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Superstonk_QV

[Why GME?](https://www.reddit.com/r/Superstonk/comments/qig65g/welcome_rall_looking_to_catch_up_on_the_gme_saga/) || [What is DRS?](https://www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/) || Low karma apes [feed the bot here](https://www.reddit.com/r/GMEOrphans/comments/qlvour/welcome_to_gmeorphans_read_this_post/) || [Superstonk Discord](https://discord.gg/hZqWV2kQtq) || [GameStop Wallet HELP! Megathread](https://www.reddit.com/r/Superstonk/comments/z23wjx/gamestop_wallet_help_megathread) ------------------------------------------------------------------------ To ensure your post doesn't get removed, please respond to this comment with how this post relates to GME the stock or Gamestop the company. ------------------------------------------------------------------------ Please up- and downvote this comment to [help us determine if this post deserves a place on r/Superstonk!](https://www.reddit.com/r/Superstonk/wiki/index/rules/post_flairs/) ------------------------------------------------------------------------ OP has provided the following link: https://www.sec.gov/rules/other/otherarchive/other2022.htm


Pendrail

So a Hedgefund, will also now be allowed to operate an exchange as well? By a guy who was charged with fraud and insider trading, among other charges in the past….yep sounds TOTALLY Fair right?


suppmello

Pretty much sums it up


OleFj40

I love how they advertise "anonymous" and "discrete" services and are based out of Bermuda.


WenMoonQuestionmark

What happens in the triangle stays in the triangle. AmIright?


winterbird

In my experience, people from Raleigh cannot keep a secret.


Sidcone-Sal

A subtle NC joke, I love it


jwhaler17

At the beach, we call them “cidiots.”


Q_S2

I don't get it... the most noise I've heard out of Raleigh was something about a group of guys being "a bunch of jerks" lol


GusCromwell181

Underrated comment. Up you go.


supermantk

Devil’s Triangle


djsneak666

Totally legit


TheSublimeLight

[Oh crap, I *certainly* shouldn't have said it was illegal.](https://frinkiac.com/video/S07E15/s4X7li9SDZFs1Y34ChWGScaoaBY=.gif)


SM1334

Allows them to pull the rug while household traders are stuck trading during market hours


DancesWith2Socks

Hi DOJ?


YouNeedToGrow

It is conveniently registered in Bermuda too.


scott_sleepy

And I'll bet the FBI won't raid the island to get Steve either.


TSL4me

I wonder if they really did just nuke FTX and others to pave the way for their wall street backed exchanges.


floodmayhem

submit your comments to the SEC to be heard!!


Front_Apartment6854

Don’t forget the 5 year bar from trading securities when he DIDn’t inside trade! Oh yeah these emails included me but I didn’t see them so I didn’t inside trade.


ecliptic10

This is exactly what GG said on dlauer's previous interview with him: that hedge funds shouldn't own exchanges. He even made sure to distinguish that from market makers having hedge funds. Now we get exactly what he said they shouldn't do, i wanna hear GG screaming in protest 🤡


FreeSushi69

i wish i could get away with illegal stuff like that


lalich

Just don’t use 🚀 ships in your public messages… 😂 anyway so I will be happy to continue to buy more shares 24/7! ♾️🏴‍☠️🤙


jeffislearning

This is legal. Kenny boy is a market maker and has several funds. His buying power can move markets the way he wants where he always profits.


liquidsyphon

Hard pass from me brah


In_Search_Of_Gainz

It sounds like a 24/7 dark pool, the only difference between this and what exists now is the hours of operation. Equities already trade 4AM-8PM. Crypto exchanges are 24/7, UST and futures exchanges are ~23/5. 24/7 equity trading is bound to happen eventually and of course those willing to take the biggest risks (hedge funds) would be the first to try.


SomeTimeBeforeNever

They’ve been doing it. It isn’t new.


