How many stock exchanges does Canada have?
In recent years, the Canadian stock markets have proved to be one of the world’s biggest and most important stock markets. Various types of investors and traders are attracted by the prestige of being listed on them. At present, there are three functioning stock exchanges operating on the territory of Canada
, located in the southern parts of the country. These are the Toronto Stock Exchange, TSX Venture Exchange, and the Canadian National Stock Exchange
The largest stock exchange in Canada, with over 3,950 issuers listed and with a market capitalization of nearly $2.2 trillion, is the Toronto Stock Exchange
, located in Toronto
. The TSX
is the only Canadian exchange that serves the senior equity market at present and comprises of a wide cross-section of issuers. Listing on this exchange provides an extensive range of benefits such as liquidity for investors and better opportunities to access public equity capital.
The Toronto Stock Exchange
is managed and operated by the TMX Group
– “the cornerstone of the Canadian financial markets and the center of Canada's equity market”. Formerly known as TSX Group, the corporation acquired the Montreal Exchange Inc. in 2008 and subsequently changed its name to TMX Group. The company is among the top providers of fixed income indices. The trading strategy of TMX blends offering of new and innovative products with top quality technology solutions and competitive pricing model. Equicom group is the main investor relations subsidiary of TMX Group. The entity is focused on corporate communications services and investors relations.
The Group also owns the TSX Venture Exchange
, located in Calgary
with branches in Toronto
. As of 31 December 2009, the TSX Venture Exchange had almost 2,200 listed companies and the Exchange’s total market capitalization was $32 billion.
While the Toronto Stock Exchange
deals mainly with well-established equities, the TSX Venture Exchange serves the public venture equity market. This exchange focuses on emerging companies and SMEs which do not match the TSX’s listing criteria and offers them access to a well-regulated market for venture investments.
Both the Toronto Stock Exchange and TSX Venture Exchange have trading sessions starting at 9:30am and closing at 4:00pm ET, plus a post-market sessions that extend from 04:15pm to 05:00pm ET on all weekdays with the exception of holidays which are declared by the Exchanges in advance.
Last but not least is the Canadian National Stock Exchange
. The CNSX is a new and innovative organization and the fastest growing stock exchange on the territory of Canada. It is located in Toronto, Ontario and operates a branch office in Vancouver. As an alternative to the traditional stock exchanges, the Canadian National Stock Exchange supports micro cap and emerging companies by offering simplified reporting requirements and no barriers in the trading of securities. Previously known as CNQ, the exchange re-branded itself and as of November, 2008 it is known as CNSX. The Canadian National Stock Exchange has trading hours from 09:30am to 04:00pm ET Monday to Friday.