Texas Capital Bancshares switches primary listing to Texas Stock Exchange

Texas Capital Bancshares is leaving Nasdaq for the Texas Stock Exchange, making it the latest and most prominent financial institution to bet that Wall Street’s centuries-old duopoly might finally have some real competition. The Dallas-headquartered bank announced on September 14 that it will transfer its common stock and its 5.75% non-cumulative perpetual preferred stock Series B from Nasdaq to TXSE. Nasdaq trading wraps up at the close on October 7, and TXSE trading picks up the very next morning on October 8. What the switch actually looks like For the first month, Texas Capital will trade under its familiar tickers, TCBI and TCBI PRB. Starting November 9, those change to TXCP and TXCP PRB. Texas Capital manages roughly $33.9 billion in assets. It bills itself as the only full-service financial services firm both founded and headquartered in Texas. CEO Rob C. Holmes called the move “the logical next step” in the firm’s commitment to the Texas capital markets. The bank already had ties to TXSE before this announcement. Two Texas-focused exchange-traded funds, trading under the tickers TXS and OILT, became TXSE’s inaugural listings on September 16. Those ETFs are managed by Texas ...