§ History [ edit ]

TMX’s LED board displaying TSX information

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 create the Toronto Stock Exchange. [ 3 ] The exchange was formally incorporated by an act of the Legislative Assembly of Ontario in 1878.

The TSX 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 kept the Toronto Stock Exchange name. In 1977, the TSX 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 TSX’s trading floor closed, making it the second-largest stock exchange in North America to choose a floorless, electronic (or virtual trading) environment. The old TSX building later became the Design Exchange. a museum and education centre. In 1999, the Toronto Stock Exchange announced the appointment of Barbara G. Stymiest to the position of President & Chief Executive Officer.

1861–2006 logo of the TSE.

2006-Current logo of the TSX.

In 2000, the Toronto Stock Exchange became a for-profit company, and in 2001 its acronym was changed to TSX. [ 3 ] In 2001, the Toronto Stock Exchange acquired the Canadian Venture Exchange, which was renamed the TSX Venture Exchange in 2002; This resulted in the creation of a parent to the TSX, the TSX Group. 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 December 17, 2008, the TSX for the first time in history was closed for an entire trading day due to a technical glitch.

On February 9, 2011, the London Stock Exchange announced that it had agreed to merge with the TMX Group. Toronto Stock Exchange’s parent, hoping to create a combined entity with a market capitalization of $5.9 trillion (£3.7 trillion). Xavier Rolet. who is CEO of the LSE Group. would head the new enlarged company, while TMX Chief Executive Thomas Kloet would become the new firm president. Based on data from December 30, 2010 the new stock exchange would have been the second largest in the world with a market cap 48% greater than the Nasdaq. 8 of the 15 board members of the combined entity will be appointed by LSE, 7/15 by TMX. [ 4 ] [ 5 ] The provisional name for the combined group would be LTMX Group plc. [ 6 ] About two weeks after Maple Group launched a competing bid the LSEG-TMX deal was terminated after failing to receive the minimum 67% voter approval from shareholders of TMX Group. The rejection came amidst new concerns raised by bank of Canada governor Mark Carney regarding foreign control of clearing systems and opposition to the deal by Ontario’s finance minister. [ 7 ] [ 8 ]

On June 13, 2011, a rival, and hostile bid from the Maple Group of Canadian interests, was unveiled. A cash and stock bid of $3.7 billion CAD, in hopes of blocking the LSE Group’s takeover of TMX. The group is composed of the leading banks and financial institutions of Canada.

§ Hours [ edit ]

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. [ 9 ]

§ Companies listed [ edit ]