There is no need for a long-term stock exchange. If you want to encourage long-term investing, "all you need to do" is change investment taxation. Equities he

There is no need for a long-term stock exchange. If you want to encourage long-term investing, "all you need to do" is change investment taxation. Equities held for less than a minute? 100% tax. A year? 20%, like the US today. Five or ten years? Zero. Boom, HFT gone, and a sudden rise in long-term investing. But the devil's in the details, in this case the length and shape of the curve.