--- title: Frost Bank's Parent Joins Energy Transfer and Dillard's in Moving Its Listing to the Texas Stock Exchange description: Cullen/Frost moves its NYSE listing to the Texas Stock Exchange on Nov. 12, after Energy Transfer, Dillard's and two banks. What TXSE is and who owns it. author: Darie Nani (Editor-in-Chief) date: 2026-10-30T12:20:51.294Z updated: 2026-10-30T12:20:51.311Z canonical: https://www.sovereignmagazine.com/article/what-is-the-texas-stock-exchange image: https://cdn.nanimediahouse.com/frost-tower-san-antonio-511458.webp categories: Markets content_type: News region: Texas publication: Sovereign Magazine schema_type: Article --- Cullen/Frost Bankers, the San Antonio company that owns Frost Bank, will move its primary stock listing from the New York Stock Exchange to the Texas Stock Exchange next month. The company said its common stock and its Series B preferred depositary shares will stop trading on the NYSE at the close on Wednesday, Nov. 11, and start trading on TXSE at the open on Thursday, Nov. 12. They keep their tickers, CFR and CFR.PrB, and shareholders do not need to do anything. Cullen/Frost had $54.5 billion in assets at the end of September and describes itself as one of the 50 largest banks in the US. Frost was founded in 1868 and operates in Austin, Dallas, Fort Worth, Houston, San Antonio, the Gulf Coast and the Permian Basin. James H. Lee, chairman and CEO of TXSE, said the exchange was "proud to have earned the primary listing of the largest Texas-headquartered bank." ## Energy Transfer, Dillard's and Two Banks Chose TXSE Before Frost Energy Transfer, the Dallas pipeline operator with about 140,000 miles of pipeline, said in September that its common units would leave the NYSE and begin trading on TXSE on Oct. 5 under the symbol ET. Dillard's began trading on TXSE the same day, under DDS and DDT, after nearly 60 years on New York exchanges, according to TXSE. The department store chain, headquartered in Little Rock, Arkansas, reincorporated in Texas first and is [the first company from outside Texas to move its primary listing to TXSE](https://txse.com/press/texas-stock-exchange-celebrates-dillard-s-primary-listing-transfer). Texas Capital, the Dallas bank, says two of its Texas-focused exchange-traded funds became the exchange's first primary listings when they moved on Sept. 16. Its parent, Texas Capital Bancshares, then [moved its common and preferred stock from Nasdaq](https://texascapitalbank.com/who-we-are/newsroom/news/2026/10/08/texas-capital-bancshares-inc-now-trading-texas-stock-exchange), trading on TXSE from Oct. 8 under TCBI and TCBI PRB, and plans to change its ticker to TXCP on Nov. 9. Origin Bancorp, the holding company for Origin Bank, said it expected to leave the NYSE and begin trading on TXSE on Oct. 13 under OBK. Drake Mills, its chairman and CEO, called Origin a company "with deep roots in Louisiana and a growing presence across Texas." Phil Green, chairman and CEO of Cullen/Frost, said more businesses and people in finance are moving to Texas, "especially towards the 'Y'all Street' financial district that is emerging in Dallas." He said the switch "helps reinforce Cullen/Frost's position as the preeminent Texas-based financial institution." ## BlackRock, Schwab, Citadel and State Street Hold Stakes in TXSE's Parent TXSE, a national securities exchange based in Dallas, received approval from the Securities and Exchange Commission on Sept. 30, 2025, began trading on July 6, 2026, and [finished a phased rollout on July 31](https://gov.texas.gov/news/post/governor-abbott-marks-successful-trading-launch-of-texas-stock-exchange), when all National Market System symbols became available to trade, according to the Texas governor's office. TXSE describes itself as the only national securities exchange "built, headquartered, and incorporated in Texas." Until the primary listings began, TXSE's listings were largely dual listings, in which a company keeps its primary listing on the NYSE or Nasdaq, KERA News reported in September. In an Oct. 1 notice, TXSE said it expected to admit Charles Schwab, a TXSE Group equity holder, on Oct. 7 as a dual listing alongside its existing NYSE primary listing. The exchange's parent company, TXSE Group, [announced an equity investment from State Street](https://txse.com/press/txse-group-announces-equity-investment-from-state-street) on Oct. 27. Its other equity holders include BlackRock, Charles Schwab, Citadel Securities, J.P. Morgan, Goldman Sachs and Bank of America. Kelcy Warren, Energy Transfer's CEO, owns a 30% stake in TXSE Group, KERA News reported, citing the Wall Street Journal. KERA described Energy Transfer's move as TXSE's first primary listing from the New York Stock Exchange. ## The NYSE and Nasdaq Launched Texas Exchanges of Their Own The NYSE and Nasdaq launched their own Texas venues, NYSE Texas and Nasdaq Texas, in response to TXSE, KERA News reported. The NYSE, part of Intercontinental Exchange, had announced NYSE Texas in February 2025 as "a fully electronic equities exchange to be headquartered in Dallas," according to the Texas governor's office. More on Cullen/Frost is at [frostbank.com](https://www.frostbank.com). ## FAQ **Q: When was the Texas Stock Exchange first announced?** Texas Governor Greg Abbott celebrated the exchange's creation at a press conference at the Governor's Mansion in September 2024, according to his office. **Q: Do Energy Transfer's preferred units move to TXSE too?** Yes. Energy Transfer said its Series I Preferred Units would also transfer to TXSE and begin trading there on Oct. 5, 2026, under the symbol ETprI.