Toronto Stock Exchange

The Toronto Stock Exchange (TSE) now known publicly as the "TMX" is the largest stock exchange in Canada, the third largest in North America and the seventh largest in the world by market capitalization. Based in Canada's largest city, Toronto, it is owned and operated by TMX Group for the trading of senior equities. A broad range of businesses from Canada, the United States, Europe, and other countries are represented on the exchange. In addition to conventional securities, the exchange lists various exchange-traded funds, split share corporations, income trusts and investment funds. The TMX is the leader in the mining and oil & gas sector; more mining and oil & gas companies are listed on the TMX than any other exchange in the world. The exchange has a normal trading session from 09:30am to 04:00pm ET and a post-market session from 04:15pm to 05:00pm ET on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance. As of 31 December 2007, the TSX had 3,951 listed companies with a combined market capitalization of $2.2 trillion. The exchange is home to all of Canada's Big Five commercial banks, including: CIBC, Bank of Montreal, Bank of Nova Scotia, Royal Bank of Canada and the Toronto-Dominion Bank, making the Exchange the centre for banking in the country. This was seen as being most evident during the proposed mergers of Royal Bank of Canada and Bank of Montreal alongside CIBC and Toronto-Dominion Bank in 1998, which were seen as stopping competition by the then Finance Minister Paul Martin. The exchange is the primary listing for several energy companies including; Cameco Corporation, Canadian Natural Resources Ltd., Canadian Oil Sands Trust, EnCana Corporation, Husky Energy Inc., Imperial Oil Ltd. and Nexen Inc. all within the top 40 companies listed in on the exchange.