The Texas Stock Exchange records its first listings, and Saudi Arabia continues to enhance its investment attractiveness with Vision 2030

The Texas Stock Exchange announced its first major listings on Tuesday, in a new step within the emerging stock exchange’s efforts to enhance its presence and compete with the major stock exchanges in New York.

The financial services company Texas Capital Bancshares said that two of its exchange-traded funds will be listed on the Texas Stock Exchange as their main trading platform, as of September 16, subject to obtaining regulatory approvals. The two funds are currently traded on the New York Arca Stock Exchange, affiliated with the New York Stock Exchange Group.

This step constitutes an early test of the Texas Stock Exchange’s ambition to establish a new center for companies and investment products outside the traditional financial centers in New York, according to Reuters.

Although the stock exchange has already succeeded in attracting secondary listings for a number of companies, the initial listing gives it a greater role as the main platform for the two exchange-traded funds, and enhances its presence in trading activity.

Texas Capital confirmed that the trading symbols and investment strategies of the two funds will remain unchanged.

The Texas Stock Exchange (TXSE) is supported by a number of investors, including BlackRock, Citadel Securities, and Charles Schwab.[...]