The Texas Stock Exchange is a fully electronic national securities exchange built, headquartered and incorporated in Dallas, designed to compete directly with the NYSE and Nasdaq. The Securities and Exchange Commission formally approved its Form 1 registration on Sept. 30, 2025, and the venue came online in stages the following summer: production trading opened with test symbols on July 6, 2026, the first live National Market System symbols began trading July 10, and the full symbol list was live by July 31. Its pitch is straightforward: expand access to U.S. capital markets, give issuers an alternative listing venue, and anchor that venue in a business-friendly state that has become a magnet for corporate relocations. Nicknamed "Y'all Street," it is the most serious attempt in years to loosen the grip of the established East Coast exchange groups.
Who's Backing It?
This is no fringe startup. TXSE Group Inc, the exchange's parent, is backed by more than two dozen investors, including BlackRock(the world's biggest asset manager) and Citadel Securities(one of the largest market makers), along with Charles Schwab, Fortress and JPMorgan Chase. The company has raised roughly $275 million and describes itself as the most well-capitalized equities exchange ever approved by the SEC. When the firms that dominate trading and asset management put money behind a new exchange, it signals the venture is meant to be a durable competitor, not a novelty.
The First ETFs on the Texas Stock Exchange
The exchange's ETF era began in mid-September 2026 with a small but symbolically important slate: five funds in six trading days — three listing transfers, one mutual fund conversion and one brand-new launch.
Texas Capital's TXS (Texas Capital Texas Equity Index ETF) and OILT (Texas Capital Texas Oil Index ETF) became TXSE's first primary listings on Sept. 16, 2026. Neither fund is new: both launched in 2023 and moved to TXSE from NYSE Arca. TXS provides diversified exposure to publicly traded companies headquartered in Texas, while OILT targets publicly traded oil and gas producers with significant production activity in the state. Both are managed by the funds business of Texas Capital Bank, a subsidiary of Texas Capital Bancshares. TXSE Chairman and CEO James H Lee called them "the first primary listings ever in the state of Texas."
A day later, on Sept. 17, Dallas-based Westwood Holdings Group launched PWRX (Westwood Salient Enhanced Power & Infrastructure ETF), the first newly created ETF to debut on the exchange . Managed by Westwood's Houston-based energy team, PWRX invests across traditional energy and utilities, grid infrastructure, data-center infrastructure and next-generation energy technologies, and layers a systematic covered call overlay on that equity portfolio to generate monthly income. It is the newest member of the Westwood Enhanced Income Series.
Two more funds followed almost immediately. Brookmont Capital Management transferred the Brookmont Catastrophic Bond ETF ( ILS ) from NYSE Arca on Sept. 18, making it the first fixed-income ETF with a primary listing on TXSE. On Sept. 21, Calamos Investments listed the Calamos Timpani Active SMID Growth ETF ( CTAG ), a conversion of an existing Calamos strategy into ETF form. Taken together, the group shows that a broader range of fund families — Texas-themed and not — is willing to list on the new venue.
Why a New Exchange Matters for ETF Investors
For everyday investors, a new listing venue doesn't change how you buy an ETF — your broker routes orders to wherever a fund trades, and the ETF's holdings and strategy are the same regardless of which exchange lists it. But the bigger picture matters. More competition among exchanges can, over time, mean lower listing costs for issuers, potentially tighter spreads, and more innovation in how funds come to market. It also gives ETF sponsors a new home — one that some may prefer for regulatory, cost or branding reasons.
It is worth being precise about what TXSE is competing against. Most U.S. ETFs list on NYSE Arca, Nasdaq or Cboe BZX rather than the NYSE's main board, and TXSE is not the only venue courting Texas issuers: NYSE reincorporated its Chicago exchange in Dallas as NYSE Texas in 2025, and Nasdaq brought its own Texas exchange fully online in March 2026. What sets TXSE apart is that it is the only national securities exchange built, headquartered and incorporated in the state.
There's also a thematic angle. The Texas Stock Exchange is explicitly courting companies and funds tied to the state's booming economy — energy, infrastructure and the businesses relocating to Texas. That could make it a natural hub for regionally themed ETFs like TXS and OILT , creating a new niche in the ETF landscape.
What to Watch Next
The first listings are a milestone, but the exchange's success will be measured over years, not days. On the corporate side, an answer is already taking shape: Energy Transfer, Sunoco, SunocoCorp, USA Compression Partners, Dillard's, Texas Capital Bancshares and Origin Bancorp have all announced transfers of their listings to TXSE, with first trade dates scheduled across October 2026. The open questions now are whether that pipeline keeps growing, whether more ETF issuers follow, and whether the exchange can build enough trading volume and liquidity to compete with the deeply entrenched NYSE and Nasdaq. The backing of BlackRock, Citadel Securities, Schwab and JPMorgan gives it a real chance, but displacing incumbents is a long game.
Frequently Asked Questions
What is the Texas Stock Exchange?It's a fully electronic national securities exchange based in Dallas, approved by the SEC on Sept. 30, 2025 to compete with the NYSE and Nasdaq. Nicknamed "Y'all Street," it began live trading in July 2026 and landed its first ETF listings in September 2026.
What were the first ETFs on the Texas Stock Exchange?Texas Capital's Texas Equity Index ETF ( TXS ) and Texas Oil Index ETF ( OILT ) transferred from NYSE Arca on Sept. 16, 2026 as TXSE's first primary listings. The Westwood Salient Enhanced Power & Infrastructure ETF ( PWRX ) followed on Sept. 17 as the first newly created ETF to launch there, ahead of the Brookmont Catastrophic Bond ETF ( ILS ) on Sept. 18 and the Calamos Timpani Active SMID Growth ETF ( CTAG ) on Sept. 21.
Who owns the Texas Stock Exchange?Texas Stock Exchange LLC is a wholly owned subsidiary of TXSE Group Inc, which is backed by more than two dozen investors, including BlackRock, Citadel Securities, Charles Schwab, Fortress and JPMorgan Chase, with roughly $275 million raised.
Does it matter which exchange an ETF is listed on?For investors, not much day to day — your broker routes the trade and the fund's strategy is unchanged. But more exchange competition can lower costs for issuers and spur innovation over time.
Can I buy ETFs listed on the Texas Stock Exchange?Yes. ETFs listed on TXSE trade like any other U.S. ETF and can be bought through standard brokerage accounts, just like funds listed on the NYSE or Nasdaq.
Bottom Line
The arrival of the first ETFs on the Texas Stock Exchange is more than a Lone Star curiosity — it's the opening move in the most credible challenge to the NYSE-Nasdaq listings franchise in years, backed by heavyweights like BlackRock and Citadel Securities. The debut slate — TXS , OILT , the newly launched PWRX , plus ILS and CTAG — leans into Texas's energy and infrastructure strengths while showing the venue can also attract issuers with nothing to do with the state, and a queue of corporate transfers is set for October. For ETF investors, the funds work exactly as they always have; the real story is what a competitive new listing venue could mean for costs, innovation and choice across the whole ETF industry in the years ahead. Y'all Street has arrived.
Data as of Sept. 24, 2026. Scheduled listing dates for pending corporate transfers are subject to change. This article is for informational purposes only and does not constitute investment advice.
This article was generated with the assistance of artificial intelligence and reviewed by ETF.com staff.
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