eries

14 ms·

271.
by eries 6y ago
Exchanges don't hold your shares, so once you have them in a custodian account you can do whatever you want with them, regardless of what exchange you acquired them from.
272.
by eries 6y ago
If the reforms are embodied in the company's charter, they will follow the shares wherever they are traded
273.
by eries 6y ago
if a company's executives feel like gaining outperformance by doing extra work isn't a good deal, maybe don't invest in that company? I'm not an expert, but I do play one on TV sometimes
274.
by eries 6y ago
good idea
275.
by eries 6y ago
Today's announcement doesn't pertain to listings, so 1) is a ways off still You can do 2) through your existing broker, so long as they are a member of the LTSE, which they likely already are. You can check their membership status
276.
by eries 6y ago
Thank you!
277.
by eries 6y ago
There are many ways to address volatility, and - more importantly - the corporate dysfunctions that volatility can enable. We are working on research that will show that the reforms we advocate with are linked to lower volatility. In terms
278.
by eries 6y ago
CBOE maintains an exchange trading "market share" page, that's what I linked above. It shows the number of transactions that cleared today via code "L" on the SIP. That's LTSE.
279.
by eries 6y ago
correct to find out if your preferred broker or market maker is a member of LTSE, you can ask FINRA: https://brokercheck.finra.org/
280.
by eries 6y ago
We don't allow companies to list if all they have are vague plans. Each policy requires companies to make structural, externally-verifiable commitments.
281.
by eries 6y ago
Correct. There is no need for you to transact on LTSE for the specific use cases you've outlined in this thread. We are open for business so, for the first time, you're able to if you want to.
282.
by eries 6y ago
We have indeed seen quite a bit of resistance, as you say. I kind of think of it as carving the grand canyon with water and gravity. With sufficient time, determination, and patience, you can make remarkable things happen. We've been a
283.
by eries 6y ago
I'm as curious as you are to see what happens next...
284.
by eries 6y ago
Probably. I'd love it if someone would build this and get companies and investors to take it seriously.
285.
by eries 6y ago
Agreed. our standards require this
286.
by eries 6y ago
No, we do not restrict liquidity in any way. We simply believe that companies should be able to engage with "speculators" as you call them differently from long-term investors. Ultimately volatility isn't a problem in itself
287.
by eries 6y ago
Today's announcement is about our ability to trade all US exchange-listed securities. It's not about listing our own equities. This is what it means to be a National Securities Exchange in the US. So if you want to trade any US ex
288.
by eries 6y ago
As with everything, there is a delicate balance to be maintained. Toyota is an interesting example from the Japanese context. Luckily (?) things are today so out of whack that I don't think we have to worry about overcorrecting - for n
289.
by eries 6y ago
Everything we do is completely transparent. If a company deliberately violates the policies they have publicly adopted, not only would they be delisted they would likely be committing securities fraud. I think it's likely you'd he
290.
by eries 6y ago
https://www.sec.gov/rules/sro/ltse/2019/34-86327.pdf
291.
by eries 6y ago
There's a lot of literature on this topic, and many empirical studies that call these assumptions into question. Just picking one at random from the set I've seen recently: https://www.ey.com/Publication/vwLUA
292.
by eries 6y ago
Companies care about many things other than mere multiples. And there are many factors that influence multiples. So I think it's accurate to say that companies consider many factors when deciding where and how to list.
293.
by eries 6y ago
I don't know if this is as true as you think. First of all, I've been laughed out of a lot of rooms for pitching this idea. Hundreds, by now. Further, although many VC's are indeed herd animals as you seem to suggest, there a
294.
by eries 6y ago
I see this criticism a lot in the various threads, but I don't really understand it. As a stock exchange, we are strictly regulated. We aren't allowed to make vague claims that are not backed up by regulatory filings, all of which
295.
by eries 6y ago
Quarterly reporting is an SEC requirement, so we don't affect that. We do require certain additional reports be filed on an annual basis. Companies prove their long term by adopting policies responsible to our long-term principles. The
296.
by eries 6y ago
Every broker has its own internal rules about where to direct its order flow. Some "internalize" the trade and don't send it anywhere. Others get paid to direct the order to a specific market maker, exchange, or dark pool (ca
297.
by eries 6y ago
I don't understand this criticism. We are actively trading stocks today: https://markets.cboe.com/us/equities/market_share/ You can call your broker right now and ask them to direct your orders to a spec
298.
by eries 6y ago
Same as any other exchange. The new entity will either have to meet the listing standards or be de-listed.
299.
by eries 6y ago
Good point: https://markets.cboe.com/us/equities/market_share/
300.
by eries 6y ago
Sure. I don't have an objection to short-term investors, even the long-term investors like having them around to provide liquidity. But I don't think an investor who has an average equity holding period of 10 minutes should be inv

More ›