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Steve Stanton – SOT Advisory

Y'All Street SteveCompanion to sotadvisory.com

A SOT Advisory series

Y'All Street Steve

The DFW finance, banking, fintech, and jobs pulse — AI, stablecoins, and the Northeast corridor.

Episode hub and living dashboard of banks, fintechs, jobs, AI, and the Texas exchange race — McKinney, Frisco, Plano, Prosper, Allen. 39 firms tracked.

Companies tracked

39

Northeast DFW share

33%

TXSE listings this month

3

Next on the tape

6d · Oct 15

5 moves this week.

Forward calendar

The next 45 days

Fifth Third conversion on September 8, then TXSE’s first ETP week September 16–18. Corporate listings targeted October. FHLB Dallas convenes member talent in Frisco October 15–16.

  1. Sep 8

    Done

    Conversion · DFW franchise

    Comerica becomes Fifth Third

    Accounts, branches, and digital banking convert. Routing numbers and debit cards keep working. The largest downtown-Dallas HQ name of the last decade comes off the door.

    Fifth Third
  2. Sep 16

    Done

    Listing · TXSE · Dallas

    TXS and OILT go primary on TXSE

    Texas Capital’s Texas Equity Index and Texas Oil Index ETFs transfer from NYSE Arca. First primary listings on the Dallas exchange.

    Reuters
  3. Sep 17

    Done

    Listing · TXSE · Dallas

    PWRX launches — first new ETF on TXSE

    Westwood Salient Enhanced Power & Infrastructure ETF. Dallas-listed, Houston-managed, aimed at AI and data-center power demand.

    Westwood
  4. Sep 18

    Done

    Listing · TXSE · Dallas

    Brookmont ILS moves to TXSE

    Catastrophe-bond ETF transfers its primary listing from NYSE Arca. Third ETP onto the Dallas tape in three days.

    ACCESS Newswire / Morningstar
  5. Oct 1

    Done

    Market structure · TXSE · Dallas

    TXSE corporate listings targeted

    Exchange guidance: first corporate listings in October, after the September ETP week. No issuer named yet.

    TXSE Member Readiness
  6. Oct 15–16

    6 days

    Conference · Omni Frisco · The Star

    FHLB Dallas Women in Financial Services

    Two-day conference for member-institution leaders at the Omni Frisco Hotel at The Star. The community-bank talent network, on the Northeast corridor.

    FHLB Dallas

Texas exchanges

Three venues, one metro

TXSE is the fully integrated upstart. NYSE Texas already has 100+ dual listings — Westlake (WLK) dual-listed August 21. Nasdaq Texas is onboarding. Issuer choice is now a Dallas product.

  1. TXSE · July 2026

    Texas Stock Exchange

    ETP week Sept 16–18

    TXS · OILT · PWRX · ILS

    Dallas-headquartered national securities exchange. First primary listings mid-September; corporate listings targeted October. $275M capitalized. The fully integrated upstart.

    TXSE
  2. NYSE Texas · 2025

    NYSE Texas

    100+ dual listings live

    WLK · HAL · T · IBM · WHR

    ICE’s fully electronic Dallas venue. Dual list at no extra listing fee; keep the NYSE primary. Westlake Corporation (WLK) dual-listed August 21 — a Houston manufacturer on a Dallas tape.

    NYSE Texas
  3. Nasdaq Texas · March 5, 2026

    Nasdaq Texas

    Dual-listing onboarding

    Texas-tied issuers

    Incorporated in Texas, headquartered in Dallas. Dual-listing venue for companies already on Nasdaq or NYSE with strong Texas ties. Nasdaq’s answer to TXSE.

    Nasdaq Texas

TXSE listing week

  1. TXS · OILT

    Listed

    Sep 16 · TXSE · ETP transfer

    Texas Capital Texas Equity Index ETF & Texas Oil Index ETF

    First primary listings on TXSE. Both funds move from NYSE Arca; tickers unchanged. Pending remaining regulatory approvals.

    Reuters
  2. PWRX

    Listed

    Sep 17 · TXSE · New ETP

    Westwood Salient Enhanced Power & Infrastructure ETF

    First brand-new ETF to launch on TXSE — not a transfer. Dallas-based Westwood; Houston energy team. AI, data-center, and grid power demand with a covered-call overlay.

