Toronto Stock Exchange (TSX)

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.

History of the Toronto Stock Exchange

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.

Facts and Figures

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 June 2008, the S&P / TSX Composite closed at 15,657.60, which is currently the record high for the index (as of July 2016).

Some of the other key statistics of the Toronto Stock Exchange include:

  • Over 3,473 issuers are listed on the exchange, with a market capitalization of nearly $1.94 trillion USD (July 2016).
  • On December 19, 2008, a record 896 million shares exchanged hands on the Toronto Stock Exchange.
  • In May 2010, the exchange set an average daily volume record of 218,846 contracts.
  • On September 18, 2008, a record $19.3 billion in securities were traded.

Holiday Schedule and Hours of Operation

The Toronto Stock Exchange's hours of operation as well as their 2016 and 2017 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.

Toronto Stock Exchange Holiday Schedule 2017

Holiday Date
New Year’s Day January 2, 2017
Family Day February 20, 2017
Good Friday April 14, 2017
Victoria Day May 22, 2017
Canada Day July 3, 2017
Civic Holiday August 7, 2017
Labor Day September 4, 2017
Thanksgiving Day October 9, 2017
Christmas Day December 25, 2017
Boxing Day December 26, 2017

Toronto Stock Exchange Holiday Schedule 2016

Holiday Date
New Year's Day January 1, 2016
Family Day February 15, 2016
Good Friday March 25, 2016
Victoria/Patriots' Day May 23, 2016
Canada Day July 1, 2016
Civic Holiday August 1, 2016
Labor Day September 5, 2016
Thanksgiving October 10, 2016
Christmas Observed December 26, 2016
Boxing Day Observed December 27, 2016

Toronto Stock Exchange Hours of Operation

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) (Last Reviewed on September 1, 2016)