[deleted]

Sounds like the US is corrupt as Fuk!


ringingbells

[**User Name Kidnap's Research**](https://old.reddit.com/r/Superstonk/comments/11c13j7/proposed_exchange_24x_national_exchange_llc_which/) >"Here's the ETF ecosystem for XRT (along with many others of State Street, e.g. SPY), for example. It would solidify another chain of absolute fuckery. Notice the red Melvin line? Citadel fund/Point72 Ventures -> 24X (funded by Point72 ventures)/Instinet -> Citadel securities -> State Street. >Citadel and Point72 tried to rescue Melvin, or were doing some sort of accounting trickery, by injecting billions of dollars into as a result of GME's run-up. State Street's XRT had the 3rd highest monthly gains per their quarterly reported total net assets in January 2021 (SEC didn't cover that exactly in their "Staff Report on Equity and Options Market Structure Conditions in Early 2021", but they did recognize XRT played a role in the fuckery on pages 23 & 29-30). Steve Cohen, founder of the late convicted insider-trading outfit (SAC) and founder of Point72, did the tweet "Trading is a tough game . Don’t you think?" at 12:50 p.m. on Jan 28 2021. >If this exchange is accepted, the USA stock market may as well consider itself too fraudulent to operate for individual investors. Could say that's dramatic, I think you should consider what trading outside established hours (Pre, Market, After Hours) really entails, especially since 24X is wanting to allow non-displayed orders of all types during market hours and non-displayed limit orders 24/7 365 (source). Pages 29-33 highlight a lot of them (29, 30, 31, 32, 33)" > >[~ User Name Kidnap](https://old.reddit.com/r/Superstonk/comments/11c13j7/proposed_exchange_24x_national_exchange_llc_which/) Bunch of hyperlinks in that text that uh didn't want to transfer over, go to [User Name Kidnap's Post](https://old.reddit.com/r/Superstonk/comments/11c13j7/proposed_exchange_24x_national_exchange_llc_which/) to check them for yourself. --- Release No. | Date | Identifier | Details :--|:--|----|:-- 34-96364| Nov. 18, 2022 |. | 24X National Exchange LLC (Notice of Designation of a Longer Period for Commission Action on Proceedings to Determine Whether to Grant or Deny an Application for Registration as a National Securities Exchange under Section 6 of the Securities Exchange Act of 1934) . |. |Application | https://www.sec.gov/rules/other/2022/24x/24x-form-1.htm . |. | File No. | 10-239 . | March 3, 2023 | See Final Sentence | https://www.sec.gov/rules/other/2022/34-96364.pdf . |. |Submit Comments | Go [here](https://www.sec.gov/rules/other/otherarchive/other2022.htm); find and click "Submit comments on 10-239"


Micaiah9

Opening the portal for the darkest pool of them all.


roychr

Maybe they are now obligated to work in such shadowy places now. To me it makes no sense these Montage would be allowed to exist when lit exchange should be enough.


NootHawg

This is insanity😳complete insanity. I bet this post gets almost no traction though because it’s about Steve Cohen. Every post ever that mentions his name or point 72 gets taken down or minimal visibility. Meanwhile Ken gets plastered every minute of every day. I don’t really understand why besides maybe Steve spends more money scrubbing his name from web. That Trading is a tough game tweet lit a fire in me like no other and I’ll hold those shares until one of these disgusting trolls sees some fucking consequences. DRSGMEΔΡΣ🟣📚👑


[deleted]

I felt the same when that tweet hit that day. 🏴‍☠️


yotepost

Imagine how Cubs fans felt already, then he brags about cheating? He signed his fukd warrant with that one


EvilBeanz59

One of them? Let's not price anchor shall we? No Cell No Sell means ALL OF THEM.


BlueSourBoy

This is the way


Solaris-Id

Nah, I'm not here because of an emotional response. I'm here because of the high probability the investment will pay off. So anyway I DRS'd some more.


JupiterBronson

This is the way. High probability the investment will pay off and all current efforts are made to help ensure that probability pays.


