Oh, it's mostly a statement of principles to which a company can sign up. More like a "public benefit corporation". Are these binding? How are they enforced?
I was expecting some kind of exchange designed for lower volatility. There have been exchanges proposed where prices only change once a minute, or something like that, to stop high frequency trading. But this isn't one of them. Warren Buffett has proposed that any capital gain over a period less than a year be taxed at 100%, to force a buy and hold strategy. Not seeing any of that here.
> Warren Buffett has proposed that any capital gain over a period less than a year be taxed at 100%, to force a buy and hold strategy
Well yes, anyone with ample liquidity would love this. Anyone needing short-term liquidity would be price indifferent between their acquisition price and the market price. Liquidity providers would make bank.
There are many ways to address volatility, and - more importantly - the corporate dysfunctions that volatility can enable. We are working on research that will show that the reforms we advocate with are linked to lower volatility.
In terms of the principles, we advocate for principle-based listing standards which are indeed binding and enforceable. The details are enumerated in our public filings with the SEC and on our website.
I was expecting some kind of exchange designed for lower volatility. There have been exchanges proposed where prices only change once a minute, or something like that, to stop high frequency trading. But this isn't one of them. Warren Buffett has proposed that any capital gain over a period less than a year be taxed at 100%, to force a buy and hold strategy. Not seeing any of that here.