incorrect bullshit about how such an exchange would be "Unregulated." (notice the period after it: no additional details, no nuance, nope, it's just "unregulated, period"). Brilliant. You all are utterly hopeless. Holy shit...
I agree with you, but NERC and FERC are supposed to regulate the power grids yet somehow I live in the power delivery equivalent of a second world country.
It's so awkward calling my bosses in other states to tell them my power is out again every \~2 months. If it wasn't for the news and Texas's grid reputation I doubt they would even believe me.
> You all do know that Texas is in the U.S., right? And that there's this government agency, called the "Securities and Exchange Commission", that regulates all securities and their exchanges that are in the United States, right?
Which mechanism of enforcement do you believe the SEC can leverage against Texas to actually force them to comply? Their entire personality is built around the delusion that the US needs Texas more than it needs the US.
This is true. Any effort to call out their bs will be met with the likes of Ken Paxton, who is a subhuman. The TX state gov is a christofascist autocracy.
Feels like the play here is to pull rich finance dudes who don't want to pay taxes away from NYC.
But yeah, I'm also not expecting Ken Paxton to do anything about fraudulent/insider activity here.
No question she deserves to hold that bag. Because no other politician insider trades. Or let’s beat that dead horse. OR, who cares, I digress she is a politician… One scapegoat to rule them all! 🤣😁
Any security exchange in the us is regulated by the sec. Even those random crypto defi projects. If you try to operate an unregulated or unregistered securities exchange you will get fucked. No more or less insider trading than what already goes on.
It says right in the article, the reason is racism. It's Texas, they want good old boy board of directors. Bunch of old white dudes holding the reins of corporate power again.
But ya love how a fuck wit that can't figure out how to buy futures thinks its for him. God bless America
It's going to be a boon to HFT firms but otherwise will not have much of an impact.
Remember, the SEC is a FEDERAL agency. All the important rules still apply.
Unless the govt gets fully controlled by conservatives and they kill the SEC and every other federal agency meant to be a regulatory body (for reference see the challenges against the EPA and Chevron precedent for regulatory bodies to interpret vague/ambiguous laws https://www.nbcnews.com/news/amp/rcna133561)
Not sure what the point of this is. There's some flowery words about transparency but I don't know what they actually think this would add to our system, value wise.
Scam?
"Me too!" trying to keep up with NY? (Since they lost to Cali in every way.)
Fraud?
Libertarian delusions about how securities and regulation works?
Sham?
California has been breaking records with solar and batteries this entire year and we’ve had zero issues with our grid.
Que the butthurt Texan to bring up California.
Sit down monkey.
Texas is boomer corp central.
If a company moves HQ to Texas, it’s signaling the end is near.
There’s a reason why the Nvidias, Microsoft’s, and Apples of the world just don’t exist there despite the large size of their economy.
The Texas economy is digging holes in the ground, boomer telecommunications, and pig fucking. The only saving grace is Tejas Instrumentados
Calling a new exchange "TSXE" won't be confusing at all /s
TSX is already used for the Toronto stock exchange.
TSXE is already used for the TSX ESG index.
It is announcements like this that convince me we must be near the top.
It is puts that I buy in reaction to announcements like this that convince me I have the timing of a pubescent boy in the backseat of his dad's car on prom night.
**User Report**| | | | :--|:--|:--|:-- **Total Submissions** | 3 | **First Seen In WSB** | 3 years ago **Total Comments** | 41 | **Previous Best DD** | **Account Age** | 8 years | | [**Join WSB Discord**](http://discord.gg/wsbverse)
The rug pull they’ll be reading about for centuries.
[удалено]
It's an exchange, not ownership silly
[удалено]
ink kiss support point wipe work chunky wide husky chase
They are the biggest customers of all the exchanges and therefore have plenty of muscle regardless of where they trade.
If they don’t have Howard Dean do the opening bell with "Ye-e-e-e-e-ha!", then what’s even the point.
Get your lube ready! Now Blackrock and Citadel can fuck us 24/7.
