Toronto Stock Exchange
The
Toronto Stock Exchange (also known as the
TSX) is
Canada's largest
stock exchange, North America's second largest stock exchange, and the
sixth largest in the world. It is the division of the
TSX Group () that trades senior equities. A broad range of businesses from Canada, the
United States, and other countries are listed on the exchange. The TSX is headquartered in
Toronto, the third largest financial centre in North America, and maintains offices in
Montreal,
Winnipeg,
Calgary, and
Vancouver.
In the past
TSE was used as the abbreviation of 'Toronto Stock Exchange', this was changed to
TSX. TSE is currently used by the
Tokyo Stock Exchange.
The TSX likely grew from an "Association of Brokers" formed by Toronto businessmen on
July 26,
1852. However, no official records remain of this group's transactions. On
October 25,
1861, twenty-four men gathered at the
Masonic Hall to officially create the Toronto Stock Exchange. The Toronto Stock Exchange became 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 chose to keep the name Toronto Stock Exchange.
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.
In
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.
In
1999, the Toronto Stock Exchange announced the appointment of
Barbara G. Stymiest to the position of President & Chief Executive Officer. She became the first female president of a North American stock exchange.
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.
|
Former logo of the Toronto Stock Exchange prior to the switch to TSX. |
In
2000, the Toronto Stock Exchange became a for-profit company.
In
2001, the Toronto Stock Exchange acquired the Canadian Venture Exchange, which was renamed the
TSX Venture Exchange in 2002.
On
February 6,
2006, the Toronto Stock Exchange closed at 12,080.53, the first time it has surpassed the 12,000 mark in its history.
On
April 6,
2006, the Toronto Stock Exchange closed at a new record high of 12,342.02.
Since then, the index has slightly decreased, incidentally, closing at 11,666.13 on
June 6,
2006.
*
List of companies traded on the TSX*
S&P/TSX 60 Index*
S&P/TSX Composite Index (This replaced the
TSX 300 on
May 1,
2002)
*
Stock market index*
List of stock exchanges*
Official site*
TSX history*
Emporis
