Toronto Stock Exchange – another player in the investment market
In addition to large-scale stock exchanges in America and the oldest trading platform from London, there are plenty of other exchanges in the world. Among them stands out the Toronto Stock Exchange. It is one of the largest and most experienced, having been working since the mid-70s of the XIX century.
The current position of the exchange
In the ranking of the largest stock markets in the world, the Toronto ranks 12th. Its capitalization goes beyond the level of 2 trillion dollars, and the number of companies listed on the stock exchange is 2.2 thousand. It can also be considered one of the oldest exchanges. It has existed for 167 years; only the Frankfurt, New York and London stock exchanges operate on the market for a longer time.
The site offers a variety of investment tools; in particular, work in electronic and trust markets, as well as on the field for private investors. In terms of innovation, the stock exchange is also notable. It was here in 1977 that the first electronic trading system was launched. Over time, it was integrated into its work other sites.
Toronto Stock Exchange History
The platform was created in 1852 by local businessmen wishing to form an association of brokers. At the same time, there has not been a deal here for 9 years, so in fact the stock exchange started operating in 1861 after the adoption of the resolution.
At first, only 18 securities were available to businessmen, so operations and sessions were short-term and not massive. As the exchange evolved, the number of companies represented on it and the price for membership changed. At first, it cost only $ 5, but in 1871, it grew to $ 250.
At the beginning of the 20th century, 100 companies traded on the stock exchange, and their annual turnover approached $ 1 million. The rapid development of the site knocked down the First World War, because of which in 1914 the exchange was closed for three months.
When stocks rose in tandem with corporate profits during World War I, this led to a truce in 1918 and marked the beginning of a speculative period in the economy. It ended in a global financial catastrophe – the Great Depression. Due to the collapse of the economy, about 2000 investment and brokerage companies in the United States have closed. In Canada, things also went wrong. Therefore, the Toronto Stock Exchange merged with the once competitive – Standard Stock & Mining Exchange.
This step allowed the site in 1936 to reach the third place among the North American stock exchanges in terms of turnover, and its annual trading volume exceeded $ 500 million. After another 20 years, the cost of membership on the stock exchange was already $ 100,000, and the turnover reached one billion. In the late 90s, the Toronto Stock Exchange became the main one in its region.