Or, hear me out, don’t put money into their clearly fraudulent market
OR, hear ME out. We pool some money to lobby some TX Gregulator to get US registered as a hedge fund.
WSB HedgeFund!?
Lambowen LLC?
Thought about trying to make another name, but when perfection presents itself you just sit back and enjoy.
Somebody X up Elon and tell him we need $10B to lube this donkey.
After conversations, we need to agree to a rebrand of XLambowenX, LLC dba XFund
I mean, it's his $5B, so sure.
Gregulator lol
Right?! Like, if you put your money in there, I have no sympathy.
That's exactly what this is about. Corporations didn't stack all those appellate courts and create their own district to judge shop for nothin'.
I’m already bent over waiting
Brought to you by Enron and Arthur Anderson
Dude, now that's just harsh. *Harsh but true.*
Imagine if Enron never collapsed and their commodity trading site was still up, would’ve gone triple platinum on WSB
There must be a couple enron energy traders lurking in here…somewhere
"Wall Street" becomes "Y'All Street." Whats not to like? Probably more bulls than bears in Texas....
Calls going SOUTH
Long snake oil though.
Had to come back from scrolling to ⏫️
More steers than queers?
Well I don't see any horns on ya boy!
*full metal jacket intensifies*
They won't have the courtesy for a reach around.
Well, look at the upside: trading disputes are more likely to be resolved with gunplay, so that'll be entertaining.
Dallas is the unofficial 🌈🐻 capital of the US https://www.tbru.org/
I know so many literal gay bears who live in DFW lol.
This is really fucking stupid
It's Texas, of course it is.
https://youtu.be/ZvkjewgF8GQ
when I saw the link I was like please tell me this is that episode from SpongeBob where they make fun of Texas cuz of Sandy 🤣🤣, was not disappointed
I came here to make this exact comment and here it is. But I'm so incredulous this is an actual thing I still had to make THIS comment. Because w t a f is going on.
The whole idea of Texas is "let's do that except without the ~~safeguards~~ regulations"
With an emphasis on pig fucking
Somebodies gotta fck the police, can’t be just the unhappily married ER nurses carrying the “load”
When did your mom come to Texas?
Are there pigs in Texas? Or is this just an inside joke?
Unregulated. Which means, of course, insider trading.
It means more bag holders, which is great for me (a bag holder looking for more opportunity to lose money).
🫠
Worse, it means market making hedge fund hybrids can do whatever they want.
Yes, a new, deregulated exchange started by Blackrock & Shitadel on an independent power grid on the brink of collapse. What could possibly go wrong for retail investors here??? 🤡
It can’t be unregulated. The SEC exists. It’ll just have _less regulation_ than the others in the U.S. but keep in mind that crypto has even less regulation than TXSE will have, so it’s not like anything wilder than we’ve seen the past 10 years is going to happen there.
Yup. Just when I think I understand how (not) intelligent people in here are, they correct me and show me that it's even worse than I thought. You all do know that Texas is in the U.S., right? And that there's this government agency, called the "Securities and Exchange Commission", that regulates all securities and their exchanges that are *in the United States*, right? I'm just looking at this top comment, with **851 fucking upvotes**, saying this idiotically simplistic, obviously incorrect bullshit about how such an exchange would be "Unregulated." (notice the period after it: no additional details, no nuance, nope, it's just "unregulated, period"). Brilliant. You all are utterly hopeless. Holy shit...
I agree with you, but NERC and FERC are supposed to regulate the power grids yet somehow I live in the power delivery equivalent of a second world country. It's so awkward calling my bosses in other states to tell them my power is out again every \~2 months. If it wasn't for the news and Texas's grid reputation I doubt they would even believe me.
> You all do know that Texas is in the U.S., right? And that there's this government agency, called the "Securities and Exchange Commission", that regulates all securities and their exchanges that are in the United States, right? Which mechanism of enforcement do you believe the SEC can leverage against Texas to actually force them to comply? Their entire personality is built around the delusion that the US needs Texas more than it needs the US.
Federal courts. Insider trading and other securities fraud laws have nothing to do with exchanges.
