Toronto Stock Exchange

The Toronto Stock Exchange is a stock exchange that operates out of the city of Toronto, which is situated in the province of Ontario in Canada. According to market capitalization, it is the tenth biggest exchange in the whole wide globe and the third largest in all of North America. The Toronto Stock Exchange (TSX) is a fully owned subsidiary of the TMX Group that facilitates the trading of senior equities. Its headquarters are located in the EY Tower in Toronto's Financial District.

In 1861, the Toronto Stock Exchange was created, and in 1878, it was granted incorporation status by the Legislative Assembly of Ontario. In 1999, the Toronto Stock Exchange was the only exchange in Canada that continued to trade senior equity securities. In 2002, the exchange changed its name from the TSE to the TSX when it was converted into a publicly listed business.

On the exchange, there is participation from a diverse group of companies, both domestic and international. The exchange not only offers traditional securities, but also a variety of exchange-traded funds, split share companies, income trusts, and investment funds. The Toronto Stock Market has more mining firms and oil and gas companies listed on it than any other stock exchange in the world.

There is a good chance that the Toronto Stock Exchange is a direct descendant of the Association of Brokers, which was established on July 26, 1852, by businesspeople in Toronto. There is not a single record of the group's financial dealings that have been preserved. On the other hand, it is well known that on October 25, 1861, twenty-four brokers assembled in the Masonic Hall to construct the Toronto Stock Exchange and participate in it. Between the years 1852 and 1870, two other separate markets that focused on commodities were established. These exchanges were the Toronto Stock and Mining Exchange in 1868 and the Toronto Exchange in 1854. The Toronto Stock Exchange initially featured 13 listings, but by 1868, the number had increased to 18 (the bulk of which were issuance from banks and bonds). In the year 1869, several banks in Upper Canada went bankrupt, which caused a stop to all forms of commerce in the city since the market was just too tiny. Eight of the original 24 brokers joined together once again to re-establish the Toronto Stock Exchange after investor confidence was strengthened by a bull market in 1870. In 1878, the exchange became a legal entity as a result of an act passed by the Legislative Assembly of Ontario.

The Canadian Imperial Bank of Commerce (CIBC), the Bank of Montreal (BMO), the Bank of Nova Scotia (Scotiabank), the Royal Bank of Canada (RBC), and the Toronto-Dominion Bank (TD) all have their headquarters at the exchange, which is why it is considered the financial hub of the country. The Toronto-Dominion Bank (TD) also has its headquarters at the exchange. This was perceived as being particularly visible during the planned mergers that took place in 1998 between the Royal Bank and Bank of Montreal, and CIBC and the Toronto-Dominion Bank. Both of these mergers took place in Canada. To maintain a healthy level of competition, the former Minister of Finance, Paul Martin, prohibited mergers.

Many energy businesses are included in the S&P/TSX 60 index which is listed on the market as their principal listing. These companies include Enbridge, Suncor, TC Energy, Canadian Natural Resources, Imperial Oil, Pembina, and Cenovus.

Many of the big firms that are listed on the TSX also have a secondary listing on an American exchange such as the New York Stock Exchange. This is notably true for the companies that are included on the S&P/TSX 60 index.