> With that in mind, I question how a Texas based exchange will be more than a market for lemons. There is a non-trivial market for speculating on garbage. If

> With that in mind, I question how a Texas based exchange will be more than a market for lemons. There is a non-trivial market for speculating on garbage. If you're Texas, why not go for it? If you're New York, it's not worth damaging your reputation.