The largest stock exchange in Canada, traditionally home to a large number of natural resource companies.
Investopedia Says:
The Toronto Stock Exchange was formerly the TSE.
Toronto Stock Exchange
| Investment Dictionary: Toronto Stock Exchange - TSX |
| 5min Related Video: Toronto Stock Exchange |
| Financial & Investment Dictionary: Toronto Stock Exchange (TSX) |
Largest stock exchange in Canada, listing more than 1,300 companies that are traded electronically. The exchange is part of TSX Inc., which includes the TSX Venture Exchange. In 1999, Canada's exchanges were reorganized along product lines, with regional exchanges in Vancouver, Calgary, and Winnipeg merging into the TSX and the Canadian Venture Exchange, and all derivatives shifted to the Montreal Exchange/Bourse De Montreal. The TSX trades only equities; equity options are traded in Montreal. The exchange adopted the TSX branding in 2002 and renamed its indices carrying the S&P/TSE and S&P/CDNX labels. The TSX's Benchmark index is the S&P/TSX Composite Index; it was formerly known as the TSE 300. The exchange offers a group of S&P/TSX Canadian sector indices for energy, information technology, financial services, consumer discretionary, consumer staples, industrials, telecommunications services, utilities, health care, materials, gold, diversified metals and mining, and real estate. Trading hours are 9:30 A.M. To 4 P.M., Monday through Friday. Settlement is the third day following the trade. www.tsx.com.
| Business Dictionary: Toronto Stock Exchange (TSE) |
Largest stock exchange in Canada, listing some 1,200 company stocks and 33 options. The exchange uses both Open Outcry and the Computer Assisted Trading System (CATS).
| Wikipedia: Toronto Stock Exchange |
"TSX" redirects here. For the automobile, see Acura TSX.
| Toronto Stock Exchange | |
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| Type | Stock Exchange |
| Location | Toronto, Ontario, Canada |
| Owner | TMX Group |
| Key people | Tom Kloet (CEO) Wayne Fox (Chairman) |
| Currency | CAD |
| Website | www.tsx.com |
The Toronto Stock Exchange (TSX), a subsidiary of the TMX Group Inc., is the largest stock exchange in Canada, the third largest in North America and the eighth largest in the world by market capitalization. Based in Canada's largest city, Toronto, it is owned and operated by TMX Group for the trading of senior equities. A broad range of businesses from Canada, the United States, Europe, and other countries are represented on the exchange. In addition to conventional securities, the exchange lists various exchange-traded funds, split share corporations, income trusts and investment funds. The TSX is the leader in the mining and oil & gas sector; more mining and oil & gas companies are listed on the TSX than any other exchange in the world.[1]
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History
The Toronto Stock Exchange likely descended from the Association of Brokers, a group formed by Toronto businessmen on July 26, 1852. No official records of the group's transactions have survived. On October 25, 1861, twenty-four men gathered at the Masonic Hall to officially create the Toronto Stock Exchange.[2] The exchange was formally incorporated by an act of the Legislative Assembly of Ontario in 1878.
The TSE grew continuously in size and in shares traded, save for a three month period in 1914 when the exchange was shut down for fear of financial panic due to World War I. In 1934, the Toronto Stock Exchange merged with its key competitor the Standard Stock and Mining Exchange. The merged markets chose to keep the name Toronto Stock Exchange. In 1977, the TSE introduced CATS (Computer Assisted Trading System), an automated trading system that started to be used for the quotation of less liquid equities.
On April 23, 1997, the TSE's trading floor closed, making it the second-largest stock exchange in North America to choose a floorless, electronic (or virtual trading) environment. In 1999, the Toronto Stock Exchange announced the appointment of Barbara G. Stymiest to the position of President & Chief Executive Officer.
Through a realignment plan, Toronto Stock Exchange became Canada's sole exchange for the trading of senior equities. The Bourse de Montréal/Montreal Exchange assumed responsibility for the trading of derivatives and the Vancouver Stock Exchange and Alberta Stock Exchange merged to form the Canadian Venture Exchange (CDNX) handling trading in junior equities. The Canadian Dealing Network, Winnipeg Stock Exchange, and equities portion of the Montreal Exchange later merged with CDNX.
The TMX Group is the leader in the oil & gas sector - more oil & gas companies are listed on Toronto Stock Exchange (TSX) and TSX Venture Exchange than any other exchange in the world. At the end of June 30, 2007, there were 434 oil & gas companies with a total market capitalization of $544.9 billion listed on Toronto Stock Exchange and TSX Venture Exchange. Oil & gas companies continue to raise equity on these exchanges with $5.56 billion raised in the first half of 2007, and $10.5 billion raised in 2006. Over 10 billion oil & gas shares, valued at $169.2 billion, traded on Toronto Stock Exchange and TSX Venture Exchange in the first half of 2007.
Name Change
In 2000, the Toronto Stock Exchange became a for-profit company and in 2001 its acronym was changed to TSX[2]. In 2001, the Toronto Stock Exchange acquired the Canadian Venture Exchange, which was renamed the TSX Venture Exchange in 2002. This ended 123 years of the usage of TSE as a Canadian Stock Exchange. On May 11, 2007, the S&P/TSX Composite, the main index of the Toronto Stock Exchange, traded above the 14,000 point level for the first time ever.
On June 11, 2008 at a meeting of shareholders of TSX Group Inc a resolution to change the name of the corporation to TMX Group Inc. was put forward.
Hours
The exchange has a normal trading session from 09:30am to 04:00pm ET and a post-market session from 04:15pm to 05:00pm ET on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance.[3]
Companies traded on the TSX
- See Category:Lists of companies listed on the Toronto Stock Exchange for a complete list.
As of 31 December 2007, the TSX had 3,951 listed companies with a combined market capitalization of $2.2 trillion.[4]
The exchange is home to all of Canada's Big Five commercial banks, including: CIBC, Bank of Montreal, Bank of Nova Scotia, Royal Bank of Canada and the Toronto-Dominion Bank, making the Exchange the centre for banking in the country. This was seen as being most evident during the proposed mergers of Royal Bank of Canada and Bank of Montreal alongside CIBC and Toronto-Dominion Bank in 1998, which were seen as stopping competition by the then Finance Minister Paul Martin.
The exchange is the primary listing for several energy companies including; Cameco Corporation, Canadian Natural Resources Ltd., Canadian Oil Sands Trust, EnCana Corporation, Husky Energy Inc., Imperial Oil Ltd. and Nexen Inc. all within the top 40 companies listed in on the exchange.
References
- ^ TSX Group[1]
- ^ a b Government of Canada The Toronto Stock Exchange
- ^ Market Hours, Toronto Stock Exchange via Wikinvest
- ^ Toronto Stock Exchange Page via Wikinvest
See also
- Stock market index
- List of stock exchanges
- List of American stock exchanges
- S&P/TSX 60
- Category:Lists of companies listed on the Toronto Stock Exchange
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External links
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