Canadian Stock Exchange
By: Anne Durrell
The Toronto Stock Exchange, which is known as TSX, The Montreal Exchange known as La Bourse de Montr’al, which was previously known as The Montreal Stock Exchange, and The Winnipeg Commodity Exchange TSX Venture Exchange, which was previously known as the Canadian Venture Exchange.
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The Toronto Stock Exchange is the biggest of the Canadian Stock Exchange, and it deals solely with the trade of senior equities. The Canadian Stock Exchange currently is ranked as 6th in the world. In 1977, they instituted the Computer Assisted Trading System, known as CATS. It is a machine instrument-driven trading system that is used to quote the reduced liquid equities. In 1977, the Canadian Stock Exchange became entirely automated. The trading floors were temporarily closed for it to begin to function in this electronic medium.
The Montreal Exchange handles futures contracts, various options and other such derivatives, thus the Montreal Exhange makes it the primary and only Canadian Derivatives Exchange. It finally became entirely automated in late 2001. This exchange also makes available to the Boston Option Exchange their electronic trading systems as well as support.
As part of the Canadian Stock Exchange, established in 1887, the Winnipeg Commodity Exchange, which was previously called the Winnipeg Grain & Produce Exchange has always dealt in grain. It is actually a market run in an electronic method that deals in rape seed, western barley, and feed wheat. It is the only commodity futures within Canada, and thus they transact with futures exchange and options contracts.
As a new stock exchange among the Canadian Stock Exchange, it has already lured many companies from being listed in other Canadian Stock Exchange, by offering a very good incentive for them to switch. As the standard initial listing fee is $10,000, they have announced that they have reduced their fee to just $2,000 for all applications received on or before March 31, 2009.
CNSX is expected to do well with the incentive, and thus is a new Canadian Stock Exchange born. There has been a tremendous amount of interest shown in the incentive, and since some companies could not meet the stated deadline for their applications, CNSX has now extended the final date for applications to June 30th, 2009.
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