TXSE is a listings play more than anything. This means NYSE is going to beat them to the punch, at least in concept. Means TXSE is going to have to work much harder for listings business.
From a functional standpoint, absolutely no difference. There is an extremely high probability NYSE TX remains in Mahwah (where the current NYSE Chicago platform is; it’s really just a rebranding). TXSE has already said they’re going to put their systems in Secaucus with “everyone not NYSE or NASDAQ”.
I wish one of these venues would have the conviction to put their whole kit in Dallas, or somewhere else in TX, but the industry would throw a fit because of what it would mean for the cost to access the market.
From a functional standpoint, absolutely no difference. There is an extremely high probability NYSE TX remains in Mahwah (where the current NYSE Chicago platform is; it’s really just a rebranding). TXSE has already said they’re going to put their systems in Secaucus with “everyone not NYSE or NASDAQ”.
I wish one of these venues would have the conviction to put their whole kit in Dallas, or somewhere else in TX, but the industry would throw a fit because of what it would mean for the cost to access the market.