Before the official merger of the Toronto and London stock exchanges hours to go. Let's try to remember the most important milestones of the Canadians, who were seventh in the world list of major fund institutions in 2010.
History of the Toronto Stock Exchange - TSE
It is believed that Toronto Stock Exchange The origins of the exchange can be traced back to the local Association of Brokers, whose existence has not been documented. Nevertheless, the generally accepted version says that 24 former representatives of this organization got together on October 25, 1861 and decided on that very day to create a stock exchange. The official recognition of their brainchild by the authorities was given in 1878.
Toronto Stock Exchange consistently, step by step, increased its size and volume of trading in shares, by the beginning of the First World War being a large and famous trading floor not only in Canada, but in North America as a whole. The three-month closure of the exchange in connection with the panic in the market in 1914 did not affect its further growth. Having absorbed its main competitor in the domestic market, the Standard Stock and Mining Exchange, the management of the Toronto Stock Exchange decided to name the merged company Toronto Stock Exchange (TSE). An even stronger exchange continued its harmonious development, moving to its own unique system, CATS, in the era of the advent of trading platforms. In 1997, the TSE fully implemented the system of electronic trading, closing the trading room. By this time, with the emergence of powerful competitors from Vancouver and Montreal, Toronto Stock Exchange began to specialize in operations with preferred shares, yielding to the aforementioned rivals in the volume of trading derivatives и common stock.
Recent Changes - TSE to TSX
In 2001, the exchange was rebranded, changing the last letter in the acronym to TSX. However, the Torontonians will no longer be able to write a new, no less glorious story. In the stock world there is now a boom of alliances, and the management of the London Stock Exchange LSE and Toronto Stock Exchange TSX decided not to stand aside. The formed merger will be the leader in the volume of trades in shares of extractive companies, due to the significant list of issuers in this field in Canadians. Both in London and in Toronto hope for the return of the lost positions, which started to decrease lately, both on the domestic and international market.