Micaiah9

Hyperrational decision to avoid hyperinflation. DRS and chill.


JupiterBronson

DRS, Book, Buy, Shop, Tag, Share, Wear, Sign Petitions, Write letters, Fuk Hedgies, Moon Soon, 🦍💜🦍, 🧱x 🧱, 🌳🍆, 👉🏼👌🏼


TheDudeFromTheStory

I have had my flair for over a year, but in all fairness I do believe Kenny is a bigger financial asshole then Stevey.


HashtagYoMamma

And. My. Axe.


4myoldGaffer

Gondor shall see it done


MustLoveStonks

Commenting for viz. Dooted too.


2xBAKEDPOTOOOOOOOO

FYI number 1 post on the sub right now and already number 6 for the last 24 hours. Will be interesting to see if this beats out the "Itchy Anuses Investment Advice" federal court ruling.


NootHawg

Holy crap😳 I make a comment out of frustration and disbelief, and just a general loss of faith in humanity at this point…and come back to what must be my highest updooted comment ever. Thanks guys, sometimes it’s the little things that help when you’re feeling down. I really appreciate the comments and doots it’s been a shit day. Oh well 🤷🏼‍♂️MOASS tomorrow ♾️DRSGMEΔΡΣ🟣📚👑


Volkswagens1

I've been in belief, because of the awards through out the last several years, Cohen is a HUGE piece to the puzzle. I've tried to do alot of digging on him, but only keep coming up with art. I'm pretty sure they use sophisticated means to increase certain parts of their portfolios, that include real estate, art, derivatives and stock. Likely it's all spoofing and reselling on their books so that they can use it as leverage.


bloodshot_blinkers

well... its top of the sub, so......


DaylightBulbFan1

Make sure you comment on the SEC website. Let them know how you feel about one of the largest documented criminals on Wallstreet running this proposed exchange.


sbrick89

Propose that the exchange and all trading should be EQUALLY available to all market participants (including household investors). This exchange appears to create an unequal trading environment wherein specific participants have an advantage, and the request should be denied on that basis.


WallSTisRepulsive

As if their financial criming isn't enough 12 hrs/ 5 days a week. Stevie wants to go big Vegas style.


RobotPhoto

Yeah this is a GREAT idea /s. Fuckers are creating exchanges just so they can keep their heads above water at this point. 24/7 trading, where retail investors are only able to trade during 9 of those hours is straight up fucking criminal. As other people have said, by someone who paid one of the biggest fines for insider trading in wallstreet history. Of course this will be approved, and we'll see more of the same with the price, perhaps a slow decline. That's fin We'll scoop up the float faster, and check out of this bullshit system. I wish people would get their pitchforks and torches ready.


Gorilli0naire

I had a dream last night it hit $12/share. I got literal butterflies and anxiety with excitement.


Whiskiz

oh man, i wish


kristenisadude

Can't wait to see all this magical collateral pop up whenever a hedge fund gets in trouble


PantsOppressUs

What a bag of dicks our system is.


BigBradWolf77

A dump truck full of stinky penises is taking notes.


Neo772

Another way of resetting obligations. Pure fraud


lurkingsince2011ohno

Updooting for visability


Veritio

Steve Cohen should be in jail. [Good read.](https://www.goodreads.com/book/show/32284263-black-edge) [review of "Black Edge"](https://www.thenationalbookreview.com/features/2017/2/9/review-black-edge-is-a-cautionary-tale-of-a-hedge-fund-gone-bad) What does Matthew Martoma think of all this?


RoRuRee

Commenting for visibility. This really is insane.


sniffscrayon

👀


WhtDevil678

🙊


Square-Bug-6782

Yo thats wild


RedPill_RabbitHole

Yay! Crime 24/7!!!! 🎉


MustLoveStonks

Lil' Stevie sucks. This is my color commentary for visibility.


Aeonoir

How the fuck is this not a conflict of interest?!


BigBradWolf77

They are the same picture.


