Toronto Stock Exchange (TSX)

History of the Toronto Stock Exchange :

The Toronto Stock Exchange traces its roots to 1852, when an association of brokers was formed in Toronto. In 1861, the exchange was officially created, with eighteen securities traded. The TSX (originally known as the TSE) grew slowly throughout the rest of the 1800s and up until World War I. The exchange closed for three months in 1914 due to the war in Europe. After the war, however, industrialization in Canada created a demand for investment, and therefore capital. Because of this, by the end of the 1920s the TSX was trading over 10 million shares a year.

In the 1930s the Toronto Stock Exchange merged with one of its top competitors, the Toronto Stock and Mining Exchange, in order to cope with the financial crisis of the Great Depression. This merger created the third largest stock exchange in North America, and from this point on, the TSX grew rapidly.

The TSX was a floor exchange throughout most of its history. However, in order to operate more efficiently, the exchange began to trade some of its stocks electronically. In 1997, the exchange closed its trading floor and became a fully electronic exchange. In 1999, the Toronto Stock Exchange became the only Canadian exchange trading in senior equities, as all of Canada's exchanges reached an agreement to help the country compete with foreign exchanges. All other Canadian exchanges agreed to trade in either other types of securities, such as derivatives, or junior equities.

The TSX became a for-profit company in 2000, issuing its own stocks, and in 2001 it acquired the Canadian Venture Exchange, known now as the TSX Venture Exchange branch of TSX Group. In 2003, the Toronto Stock Exchange had 1400 listed companies.