The Texas Stock Exchange, an upstart listings and trading venue in Dallas, just snagged its first stock listings. Pipeline operator Energy Transfer and several companies associated with it said Thursday that they'll shift their listings from the New York Stock Exchange to the Texas one.

Energy Transfer CEO Kelcy Warren is a major investor in the Texas exchange, giving him an incentive to make the move. Nonetheless, one analyst saw the listing as a significant shift.

The moves are "major wins" for the Texas exchange, wrote Kevin Heal, an analyst at Argus Research, in an email to Barron's.

The Texas Exchange launched as a trading venue in July, though its volume has been light, accounting for less than 1% of U.S. stock trading. The NYSE and Nasdaq dominate trading and listings today, and have been able to fend off competition from other exchanges for years.

Texas Stock Exchange CEO James Lee told Barron's in an interview this summer that the exchange business is ripe for disruption. He thinks businesses will be lured to the new exchange by Texas' business-friendly laws and lower fees.

"The move aligns Energy Transfer's Texas-based legacy with TXSE's technology-driven platform," Energy Transfer said in a release to explain the move. The Wall Street Journal first broke the news on Energy Transfer's intentions.

Sunoco L.P., USA Compression Partners L.P., and SunocoCorp, all of which are energy companies that are financially connected to Energy Transfer, also said on Thursday they'll shift listings.

The NYSE, which established its own Texas exchange last year, did not have an immediate comment. Heal said he doesn't expect Thursday's announcement to put a serious dent in NYSE or NASDAQ's business "given their recurring revenue streams from other services."