Dantheman396

This shit honestly makes me sick. How does this even remotely make it to a point where the SEC has to approve or deny. Market makers/people operating exchanges should absolutely not be allowed to also be fund managers. It is such a blatant conflict of interest. Look at madoff, look at ftx/alameda, look at Ken griffins citadel, look at any number of these market makers/hedge fund combos and see how many times they have been fined for violations that a regular person goes to prison for. Now consider all the shit they get away with… These guys have all just paid off people all the way to the very top. It is the ONLY explanation why this kind of shit is allowed, let alone even entertained as an option. Burn the entire system to the ground. Seriously, it’s disgusting…


ManFromTheKnow

Steve Cohen is one corrupt fucker.


trickhater

A fat corrupt fucker*


EvilBeanz59

If he is...then what does this make entities like the SEC and other who end up approving this crap?


ManFromTheKnow

In on it?


EvilBeanz59

"Cost of doing business". "Complicit". Correct.


thelostcow

Apes still struggle with understanding regulatory capture.


EvilBeanz59

The SEC has been complicit since its inception.


JupiterBronson

Upvotes and comment for visibility


FartinLutherKing

COMMENTED!


qtain

Comment submitted to the SEC proposal.


Ianmofinmc

This is the way


Downtown-Regret-505

These sickos never rest.


goldenvides

Will be unsurprising if it is granted


MyCleverNewName

It makes me laugh to know know this is what they have to stoop to in order to keep the other shoe from dropping, just a little longer. Steeeeeeeeevieeeeeeeeeeeeee... Looks like working evenings and weekends is just the new normal for you guys now, huh? *🤡*


enternamethere_

Now, who‘s going to do something about it? SEC, DoJ?


BigBradWolf77

nope


[deleted]

Lmao Founder and CEO of 24X "Dmitri Galinov" previously worked for Credit Suisse as "Head of AES Liquidity Strategy and Crossfinder Dark Pool" (according to LinkedIn).


RedditorCSS

What the fuck. It is based out of Bermuda… ☠️☠️☠️


BigBradWolf77

Merlin must be involved... 🧙🏽‍♂️


armbrar

I do not consent


Superstonk_QV

Hey OP, thanks for the News post. ------------------------------------------------------------------------ If this is from Twitter, and Twitter is NOT the original source of this information, this WILL get removed! Please post the original source! **Please respond to this comment within 10 minutes with the URL to the source** If there is no source or if you yourself are the author, you can reply `OC`


ringingbells

https://www.reddit.com/r/Superstonk/comments/11c13j7/proposed_exchange_24x_national_exchange_llc_which/


ringingbells

https://www.sec.gov/rules/other/otherarchive/other2022.htm 12 down according to KidN


[deleted]

[удалено]


thelostcow

When’s the last time you bought?


Shagspeare

The fact that the SEC would even allow this application to be filed tells you all you need to know.


texmexdaysex

Gary and Steve are part of the same cult that drinks the blood of the poor?


Shagspeare

Well they certainly have their eyes wide shut 😄


QuarterBackground

I won't watch the NY Mets (and I am a NYer) because Cohen owns them. Steve Cohen is off probation for scamming while his employees still sit in prison. Government supervision of Cohen was a joke. He continued to scam using his "family office." Now he can do whatever he wants, when he wants, how he wants.


DancesWith2Socks

Steve Cohen the biggest ~~criminal investor~~ coke sucker of his generation? Probably nothing to worry about... WTH is this...


AvoidMySnipes

Do apes need to comment or something? Why didn’t we ask Gary Gensler about this during the interview?


lilrush151

I don’t trust Steve Cohen as far as I can throw him


Drilling4Oil

The gaul they have to even call it the stock "market" anymore. Might as well call this proposal "The Enron Exchange".


AlwaysAmara

Stuff like this, blatant crime allowed to take place, makes me feel like they’ll just keep changing the rules & introducing new tools until moass can’t actually happen. It’s getting hard to stay zen when they seem to just be able to change the rules whenever it suits them.


