2025 was the year of Y’all Street.
Financial institutions moved into North Texas in droves, and the region emerged as a serious hub for capital.
Here’s a look back at what happened and why it matters.
New exchangesThe Texas Stock Exchange
The Texas Stock Exchange was announced in 2024 with more than $100 million in backing from giants like BlackRock, Citadel Securities, Charles Schwab and more. Aiming to be a competitor to Big Apple duopoly of the New York Stock Exchange and Nasdaq, the Dallas-based exchange filed for approval from the U.S. Securities and Exchange Commission in January.
In September, TXSE passed muster, and in the following months secured additional funding from J.P. Morgan, Goldman Sachs and Bank of America for a total of $270 million in backing, as it looks to join a heavyweight bout for the future of capital markets.
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NYSE Texas
The New York Stock Exchange joined the rush for Y’all Street in February, reincorporating its NYSE Chicago exchange medallion as NYSE Texas. Based out of Oak Lawn’s Old Parkland, NYSE Texas quickly established itself as a formidable entrant on Y’all Street.
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While TXSE was waiting on a lengthy SEC approval process, NYSE Texas scooped up dual listings from major companies, and threw itself a glitzy bell-ringing ceremony at AT&T Stadium attended by Gov. Greg Abbott, Dallas Cowboys owner Jerry Jones, and more.
Nasdaq Texas
Nasdaq has had a presence in Texas for years, and announced its own dual listings exchange in November. Nasdaq Texas is slated to launch in 2026, pending regulatory approval.
Nasdaq’s main exchange already has more than 200 listed companies based in Texas, representing nearly $2 trillion in market cap, along with around 800 clients across Nasdaq’s other services. A Nasdaq executive described Nasdaq Texas as the next evolution of connecting capital to Texas.
When will the Texas Stock Exchange open?
TXSE plans to open its trading platform in early 2026, with listings of exchange-traded products coming in the second quarter. In the second half of 2026, TXSE hopes to nab its first corporate listings.
The exchange is currently based out of a temporary headquarters in Knox/Henderson, but is in the process of creating the Texas Market Center. The headquarters, to be located “in the heart of Dallas,” will feature executive offices, a Texas Business Museum and a broadcast studio for the opening and closing of trading.
Who has listed on NYSE Texas?
NYSE Texas recently hit a major milestone: its 100th dual listing. Dual listings provide companies with an additional venue for exchanging stock besides their primary exchange. NYSE Texas has nabbed dual listings from major companies, including:
AT&TVistra CorpD.R. HortonWaste ConnectionsNRG Energy
The total market capitalization of dually listed companies is more than $2 trillion, according to the exchange’s parent company, Intercontinental Exchange.
Banks moving in
Stock exchanges emerge where there’s money, and there’s a lot of money moving into North Texas.
Goldman Sachs is building a $500 million, 3-acre campus next to the Perot Museum that will house 5,000 workers. The bank already employs around 4,000 in the area.
Meanwhile, Wells Fargo is building an 850,000-square-foot facility in Irving for about 3,000 people, and Scotiabank, one of Canada’s largest banks, announced plans for a regional headquarters in Victory Park. More than 1,000 new workers will move into 133,000 square feet of office space thanks to Scotiabank’s $60 million investment.
Other banks were already here and are continuing to invest in the region. JPMorgan Chase expanded its Akard Street office in 2024, and Bank of America is working on a new tower on the Uptown side of Klyde Warren Park.
Other big newsTexas Capital transforms
Texas Capital, a homegrown Texas bank, took a victory lap after hitting major milestones in its third-quarter earnings report. In 2018, the bank’s stock price sank from over $100 per share in May to just $50 in December of the same year. A failed merger in 2020 saw the price tumble even further to just over $20, and the bank looked to transform.
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New CEO Rob Holmes joined Texas Capital in 2021 and set out a series of quantitative and qualitative goals to turn around the bank’s performance and become a full-service financial institution. In the third-quarter of this year, Texas Capital hit nearly all of those goals.
Mergers and acquisitions craze
While big banks were beefing up in North Texas, mid-size and regional banks were overtaken by a mergers and acquisitions craze.
In 2025, Ohio-based Huntington Bank bought Dallas’ Veritex Bank and Cadence Bank, which operates dual headquarters in Houston and Mississippi. Meanwhile, Vista Bank, also based in Dallas, was acquired by Denver-based National Bank Holdings. In 2024, a deal to acquire McKinney-based Independent Bank Group was announced, with the deal closing in 2025.
Most notably, Comerica Bank, one of Texas’ biggest banks, was acquired by Ohio’s Fifth Third Bank in a blockbuster $11 billion transaction announced in October.
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