About the Toronto Stock Exchange
The Toronto Stock Exchange (TSX) is the ninth-biggest stock exchange in the world by market capitalisation – with the total value of the stocks traded on the exchange being over $3 trillion as of September 2019. The location of the current Head Office is 130 King St W, Toronto, ON M5X 1J2, Canada.
On this page, you’ll find a list of the Toronto Stock Exchange companies, relevant indices that track the exchange, a brief summary of its history, and the performance of today’s tradable stocks.
Until the mid-1800s, the London market was where the majority of the capital for the early development of Canada was raised. Great Britain held public shares of big businesses at the time, for instance, Hudson’s Bay Company. That was until the Toronto Stock Exchange was formed in 1852. It was established on the 26th of July, when a group of businessmen from Toronto met for the purpose of forming a brokers association.
However, there were no records of any trades that were believed to have been carried out at this time and therefore the formal creation of the TSX is considered the 25th of October 1861. This was after a resolution was passed by 24 men who had gathered at Toronto’s Masonic Hall with the aim of putting together a framework for the facilitation of financial instruments being exchanged.
At the time, there were only 18 securities traded on the exchange, which were mainly linked to real estate and banks. Additionally, trading was restricted to half-hour daily sessions, whereby only a handful of transactions could be facilitated. It cost $5 to become a member originally, but this quickly increased to $250 per seat by 1871. At this point, there were 14 member firms of the TSX.
In 1878, the Toronto Stock Exchange was formally incorporated by an Act of the Ontario Legislature. This made it the second official stock exchange in the country, with the Montreal Exchange being the first.
The number of companies listed on the Toronto Stock Exchange had increased to 100 by 1901, and the exchange kept growing in size and value. In 1913 the Toronto Stock Exchange constructed new premises on Bay street, and by 1955 it cost $100,000 to become a member of the TSX.
The first Computer Assisted Trading System (CATS) was launched by the Toronto Stock Exchange in 1977 – the year that also saw the launch of the TSX 300 Composite Index, which would end up being the benchmark index of the equity market in Canada (this is now known as the S&P/TSX Composite Index). The exchange’s growth continued, and by 1980, 80% of all Canada’s equity trading was accounted for by the TSX.
A major realignment in Canadian exchanges occurred in 1999. This saw the Toronto Stock Exchange become the sole exchange for trading senior equities in Canada. Derivatives trading was handled in Montreal, while Alberta and Vancouver Stock Exchanges merged to form the TSX Venture Exchange for junior equity trading.
Today, the Toronto Stock Exchange continues to set records, and it is one of the most vibrant global markets for energy and mining securities.
There are a number of different indices that are used to track the performance of the Toronto Stock Exchange. This includes the S&P/TSX Composite Index (formerly the TSX 300), as well as S&P/TSX 60, and the S&P/TSX Completion Index.
As of August 2019, there were 1,569 listed issuers on the Toronto Stock Exchange. The TSX is home to all of the Big Five commercial banks in Canada: the Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, CIBC/Canadian Imperial Bank of Commerce, and the Royal Bank of Canada.
The TSX also has many of the biggest names in the Canadian energy market listed on its exchange. This includes Nexen, Imperial Oil, Husky Energy, Encana, Canadian Natural Resources, and Cameco.