What Is the Toronto Stock Exchange (TSX)?

The Toronto Stock Exchange (TSX) is a Canadian stock exchange located in Toronto, Ontario. Founded in 1861, the TSX is Canada’s premier stock exchange with more than 1,500 listed companies, including those from the energy, mining, technology, and real estate sectors. The exchange is also home to international listings and exchange-traded products.

It became fully electronic after closing its trading floor in 1997. In 2007, the TSX merged with the Montreal Exchange (MX) to form the 澳洲幸运5开奖号码历史查询:TMX Group.

Understanding the Toronto Stock Exchange (TSX)

The Toronto Stock Exchange is one of the largest stock exchanges in the world and is the third-largest in North America after the 澳洲幸运5开奖号码历史查询:New York Stock Exchange (NYSE) and the Nasdaq. The exchange’s history dates back to the mid-1800s. It was established in 1861 and was officially incorporated in 1878 under the name Toronto Stock Exchange or TSE. It became known as the TSX after the company was rebranded in 2002.

The exchange operates Monday to Friday, except for statutory holidays. The market opens with regular trading activity taking place from 9:30 a.m. to 4 p.m. Eastern time. Trading orders may be entered but not executed during the pre-open from 7 a.m. to 9:30 a.m. ET.

As noted above, the exchange eliminated its 澳洲幸运5开奖号码历史查询:trading floor in 1997. Trades on the TSX became electronic, similar to the Nasdaq in the United States. Traded instruments include shares in companies, investment trusts, and 澳洲幸运5开奖号码历史查询:exchange-traded products (ETPs). Other financial instruments such as bonds, commodities, futures, options, and other 澳洲幸运5开奖号码历史查询:derivative products are also actively traded. All transactions are executed in the 澳洲幸运5开奖号码历史查询:Canadian dollar. According to the 2020 Guide to Listing, there were 1,572 listed issuers on the exchange.

The exchange launched the TSE 300 Composite Index in 1977, which was similar to the 澳洲幸运5开奖号码历史查询:S&P 500. Composed of the most influential stocks on the exchange, the name of the index was changed to the 澳洲幸运5开奖号码历史查询:S&P/TSX Composite Index in 2002. The index is rebalanced on a quarterly basis in March, June, September, and December.

Special Considerations

In 1999, the TSX became Canada’s only exchange for senior equities. Two years later, it acquired the TSX Venture Exchange, which primarily lists 澳洲幸运5开奖号码历史查询:small-cap stocks.

As noted above, the exchange is now operated by the TMX Group, a result of the merger between the TSX and the MX. In addition to the TSX, the MX, and the TSX Venture Exchange, the group also operates the TSX Alpha Exchange; Shorcan, which specializes in fixed-income products in Canada; and the 澳洲幸运5开奖号𓆏码历史查询:Canadian 𒊎Derivates Clearing Corp. (CDCC). The CDCC facilitates the clearing of Canadian exchange-traded derivative products and other financial instruments.

The TSX and the 澳洲幸运5开奖号码历史查询:London Stock Exchange (LSE) explored the opportunity for a merger. The deal fell through in 2011 after it failed to receive the required two-thirds majority of votes from shareholders. TMX proposed the merger to avoid a takeover by the Maple Group Acquisition Corp., a 澳洲幸运5开奖号码历史查询:consortium of Canadian investors including the Canadian Plan Investment Board, Scotia Capital, and TD Securities. The TMX Group agreed to the Maple Group takeover, which was completed in 2012.