Amid the LTSE buzz today, I want to bring up an insightful article from @aosipovich on just how hard it is to break into the exchange business.
More thoughts below:
https://www.wsj.com/amp/articles/iex-exchange-to-exit-listings-business-11569205413 …
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My point is that while competition is a good thing and this time may be different, by personal bet is that LTSE will have an extremely tough time getting traction, if it's even possible. IEX, a sophisticated team with a Michael Lewis novel at its back, couldn't do it.
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