    Westwood / GlobeNewswire
  3. ILS

    Listed

    Sep 18 · TXSE · ETP transfer

    Brookmont Catastrophic Bond ETF

    Primary listing moves from NYSE Arca to TXSE. Objective, strategy, and ticker unchanged. First catastrophe-bond ETF on the Dallas exchange.

    ACCESS Newswire / Morningstar

Week of Sept 1, 2026

This week’s moves

Open full dashboard
  1. 01

    Aug 27, 2026

    Eden’s community bank plants a Dallas flag

    Texas Financial Bank — chartered in Eden, Texas (pop. ~1,800) — is opening its first full-service Dallas branch. A Preston Road LPO at 17330 Preston already exists; the branch is the late-2026 client bet in an affluent North Dallas corridor.

    Dallas Business Journal
  2. 02

    Aug 25, 2026

    BankChain Alliance: Texas-registered bank rails

    Thirty-nine state bankers associations, led in part by the Texas Bankers Association, formed an industry-owned blockchain network targeting a 2027 launch. Tokenized deposits, stablecoins, and automated settlement — for community banks, not just the largest issuers. TBA’s Chris Furlow: the effort is registered in Texas.

    Texas Bankers Association
  3. 03

    Aug 25, 2026

    Dallas Fed: tokenized deposits can shrink lending capacity

    Economists Rosie Levy and Srini Ramaswamy warn that 24/7 tokenized deposits — banks’ answer to stablecoins — could shorten deposit life, lift deposit betas, and cut U.S. maturity-transformation capacity by on the order of $580–$700 billion. The hometown Fed just put a number on the GENIUS-era balance-sheet risk.

    Dallas Fed
  4. 04

    Sep 1, 2026

    Sept 8: Comerica accounts become Fifth Third

    Conversion weekend. Fifth Third is exiting Comerica Bank Tower, running an interim HQ at NorthPark, and building a Preston Center regional home for 2028. About 40 of 60 planned DFW branches are already lined up inside a $700M Texas expansion.

    Fifth Third
  5. 05

    Aug 21, 2026

    Westlake (WLK) dual-lists on NYSE Texas

    Houston-headquartered Westlake Corporation dual-listed on NYSE Texas on August 21, keeping its NYSE primary. NYSE Texas now carries 100+ duals (Halliburton, AT&T, IBM, Whirlpool among them). The exchange race is not only TXSE’s September ETP week.

    Westlake / GlobeNewswire

Labor shed

Where the finance jobs sit

Job market

Seats follow campuses. Goldman and Scotiabank in Victory Park, Schwab and Fidelity in Westlake, JPM Plano, Liberty Mutual, Toyota Financial, Morgan Stanley Uptown. Fifth Third converts the Comerica franchise on September 8.

Plano

JPMorganChase

~30,000 Texas employees

Dallas

Goldman Sachs

5,000+ campus capacity

Westlake

Charles Schwab

~5,100 DFW jobs

Plano

Liberty Mutual

~5,000 jobs

Dallas

Morgan Stanley

3,800 announced; 1,500 first wave

Westlake

Fidelity Investments

Large regional campus

Frisco

Toyota Financial Services

1,000+ seats

Dallas

Scotiabank

1,000+ regional HQ

AI · stablecoins · core

Innovation tape

All innovation

Market structure · Dallas

TXSE’s first ETP week: Sept 16–18

Three products in three days: Texas Capital TXS and OILT transfer as primary listings (Sept 16), Westwood PWRX launches new (Sept 17), Brookmont ILS transfers from NYSE Arca (Sept 18). Corporate listings still targeted for October. NYSE Texas, meanwhile, just added Westlake (WLK) to a 100+ dual-listing tape.

Aug 26, 2026

Stablecoins · Dallas

Dallas Fed puts a number on tokenized-deposit risk

Levy and Ramaswamy (Aug 25): tokenized deposits — banks’ on-balance-sheet answer to stablecoins — could shorten deposit duration, lift betas, and cut U.S. maturity-transformation capacity by roughly $580–$700 billion. Instant 24/7 transfers also raise HQLA demand. The hometown Fed just framed the GENIUS-era ALM problem for every Texas community bank scoping a stablecoin or tokenized-deposit program.