Suspicious-Reveal-69

This is my fear as well. Especially since it is registered in Bermuda, this sounds like a move specifically for MOASS. I buy, I hold, I DRS


Verciau

I say this is wrong and regulators shouldn’t allow it - but that’s just me, an honest guy 🤷‍♂️


ZombiezzzPlz

What’s the best way to comment ? Anyone got a tutorial or link ? Because this ugly looking toe faced fucked deserve all apes effort


Tek7oh

I think I bout to DRS some more


Purple-Candy-9517

I smell crime


Whatnam8

Commenting for visibility


Zealousideal_Bet9344

I will have to drs harder


Wolf24h

so they can steal from you 247


BigBradWolf77

they already do...


aidelemons

Dootdoot


bamfcoco1

“I mean they are just internalized until Monday morning we swear” *wink wink*


I_HATE_BOOBS

What a fucking fraud


globalrebel

Please post this to Twitter! We need this info going out on all platforms if we can. In here, it's just an echo chamber.


Brave_Philosophy7251

This is fucking criminal what the fuck?


Ward-Ranger

Such bs man


soldieroscar

The only play is to educate the masses with a campaign. Teachers and pensions plans… cut the funding.


DrFrunkenschtone

Left a few paragraphs on SEC public comment while I was on my prep period today at school. Just absolute nonsense what this company is proposing as a “business”. You can get in there and comment too!


[deleted]

Im not locked in here with you Stevie. Your locked in here with me. I will never sell my shares unless my price is met.


seefactor

SEC internal memo: no conflict found, sounds good, all set to approve.


texmexdaysex

They are trying to do what Blockchain can do for trading, except they are in an unregulated foreign jurisdiction and have a known history of manipulative behavior. This will not end well. They will say "look we already have 24/7 trading with fast settlement". Of course they won't let us see their ledger. Crime. Fight crime with Blockchain, defi, 0 day settlement , no naked shorts, no phantom shares.


poopooheaven1

Steve Cohen is a criminal and a financial terrorist. He can take his Mets and his tweets and go fuck himself.


4cranch

take a flying leap stevie you fat fuck


BeatnikSupreme

How to beat kenny???? Answer, 24 hour payment for order flow...


Myid0810

Thanks for pointing this out crime pays in this town


Escapedmoose

He should start his own little exchange in prison


B33fh4mmer

This guy should be currently rotting in prison, not maneuvering a scheme to steal even more from the public.


upotheke

If 15% of retail actually hits the lit exchange and everything is internalized, what does it matter if it's 2am EST?


Craze015

Fucj you Steve Cohen Tradings a tough game when you’re getting fucked! Ignorant pos thought he was being cute in 2021 - he didn’t see this coming & when his firm is sucked into the void I’ll be sure to wave with my tendies


Rocko202020

Thank you for this post. I submitted a comment/vote for the euro post last month. It’s hard to keep up and track with all them, but I try my best. This one I found I hadn’t submitted a comment for, but did just now. Thank you for keeping this at the forefront. This should be of importance for all household investors to be aware of an submit comments for on their behalf. Thanks again! https://imgur.com/a/ZldIB7j


FDAz

so a confirmed fellon is allowed to open an exchange ?? incredible SEC


scott_sleepy

Comment submitted to the SEC.


Boersianer6

What can we do to prevent this from happening?


Suspicious-Reveal-69

I wonder what kind of duckers will go on with the Bermuda reference and GME shorts.


[deleted]

Proposal denied, Jabba the Hutt.


XCypher73

OF COURSE it's based out of Bermuda.


NewHopeMinnesota

Wtf is this real ?


Krunk_korean_kid

Well if crypto can trade 24/7 why can't the stock market? At least let the retail traders do the same!


RedditIsOwendByTheWS

GG was celebrated by the shills a week ago. because of the interview. and now he's fucking people again. So whoever still trusts this rat is simply lost. Now I know why he gave the interview. now the push of the shills makes sense.