- Private financiers and businessmen established Canada's stock exchange in 1861. Initially, they traded only 18 securities. After the Legislative Assembly of Ontario officially incorporated the Toronto Stock Exchange in 1878, it moved into its headquarters in Toronto. The Toronto Stock Exchange used the acronym TSE until 2002, when it changed to TSX. Like the NYSE, Canada's stock market ceased all operations for 3 months in 1914 to avert the panic associated with World War I.
- TSX is now the main stock market in Canada. Voluntary mergers and government-mandated consolidation of several stock markets that included Winnipeg Commodities Exchange and the Montreal Stock Exchange led to the TSX becoming the primary stock exchange in Canada. It operates for profit under the official name of TSX Group, Inc., with its own stock ticker symbol, "X." It is the third largest by volume in North America and the seventh largest worldwide. TSX listings include all 5 major Canadian banks. Over 400 of the companies traded are in the energy or mining sectors. It is currently the world's largest exchange for oil, gas, mining stocks and the second largest for technology companies.
- The TSX Group owns and operates Canada's two national stock exchanges. This exchange has two divisions, (TSX) and the TSX Venture Exchange for all Initial Public Offerings - junior stocks. TSX also conducts electricity and natural gas contract trades for NGX Canada Inc. The normal trading day is 9 a.m. to 4 p.m., in sync with the NYSE. The exchange observes Canadian and United States holidays. In 1977, it initiated the world's first computer assisted trading system and became completely electronic in 1997. It currently has no physical trading floor. Companies must meet TSX listing requirements of a minimum of 1 million publicly available shares with a market value of not less than 4 million Canadian dollars, and at least 300 investors. Specific industry requirements and additional financial regulations are also applied.
- By 1931, shares traded at over 10 million annually. Monthly trading reached 100 billion shares by 2000, and rose to 150 billion by 2007. TSX has signed agreements for over 200 interlistings from NASDAQ, NYSE and AMEX. The total number of companies traded exceeds 4,000. TSX ranked third in the World Federation of Exchanges in 2005, raising $46 billion for issuers. All approved brokerage firms are qualified to execute trades on behalf of investors using a variety of methods, including eTrade and Reuters.
- Canada ranks in the top 20 countries worldwide, scoring just below the UK for operational risk of doing business. Since 1999, the TSX Standard and Poor Index rose by 34 percent while the American Standard and Poor index suffered a 15 percent decline in value. For the past 5 years, Canada's employment has been growing. During the past 10 years, Canada has been the only G7 country with a federal government budget surplus.
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