Known as the largest stock exchange in Canada, Toronto Stock Exchange or TSX is based on the largest city in the country, Toronto. Formerly referred as TSE, it is represented by a range of businesses not only in Canada but also in Europe, United States and other countries.
Important Tidbits About TSX
TSX is founded on the 25th of October in 1861, and owned by the TMX Group. Compared to other stock exchange in the world, TSX lists the most number of mining, oil, and gas companies. This is why it is considered as the forerunner of the gas, oil and mining sector. A normal trading session on Bay Street, the financial district of Toronto, starts at 9:30 a.m. and ends by 04:00 p.m. ET. Post market trading session, meanwhile, begins at 04:15 p.m. and ends by 05:00 p.m. ET. Trading sessions are open all days of the week with the exception of Saturdays, Sundays and important holidays (which are often announced in advance).
The numbers of companies listed on the Toronto Stock Exchange has reached a total of 1,498 as of the 2010 of November. In addition, TSX has a combined market capitalization of approximately US$ 2.17 trillion as of Decemeber 2010. Dubbed as the third largest stock exchange in North America while grabbing the seventh spot worldwide, TSX is home to top five commercial banks in Canada, which include the following:
- Bank of Nova Scotia
- Royal Bank of Canada
- Toronto-Dominion Bank
- CIBC
- Bank of Montreal
Four of the top five banks can be found at the same intersection (Bay and King Street), thus, making Bay Street as the center of banking and finance in the country. TSX also lists top tier energy companies, including the Nexen, Inc, Husky Energu Inc., Imperial Oil Ltd., EnCana Corporation, Canadian Natural Resources Ltd., and Cameo Corporation, to name a few.
Trading TSX Online
You don’t have to be a Canadian resident in order to acquire Canadian stocks. In fact, there are a number of reputable canadian online stock brokers and firms offering a vast array of online tools that are made available for traders all over the world. International and domestic traders alike can tie up their business portfolios to one of the largest stock exhanges in the country – Toronto Stock Exchange – by becoming familiar on how to take advantage of the available online trading tools provided by top online brokers.
Gone are the days when traders need to make stock trades via their banks or through costly stock brokers, now you can choose from other trading options. Some of the top online stock brokers that you should check out include Questrade, OptionsXpress and Interactive Brokers.
Be sure to choose an online Canadian brokerage firm that will utterly match your trading and contact preferences. Look into the customization options offered by each online brokerage firm to help you come up with the most informed investing decisions. If you are an adventurous trader who wants to rise rapidly on the Canadian market, then you should look into the various listings in the Toronto Stock Exchange.