Want to avoid woke stockmarket rules? List in Texas
Want to avoid woke stockmarket rules? List in Texas
“Equities in Dallas,” cried the traders in “Liar’s Poker”, an account by Michael Lewis of his life as a junior banker in the late 1980s. Demotion from New York to the backwater of Texas would be a humiliation. Who wants to sling shares to yokels?
Times may be changing. On June 4th an upstart Texas Stock Exchange (TxSE) said it had received $120m in funding from financial giants including BlackRock, a fund manager, and Citadel Securities, a marketmaker. The TxsE will, its boss wrote, be the best-capitalised challenger to the New York Stock Exchange.
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