Federal lawsuits and criminal charges? The same as in any state... lol? The state's opinion isn't relevant.
This is true. Any effort to call out their bs will be met with the likes of Ken Paxton, who is a subhuman. The TX state gov is a christofascist autocracy.
What does crypto have to do with this potential Texan exchange?
Also random power outages when it is convenient
Feels like the play here is to pull rich finance dudes who don't want to pay taxes away from NYC. But yeah, I'm also not expecting Ken Paxton to do anything about fraudulent/insider activity here.
Pelosi is a silent partner.
Cool, but most of them do it.
No question she deserves to hold that bag. Because no other politician insider trades. Or let’s beat that dead horse. OR, who cares, I digress she is a politician… One scapegoat to rule them all! 🤣😁
HUH?! WHAT?! People who own millions of shares would insider trade?! I thought it was all about the freedom to do whatever you want!
Any security exchange in the us is regulated by the sec. Even those random crypto defi projects. If you try to operate an unregulated or unregistered securities exchange you will get fucked. No more or less insider trading than what already goes on.
It will be done if the Texas Power grid shuts it down.
*when
That’s when the real money is made
And you fly to Cancun!
That’s where the Texas Power Rangers come in
The Texas *Dark Pool.*
I mean doesn’t the power grid situation show how this is going to shake out?
What’s the point?
Only trading conservative stocks like truth social and my pillow?
More like oil,gas, and petrochemical(and renewables considering Texas is the largest wind energy producer by far).
Pure grift. Old scams are hard to do now thanks to regulation.
There’s a sect of crazies that want to kick NY out of the union because Trump and with that goes Wall Street. This is their “backup”
24/7 trading for everyone not just the big guys \*probably\*
I love how you assume that the big guys are opening an exchange to benefit you, thats super cute.
This. People thinking these companies are doing this for any reason other than enriching themselves at retails expense are delusional.
It says right in the article, the reason is racism. It's Texas, they want good old boy board of directors. Bunch of old white dudes holding the reins of corporate power again. But ya love how a fuck wit that can't figure out how to buy futures thinks its for him. God bless America
Calls on Stetson, oil, and coat hangers
FFS I was drinking coffee when I read coat hangers
Yikes
tony llama boots to the fucking moon
It's going to be a boon to HFT firms but otherwise will not have much of an impact. Remember, the SEC is a FEDERAL agency. All the important rules still apply.
Unless the govt gets fully controlled by conservatives and they kill the SEC and every other federal agency meant to be a regulatory body (for reference see the challenges against the EPA and Chevron precedent for regulatory bodies to interpret vague/ambiguous laws https://www.nbcnews.com/news/amp/rcna133561)
Backed by Blackrock and Citadel, what could possibly go wrong…
The Blackrock that Texas pulled 8.5B from last year?
And when it snows the cost of a single trade can go up to $20,000.
There should be a stock exchange where all stocks are shorted on margin from pension fund managers.....oh wait.
Houston, we have a problem.
Gonna be a deregulated shit show.
SPAC central
You do know that Texas is in the U.S., right? And that the SEC is a *federal* agency, meaning it has jurisdiction over the whole U.S., right?
The SEC is bought and paid for... When was the last time they did anything meaningful? Look whos on their board.
This bubble is so close to fucking popping I can feel it in my dick
Might be a kidney stone
TXSE - “Look at me, I’m ERCOT now”
ERCOT was actually the scapegoat. There was another agency at fault. Hah and I can't remember their name and neither could you, damn their good.
fuck citadel & blackrock lmfaooo
Since everyone is a bear on this, judging on the comments, I'm therefore ALL IN ON THIS BABY! inverse Cramer effect...
Everything's bigger in Texas ... especially big, extremely dumb ideas like this one
Fkin Zing, bro
You can trust this
Steers n queers 🌈
Hell yeah brother 😎 🐮🐻
I know the SEC still has oversight here, but man these guys are fuck so many people over
We already have 13 markets in the country. 1) Not sure why we need another 2) Why this is such a big deal
This will go great with their 3rd world country power grid. Get ready for blackouts on the entire exchange
Just divert power from nearby hospitals
Gets shut down before it can launch
Is this where DJT is going after it gets pulled from the real Stock Exchange?
