Texas Capital Bancshares is shifting its primary stock listing from Nasdaq to the Texas Stock Exchange. Trading on the new venue is scheduled to commence on Oct. 8. The company, which holds a market valuation of approximately $4.3 billion, will also transition two of its exchange-traded funds to the platform.
Following the move, the financial services firm intends to update its ticker symbol to TXCP. CEO Rob Holmes, who also holds a position on the advisory board of the Texas Stock Exchange, stated that the transition aligns with the company's strategy to broaden its access to global capital markets.
Texas Capital Bancshares represents the fifth company to announce a move to the Texas Stock Exchange within a single week. This trend includes Energy Transfer and its affiliates, such as Sunoco and USA Compression Partners. The exchange aims to attract businesses from Texas and the southeastern United States.
Founded by James Lee, the Texas Stock Exchange has secured over $300 million in funding. Key investors backing the platform include JPMorgan Chase, BlackRock, and Citadel Securities. The new exchange currently competes with regional venues recently established by Nasdaq and the New York Stock Exchange.
