Texas exchange reaches new milestone

The Texas Stock Exchange just got its first newly created ETF. Westwood Holdings launched the Westwood Salient Enhanced Power and Infrastructure ETF, or PWRX, on Thursday.

“Listing the first new ETF on the Texas Stock Exchange is a milestone we are proud to share with our home state.”

What PWRX actually invests in

PWRX is an actively managed fund that invests across power, energy, and infrastructure. It covers traditional energy, utilities, grid and data-center infrastructure, plus emerging energy technologies.

Westwood CEO sees Texas as the future

Brian Casey, CEO of Westwood Holdings Group, called the launch a sign of what American capital markets will look like next. He said the story is being written in Texas.

“This is what we believe the next chapter of American capital markets looks like, and it is being written in Texas.”

Texas Capital moved two ETFs over

One day before PWRX launched, Texas Capital transferred two existing ETFs from NYSE Arca to TXSE. The Texas Equity Index ETF and Texas Oil Index ETF now trade on the new exchange.

What those two funds track

The Texas Equity Index ETF invests in publicly traded companies headquartered in Texas. The Texas Oil Index ETF focuses on oil and gas companies with significant production activity in Texas.

Texas Capital backs the exchange

Rob C. Holmes, Texas Capital's chairman and CEO, said the move shows confidence in TXSE and belief that Texas companies deserve a world-class capital markets platform built at home.

“This milestone reflects our deep conviction in Texas, our confidence in the Texas Stock Exchange.”