All about: Canadian Stock Exchange

The Canadian Stock Exchange (formerly known as the Montreal Club Market from 1926 through 1953) is also known as the Toronto Stock Exchange, and is the seventh biggest stock exchange market in the world. Although, primarily known for its oil, gas and mining sectors, still a great deal of businesses operate global stock with conventional securities on this massive market.

History behind the Canadian Stock Exchange

The Toronto Stock Exchange (TSX) was founded on 25th October 1861 in a Masonic Hall in Canada. The Legislative Assembly of Ontario created an act to incorporate the exchange as a global investment. In 1914, the TSX suffered their first crash, closing down for a three-month period caused by the financial woes of World War I. The TSX closed their trading floor in 1997. This created the opportunity to trade solely online from the comfort of your own home, also known as virtual trading.

London Stock Exchange

Last February, the LSE, or London Stock Exchange, merged with the TMX group, the TSX's parent company. This significant merge afforded TMX to become the second largest exchange in the world, surpassing the United States Nasdaq.

From TSE to TSX to TSX Group

Although, the acronym used for the Toronto Stock Exchange is TSX today, TSE was used up until early 2000, citing the first letter of "exchange". Around the same time changing from TSE to TSX, they ceased being a non-profit to legally generate revenue.

In 2002, the Canadian Venture Exchange changed their company's name to TSX Venture Exchange. In return, this afforded the Toronto Stock Exchange to acquire TSX Venture Exchange as a subsidiary, making TSX a parent company. TSX is now the TSX Group.

Reaching new heights

Their currency has always been Canadian American Dollars, or CAD, and currently serves under a cap of $2.17 trillion, as of the most recent update in December 2010.

The Toronto Stock Exchange trades under the indexes of S&P/TSX Composite, and S&P/TSX 60, their main market indexes. In May 2007, the S&P/TSX reached a new level, trading above 14,000 points for the first time in their 150 year history. This market is owned by TMX group. Further details can be found at Tmx.com. TMX quotes and stock watch can be done online at Tmx.quotemedia.com.

References

• Wikipedia.org

• Tmx.quotemedia.com

(All dollar amounts are updated of 01.07.11, except for the last paragraph, which was last updated on 01.12.10)