The Texas Stock Exchange (TXSE) is intensifying its efforts to become a primary listing venue for major U.S. companies, aiming to compete directly with the New York Stock Exchange (NYSE) and Nasdaq. JPMorgan Chase & Co. Dallas region chair Elaine Agather, a TXSE advisory board member, indicated that further announcements regarding the upstart marketplace are expected soon. This comes after reports that pipeline giant Energy Transfer LP plans to be the first significant company to switch its primary listing from New York to Texas.
Energy Transfer LP's move to the TXSE is a considerable victory for the nascent exchange, which is seeking to disrupt the established listing business. The company, a major pipeline operator, will transfer both its common units and Series I preferred units from the NYSE to the TXSE. The units are expected to begin trading on the TXSE on October 5, 2026, retaining their current ticker symbols, "ET" and "ETprI" respectively.
This decision aligns Energy Transfer's Texas-based operations with the TXSE's technology-driven platform. Kelcy Warren, chairman of the approximately $75 billion pipeline company, is a key supporter of TXSE's parent company, holding roughly a 30% stake and being an early investor alongside firms like BlackRock and Citadel Securities. The move is anticipated to enhance value and support the partnership's continued growth, marking a significant step for the TXSE in its ambition to attract more listings from traditional financial hubs.
