Toronto Stock Exchange
Canada’s principal stock exchange and one of the world’s leading venues for natural-resource companies. Operated by TMX Group, it is paired with the TSX Venture Exchange, which lists earlier-stage companies and acts as a feeder market. More mining companies are listed in Toronto than on any other exchange.
- Location
- Exchange Tower, Toronto, Canada
- Trading currency
- Canadian dollar (CAD)
- Trading hours
- 09:30 to 16:00, Monday to Friday
- Trading days
- Monday to Friday, excluding TSX holidays
- Time zone
- Eastern Time (UTC−5, UTC−4 in daylight saving)
- Market capitalisation
- Approximately USD 3.3 trillion (2025)
- Listed companies
- Approximately 1,800 on the TSX, with a further 1,600 on the TSX Venture Exchange (2025)
- Settlement
- T+1 since May 2024, settled through CDS Clearing and Depository Services.
Top performing companies today
Ranked by the current session’s percentage move, strongest first, from the companies this platform covers on this venue.
Retrieving current-day prices for the companies covered on this venue…
What trades here
Major indices
- S&P/TSX Composite
- S&P/TSX 60
Major listed companies
- Royal Bank of Canada
- Toronto-Dominion Bank
- Enbridge
- Canadian National Railway
- Barrick Gold
- Shopify
Major sectors
- Financials
- Energy
- Materials and mining
- Utilities
- Technology
How the market works
Market structure
An electronic central limit order book operated by TMX Group, paired with the TSX Venture Exchange for earlier-stage issuers. Venture companies graduate to the main board when they meet its standards, which is why Toronto carries so long a tail of junior mining and energy names.
Trading mechanisms
A pre-open from 07:00 with an opening auction at 09:30, continuous trading to 16:00, and a closing auction. Market-on-close facilities are widely used by index funds.
Listing requirements
Main-board standards differ by category — industrial, mining, oil and gas, or technology. An industrial applicant broadly needs positive earnings or cash flow, adequate working capital, at least 1 million freely tradable shares, 300 public holders and a public float above CAD 4 million, together with Canadian governance and disclosure compliance.
Settlement
T+1 since May 2024, settled through CDS Clearing and Depository Services.
Regulatory authority
Canadian Securities Administrators (provincial regulators). Securities regulation is provincial; brokers are also regulated by CIRO.
How to invest in this market
What it takes to open an account and deal on TSX, separated by where you live — the two answers are rarely the same, and on some markets they are not even the same process.
Domestic investors
Residents of Canada
Canadian residents open an account with a CIRO-regulated investment dealer. Registered accounts — the TFSA and RRSP — are the reason most Canadian investing happens through a broker rather than directly.
- An account with an investment dealer regulated by CIRO and covered by the Canadian Investor Protection Fund.
- Identity verification and a Social Insurance Number.
- No statutory minimum for a cash account; margin accounts follow dealer requirements.
- Tax: eligible Canadian dividends attract the dividend tax credit; 50% of realised capital gains is included in income (with a higher inclusion rate above the annual threshold introduced in recent federal budgets — confirm the current rate). TFSA and RRSP holdings are sheltered.
Foreign investors
Open to foreign investors
Open. Non-residents can buy TSX-listed shares through any broker with Canadian market access, and no registration with a Canadian regulator is needed to invest.
- A broker offering Canadian market access, or an account with a Canadian dealer that accepts non-resident clients.
- Passport and proof of address; a declaration of residence for withholding purposes.
- Tax: Canadian dividends paid to non-residents are subject to 25% withholding, commonly reduced to 15% by treaty. Capital gains on shares of most public companies are not taxed in Canada for non-residents.
- Canadian brokers apply their own residency policies; several will not open accounts for residents of certain jurisdictions.
Foreign ownership limits
No general limit, but the Investment Canada Act allows review of significant acquisitions of control, and sector caps apply in telecommunications, broadcasting and air transport.
Currency considerations
Securities are quoted in Canadian dollars; several large issuers are inter-listed in New York, so the currency of purchase is a choice worth making deliberately.
Regulated routes to an account
Licensed intermediaries and official exchange platforms, listed to show the regulated routes into this market. This is not a recommendation and not an exhaustive list — check any firm against the regulator’s register before opening an account.
Verify before you act
Why this market matters
Why investors follow it
It is the deepest listed market for gold, base metals and energy, so it gives direct equity exposure to commodity cycles. Its heavy weighting in banks and pipelines also makes it a widely used income market.
Interesting facts
- It lists more mining companies than any other exchange in the world, including a large number of foreign-domiciled miners.
- The TSX Venture Exchange functions as a formal graduation path: companies move up to the main board as they meet its standards.
- Canadian banks are unusually concentrated, so a handful of financial names drive a large share of the composite index.
Official sources