Canadian stock market

The Canadian stock market is centred on six different stock exchanges:

• CNQ
• Nasdaq Canada
• Toronto Stock Exchange
• TSX Venture Exchange
• Winnipeg Commodity Exchange
• Montreal Exchange

Toronto Stock Exchange

The Toronto Stock Exchange is the major stock exchange in Canada and an important hub for the Canadian stock market. Formerly abbreviate TSE, it is today referred to as TSX. The Toronto Stock Exchange is the 6th largest stock exchange in the world by market capitalization. This part of the Canadian stock market is headquartered in Toronto and owned and run by the TSX Group. The trading is in senior equities, and in addition to conventional securities this exchange lists exchange-traded income trusts, funds, and investment funds. A wide range of companies are listed here, primarily Canadian and United States ones.

The Toronto Stock Exchange is believed to be a descendant of the Association of Brokers, a group founded by Toronto businessmen in 1852. There are no official records left from this group and it is therefore difficult to know exactly how its business was carried out. 1861 is an important year in the history of the Canadian stock market because this is the year when 24 men joined forces at the Masonic Hall and established the Toronto Stock Exchange. In 1878, the exchange was officially incorporated by an act of the Legislative Assembly of Ontario.

The Toronto Stock Exchange grew continuously during the late 1800s and early 1900s, except for a period of three months in 1914 when it was closed due to fear of financial panic in the wake of World War I. A major step in the history of the Canadian stock market was taken in 1934 when the Toronto Stock Exchange merged with its chief competitor, the Standard Stock and Mining Exchange.

Montreal Exchange

The Montreal Exchange (formerly known as the Montreal Stock Exchange) is a Montreal based futures exchange specialised in the trading of derivatives, such as futures contracts and options. Its French name is Bourse de Montréal. You can find this exchange in the Tour de la Bourse (Stock Exchange Tower), the third tallest building in Montreal.

The Montreal Exchange was the first exchange in Canada, which naturally makes it a very important part of Canadian stock market history. The Montreal Exchange was started in 1832 in the form of an informal stock exchange housed at the Exchange Coffee House in Montreal. In 1872, the Montreal Stock Exchange was created and the shareholders voted Lorn MacDougall, one of the driving forces behind the establishment, its first Chairman of the Governing Committee.

Winnipeg Commodity Exchange

The Winnipeg Commodity Exchange is an exchange focused on derivatives. In this part of the Canadian stock market, futures and options contracts are traded in feed wheat, canola and western barley. Just as the name suggests, the Winnipeg Commodity Exchange is located in Winnipeg, Manitoba. The Winnipeg Commodity Exchange started out as the Winnipeg Grain & Produce Exchange in 1887. In 1904, the first futures contracts were introduced. The exchange was the only commodity futures exchange in Canada, and still is.

The Winnipeg Commodity Exchange has always been located in downtown Winnipeg. Its first home was a building on Princess Street, erected in 1899. Its second building was constructed in 1906 on 167 Lombard St. This building is still utilized by the Winnipeg Commodity Exchange as office space, and is commonly referred to as the Grain Exchange Building. The current home for the exchange is located at the 360 Main St. and was finished in 1979. It is currently the 3rd tallest building in Winnipeg.

December 2004 was an important month in the history of the Canadian stock market, because this was the month when the commodity futures exchange switched from the traditional “open outcry” method to the modern electronic trading format. The Winnipeg Commodity Exchange was the first North American commodity futures exchange to go completely electronic.

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