Toronto Stock Exchange

The Toronto Stock Exchange (TSX) is a stock exchange in Toronto, Ontario, Canada. It is the 9th largest exchange in the world by market capitalization. Based in the EY Tower in Toronto's Financial District, the TSX is a wholly-owned subsidiary of the TMX Group for the trading of senior equities. A broad range of businesses from Canada and abroad 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. More mining and oil and gas companies are listed on Toronto Stock Exchange than any other stock exchange. The Toronto Stock Exchange likely descended from the Association of Brokers, a group formed by Toronto businessmen on July 26, 1852; No records of the group's transactions have survived. It is however known that on October 25 1861, twenty-four brokers gathered at the Masonic Hall to create and participate in the Toronto Stock Exchange; Between 1852 and 1870, two other distinct, commodity-orientated, exchanges were founded : the Toronto Exchange in 1854 and the Toronto Stock and Mining Exchange in 1868. Initially the TSE had 13 listings but it grew to 18 in 1868 (a majority of bonds and bank's issues). Many banks of Upper Canada failed during 1869, which halted any sort of trading in the city as the market was just too small. A bull market in 1870 boosted investor's confidence and eight of the original 24 brokers joined again to re-establish the TSE; he 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. The day of the Wall Street Crash of 1929, Toronto's exchange was better connected to New York's and received the bad news before Montreal's (prior to 1931, exchanges communicated via telephone or by brokers’ private wires, as they were not yet interconnected by ticker). By the afternoon, its three most popular stocks were down by at least 8% : International Nickel, Hiram Walker & Sons and Brazilian Light & Power). The following day, a record number of 331,000 shares changed hands on the TSE, with an overall loss of value of 20% (in Montreal, 525,000 shares and 25% loss.); Meanwhile, a British Columbia gold rush in the 1890s stimulated the demand for start-up capital but Montreal and Toronto's exchanges deemed the ventures too risky. The boom was handled with the Toronto Stock and Mining Exchange, founded in 1896 and which merged with its rival Standard Stock and Mining Exchange in 1899. The SSME, after years of ups and downs, was amalgamated into the Toronto Stock Exchange in 1934. While a durable surge in mining trading was recorded in Toronto (either commodities or securities), in Montreal the volume of the equity-centric market was going down. Toronto found itself a reputation as a financial centre for mining and from 1934, the total trading volume on the TSE surpassed that of Montreal's; 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; As of August 2019, Toronto Stock Exchange had 1,569 listed issuers (including ETFs and other structured financial products) with a combined market capitalization of CAD $3,059,755,023,680