Texas Capital Bancshares said Tuesday that two of its exchange-traded funds (ETFs) will designate the Texas Stock Exchange (TXSE) as their primary trading venue beginning on September 16, subject to regulatory approvals.
Currently, both funds are listed and trade on NYSE Arca, which is part of the New York Stock Exchange group. The company emphasized that the ETFs will retain their existing ticker symbols and maintain the same investment approaches after the transfer.
The move is notable for the Texas Stock Exchange because it will be the first instance of the exchange serving as the primary listing venue for ETFs since it started operations. A primary listing means that TXSE will be the principal marketplace for the funds, giving the exchange a larger role in their trading activity than it has as a venue for secondary listings.
Texas Capital noted that while these are the first primary listings for TXSE, the exchange has already secured secondary listings from several companies. The announcement also reiterated the exchange's investor backing, which includes institutional names such as BlackRock (NYSE:BLK), Citadel Securities and Charles Schwab (NYSE:SCHW).
Summary
The two Texas Capital Bancshares ETFs currently trading on NYSE Arca will switch their principal listing to the Texas Stock Exchange on September 16 if regulatory approval is granted. The funds' ticker symbols and investment strategies will remain unchanged. This change represents TXSE's first primary ETF listings since the exchange began operations, while the exchange already hosts secondary listings for several firms.
Key points
- Two Texas Capital Bancshares ETFs will list with TXSE as their primary trading venue starting September 16, pending regulatory approval.
- The funds will continue to trade on NYSE Arca currently and will keep their same ticker symbols and investment approaches after the move.
- The change is the first set of primary listings for the Texas Stock Exchange since it launched; the exchange already counts several companies as secondary listings and has backing from major industry investors.
Risks and uncertainties
- Regulatory approval is required for the listing change, and the move is conditional on that approval.
- Because these are the first primary ETF listings for TXSE since the exchange began operations, there is inherent uncertainty tied to how the primary listing process will be executed for these funds.
Note: The article reflects only the details provided by Texas Capital Bancshares regarding the listing change. It does not speculate on post-listing trading dynamics, liquidity, or investor behavior beyond the stated facts.