The Toronto Stock Exchange is just one of two national stock exchanges operating in Canada, the other being TSX Venture Exchange. Both of these companies are held by TMX Group, Inc., which is considered the cornerstone of the Canadian financial markets and the center of Canada's equity market.
The Toronto Stock Exchange, or TSX, is thought to have grown from an association of brokers back in 1852. Unfortunately, there are no official records of this group's transactions. However, by 1861, twenty-four brokers came together at the Masonic Hall to create the Toronto Stock Exchange. In 1878, the exchange was formally incorporated by an Act of the Legislative Assembly of Ontario.
In 1934, the TSX merged with the Standard Stock and Mining Exchange, and the merged markets adopted the Toronto Stock Exchange name. In 1997, the TSX closed its trading floor, making it the largest stock exchange in North America to choose a floorless, electronic / virtual trading environment.
The Toronto Stock Exchange claims to be the third largest stock exchange in North America, behind the NASDAQ and NYSE Euronext, and the eighth largest exchange in the world. The performance of the market is usually measured in terms of the S&P / TSX Composite Index, which is composed of 197 companies. In November 2019, the S&P / TSX Composite closed at 16,957.99, which is currently the record high for the index (as of November 2019).
Some of the other key statistics of the Toronto Stock Exchange include:
The Toronto Stock Exchange's hours of operation as well as their 2018 and 2019 holiday schedules are listed below. Trading in the U.S. dollar may also be suspended on those days when banking holidays are celebrated in the U.S.
|New Year’s Day||January 1, 2019|
|Family Day||February 18, 2019|
|Good Friday||April 19, 2019|
|Victoria Day||May 20, 2019|
|Canada Day||July 1, 2019|
|Civic Holiday||August 5, 2019|
|Labor Day||September 42 2019|
|Thanksgiving Day||October 14, 2019|
|Christmas Day||December 25, 2019|
|Boxing Day||December 26, 2019|
|New Year's Day||January 1, 2020|
|Family Day||February 17, 2020|
|Good Friday||April 10, 2020|
|Victoria/Patriots' Day||May 18, 2020|
|Canada Day||July 1, 2020|
|Civic Holiday||August 3, 2020|
|Labor Day||September 7, 2020|
|Thanksgiving||October 12, 2020|
|Christmas||December 25, 2020|
|Boxing Day||December 28, 2020|
Both the Toronto Stock Exchange and TSX Venture Exchange have trading hours of 9:30 a.m. to 4:00 p.m. ET, Monday through Friday. There is also an extended session for Participating Organizations and Member Firms that extend from 4:10 to 5:00 p.m. ET each trading day.
About the Author - Toronto Stock Exchange (TSX)