Aug 25, 2026

Stablecoins · Texas / national

BankChain Alliance: industry-owned rails, registered in Texas

August 25: 39 state bankers associations, with the Texas Bankers Association in the lead group, formed BankChain Alliance — an industry-owned, industry-governed blockchain network targeting a 2027 launch. Tokenized deposits, payment stablecoins, smart payments, and automated settlement for banks of all sizes. TBA CEO Chris Furlow: the national effort is registered in Texas. A technology partner is still being selected.

Aug 25, 2026

AI · Plano

JPMorganChase’s Data & AI ecosystem runs through Plano

The bank describes a centralized-plus-federated data and AI model. Plano is a named U.S. software-engineer and tech-hub location, with veteran-to-technologist stories and ongoing AI/ML hiring. If there is a single Northeast DFW AI campus in banking, this is it.

Aug 20, 2026

From the desk

Steve on LinkedIn

More from Steve

Jul 30, 2026

3 Ways to Lose. Just way to win.

Goldilocks for bank AI: too little, too much, or too reckless. There is only one way to get it right.

LinkedIn

Jan 12, 2026

Dumbing Down Intelligence

Semantics fogged up the windshield. We can’t see the AI revolution clearly — so we argue definitions instead of using the tools.

LinkedIn

Jan 30, 2026

Wright, Wrong and Moore's Laws

Falling unit cost of compute does not mean we spend less. Jevons Paradox: we buy more — in units and in dollars.

LinkedIn

Episode hub

Listen

All episodes

Episode 01

Coming this week

The Pulse of Y'All Street

Launch episode. Why Dallas–Fort Worth became Y'All Street, what the Texas Stock Exchange changes, and how to read the week-to-week migration of banks, fintechs, and supporting tech into Northeast DFW — McKinney, Frisco, Plano, and Prosper.

Aug 28, 202635 min
Y'All Street
TXSE
Northeast DFW
Banking

Episode 02

In production

The Northeast Corridor

A closer look at McKinney, Frisco, Plano, Prosper, and Allen: bank campuses, Jack Henry, Alkami, captives, and the talent/cost dynamics pulling firms up the Dallas North Tollway.

Date TBARuntime TBA
Northeast DFW
Talent
Fintech
Corporate HQ

Texas finance map

Where the cluster sits

Open map
Northeast corridorMcKinneyProsperFriscoPlanoAllenDallasIrvingFort WorthWestlakeMidlothianTexas Stock Exchange (TXSE) — DallasGoldman Sachs — DallasMorgan Stanley — DallasCharles Schwab — WestlakeFidelity Investments — WestlakeJPMorganChase — PlanoWells Fargo — IrvingBank of America — PlanoCitigroup — IrvingCapital One — PlanoJack Henry — AllenFirst United Bank — McKinneyIndependent Financial — McKinneyAlkami — PlanoToyota Financial Services — FriscoToyota Motor North America — PlanoSoFi — FriscoConfer — McKinneyPlug and Play McKinney — McKinneyTexas Capital Bank — DallasNasdaq Texas — DallasNYSE Texas — DallasLiberty Mutual — PlanoFifth Third Bank — DallasNexBank — DallasHilltop / PlainsCapital Bank — DallasFrost Bank — DallasPNC (former BBVA USA) — DallasFederal Reserve Bank of Dallas — DallasMoneyGram — DallasVeritex Community Bank — DallasEquinix DA11 (TXSE DR) — DallasDFW Hyperscale / Colocation — MidlothianInfosys — RichardsonWestwood Holdings Group — DallasPoppy Bank — DallasScotiabank — DallasTexas Financial Bank — DallasFHLB Dallas — Irving
  • Bank
  • Fintech
  • Tech / AI
  • Exchange
  • Other

Context

Structural drivers

Read the brief

The label

Why ‘Y’All Street’ stuck

A shorthand for DFW’s bid to become a third U.S. capital-markets pole — not a slogan, a cluster forming in public.

Talent

A campus job market

Seats follow buildings. Westlake, Plano, Irving, Victory Park, and now Uptown are the hiring engines — with AI on one tape and efficiency cuts on the other.

Technology

AI in the bank, not at the bank

The useful question is not whether AGI arrived. It is whether DFW campuses hire for governed, problem-shaped AI — or for FOMO stacks.