TheCorporateCounsel.net

The Texas Stock Exchange (TXSE) began trading in July with a phased rollout, initially allowing equity securities of companies listed on other exchanges to trade on the TXSE as “unlisted trading privileges.” Now, the stock exchange is moving up in the world. Bloomberg reports:

Texas Capital Bancshares Inc. will switch its primary listing to the Texas Stock Exchange from Nasdaq, making it the fifth company in a week to jump to the upstart marketplace.

The Dallas-based financial services provider expects to begin trading on the new exchange on Oct. 8, according to a company statement Monday. The announcement came four days after pipeline operator Energy Transfer LP and three related companies said they would shift to the TXSE.

Those three related companies are Sunoco LP, SunocoCorp and USA Compression Partners LP. The article says Texas Capital’s CEO, Robert Holmes, serves on a TXSE advisory board, and Energy Transfer’s chairman, Kelcy Warren, is a backer of the exchange’s parent company, so all have some connection to the TSXE. But still, five companies just this week!

Hot tip for when you’re having conversations about this: TSXE is pronounced “TEX-ee”!

– Meredith Ervine