Has a bill ever even existed to pass in Illinois? This idea seems to be brought up more as a scare tactic from the trading and business community than as a revenue generator from actual politicians.
Most of Ken Griffin’s work has been buying his family name on things and repeating anxieties about crime and (lack of) policing without actually providing solutions or even calling out root causes. But again, he’s not really a citizen of Chicago, nor the US. People at his level of control (his admitted price fixing, or moving trades to dark pools) have inherited and expanded on wealth to the point where they don’t need friends or social programs or infrastructure to live out 90 years on the planet.
If I were TXSE, what I'd be arguing is that the new market would have a benefit for new companies. Can you list faster with fewer requirements? Will there be capital available on the market? Can an IPO on their market be a replacement for later stage VC?
These are the companies they'd want to recruit.
It puts people in positions of authority based on their ethnicity, biological sex, and sexual orientation and therefore discriminates against others based on their ethnicity, biological sex, and sexual orientation.
I understand the desire for a different marketplace. But no matter where it is, they’ll still have to follow Federal securities laws, which will require some level of red tape.
Many of those companies are national or multi-national companies. For example, Exxon has its headquarters outside of Houston, but is actually incorporated in New Jersey (According to Wikipedia). So, for them, what would the benefit be?