Dillard's to shift primary listings to Texas as new stock exchange gains traction

Sept 18 (Reuters) — Dillard's on Friday said it would transfer its primary listings from the NYSE to the Texas Stock Exchange, joining a string of companies heading to the fledgling bourse that aims to challenge the two dominant US national stock exchanges. Texas has long pitched itself as a lightly regulated, corporate-friendly alternative to the US coastal states, and TXSE's backers say the new exchange will mirror that environment, countering the trend of "more regulation, more taxation" in New York and other established financial hubs. Besides the fashion retailer, regional lenders Origin Bancorp and Texas Capital Bancshares announced earlier this month that they would shift their listings to the TXSE from the New York Stock Exchange and the Nasdaq, respectively. All three companies are slated to begin trading on the new exchange in October. While the TXSE is pitching Texas' business-friendly laws and regulations to attract listings, companies on the new exchange must also be incorporated in Texas to benefit from the state's legal and regulatory protections. Several major corporations have already relocated their headquarters to Texas, some citing a 2025 state law that bolsters