The banking institution expects to wrap up its tenure on the NYSE at the close of business on November 11. By the following morning, its common stock and depositary shares will resume trading on the Texas exchange under the existing symbols CFR and CFR.PrB. This transition aligns the 156-year-old firm with a rising cohort of Texas-headquartered companies seeking to bolster the state's regional business influence.
In section Market Quotes
Cullen/Frost Bankers Shifts Primary Listing to Texas Stock Exchange
San Antonio-based Cullen/Frost Bankers is pulling its primary stock listings from the New York Stock Exchange, marking a strategic pivot to the fledgling Texas Stock Exchange. The move, scheduled for mid-November, signals a growing corporate appetite for an alternative to Wall Street’s long-standing financial hegemony.
Major players including Dillard's, Energy Transfer, and Sunoco have already made the jump to the Texas Stock Exchange since its 2024 launch. While the newcomer currently commands less than 1% of total U.S. daily equity trading volume according to Cboe Global Markets, the migration of established entities like Cullen/Frost underscores a deliberate attempt to decentralize market activity away from traditional coastal hubs.
Comments (0)
No comments yet. Be the first!