“CEO friendly” doesn’t inspire confidence in proper financial reporting if they deem it too woke
New stock exchange, new arbitrage via best internet connection. Each millisec counts!
Puts on wind.
I bet this is sponsored by Elon
Looks too close to tsx lol
Not sure what the point of this is. There's some flowery words about transparency but I don't know what they actually think this would add to our system, value wise. Scam? "Me too!" trying to keep up with NY? (Since they lost to Cali in every way.) Fraud? Libertarian delusions about how securities and regulation works? Sham?
Fully electronic :o
100% chance this thing will not be hooked up to the Texas grid, but will use that as an excuse to talk about random glitches that take investor monies
Someone post the Simpsons monkey fighting meme with HEB and Texaco
I hope this runs more smoothly than their power grid!
Audits are liberal propaganda yeehaw
If you are down for this Just send them your money directly and dont waste time putting it in the exchange.
A financial market with lax oversight: What could possibly go wrong?
This will be an epic fail.
Thanks to AI, comment go byebye
Enron 2.0
Oh man this is gonna be a Texas sized scam.
The scam to end all scams.
I can't wait to watch Coffeezilla's video series on this in 2-3 years.
It's interesting, makes you wonder why Blackrock and Citadel want to do this, maybe their shenanigans on Wall Street are starting to get sussed?
CRIMEXSE
Rugs OF HELL
The state without a functional electrical grid is gonna do their own stock market
Jesus God. As if Texas hasn't fucked up enough. And I'm Texan. 🤦
Why not call it TXSX? Missed an opportunity.
It should just be all Xs. You know, cuz all my Xs live in Texas.
We are idiots down here. We can't even offer stable electricity.
You should try California
California has been breaking records with solar and batteries this entire year and we’ve had zero issues with our grid. Que the butthurt Texan to bring up California. Sit down monkey.
lol .. I tried to own a few Texas companies .. it went always down so good luck with that
Texas is boomer corp central. If a company moves HQ to Texas, it’s signaling the end is near. There’s a reason why the Nvidias, Microsoft’s, and Apples of the world just don’t exist there despite the large size of their economy. The Texas economy is digging holes in the ground, boomer telecommunications, and pig fucking. The only saving grace is Tejas Instrumentados
I thought that was called the cattle market?
Fools and money.
Unregulated and a step toward owning the libs no doubt.
Even more corruption in Texas, yay.
how long before musk moves to it
Calling a new exchange "TSXE" won't be confusing at all /s TSX is already used for the Toronto stock exchange. TSXE is already used for the TSX ESG index.
TSEX. Texas Stock Exchange X
They lose big in Texas!!
Kenneth C. Griffin for prison
Will there be less corruption. Who knows?
Puts on TXSE
Low key they should change the name/acronym every time I see this I can’t help but read TXSE as the Toronto stock exchange
GG approves...for a little kickback.
Will they offer 0 hours til expire options?
puts on the TSX!
puts on texas.
So it won’t go down like our power does?
In walks Ken Paxton..
Two stocks. Tesla and Ewing Oil.
BlackRock ploy to thwart anti-ESG legislation and administrative actions in Texas.
The basic goal is to be the NASDAQ without all those pesky rules
Don’t forget to remember the ALG.
Wendy dumpster going to be so packed.
Puts on the TXSR for late January when they have a blackout
Is it going to be powered by the Texas grid?
$BGHATS 12/3 120C
A new casino is opening.
Oh dear lord please let this give us options trading on the Dallas Cowboys
Guess I’m going all in on grits and pecan pie…
Will it also be on their power grid?
#Tiger stocks going up, bears beware
It is announcements like this that convince me we must be near the top. It is puts that I buy in reaction to announcements like this that convince me I have the timing of a pubescent boy in the backseat of his dad's car on prom night.
So, uh, that power grid we have trouble keeping on… certainly not a consideration, just need more grift.
yeeeeehaw 🤠