Comment by wavemode
2 hours ago
A stock exchange is nothing more than a marketplace. Anyone can start their own (the challenge being, getting a bunch of companies to want to list their stock with you).
That freedom is actually why it's hard to create a Bloomberg competitor - in order to provide their data stream, Bloomberg has to have partnerships with hundreds of companies worldwide who run exchanges for stocks, bonds and other instruments. If exchanges were government-controlled rather than free-market, there would be more centralization and getting the data together would be easier.
> A stock exchange is nothing more than a marketplace. Anyone can start their own (the challenge being, getting a bunch of companies to want to list their stock with you).
Not really true. I can't just start a stock exchange. I need to comply with a bazillion regulations. Then I need a license, which I won't get.
As much as the crypto space is disliked, it also showed what happens when regulation isn't stopping you. Exchanges would pop up and anyone could create one. You didn't have to be already wealthy, a spin off from a hedge fund, a connected family, a connected person. You could just do it, and if it was good enough, people would trade on your venue.
Then, probably correctly, regulation came, and now that is all gone. The little person can't do that any longer, it is now reserved for the elites again.