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Trading on Toronto Stock Exchange has surpassed 81.2 billion shares for the year – breaking the previous yearly volume records set a year ago. TSX trading volume so far in 2007 is running approximately 19 percent ahead of last year.
CEO Richard Nesbitt said, “there is real excitement in our business – and that is, in part around the TSX Quantum Revolution™. While trading continues to be strong as evident by these record numbers but we don’t stand still. We are making continuous improvements on our platform and overall trading infrastructure to handle the current and future needs of the marketplace. We are pleased that the initial launch of TSX Quantum is on schedule for roll-out this quarter. TSX Quantum is designed to provide participants with unprecedented speed and efficiency for trading and to position TSX among the best in the world for trading technology.”
TSX reduced trading fees on November 1st and Mr. Nesbitt believes this will provide an even greater competitive advantage. “We believe the reduction in fees will attract higher volumes and liquidity to our markets. Substantially greater capacity in the TSX Quantum trading engine will be able to handle these higher volumes with ease.” He also added, “Our trading fees, according to Elkins/McSherry, are among the lowest in the world even before the reductions took place November 1st.”
Mr. Nesbitt added, “We also continue to see increased activity in our market from investors around the globe. Much of our trading increase in 2007 is in resources – an area where we are a global leader in the number of listings in both mining and energy companies.”
As of October 31, 2007, there were 1609 issuers listing 2117 issues on Toronto Stock Exchange. The domestic market capitalization was almost $2.1 trillion.
In addition to the trading volume record, Toronto Stock Exchange has also seen a record $1.4 trillion in trades take place – the most ever for a year. There have been over 96 million trades this year – also a record.
About TSX Group Inc. (TSX-X)
TSX Group operates Canada's two national stock exchanges, Toronto Stock Exchange serving the senior equity market and TSX Venture Exchange serving the public venture equity market, Natural Gas Exchange (NGX), a leading North American exchange for the trading and clearing of natural gas and electricity contracts and Shorcan Brokers Limited, the country's first fixed income inter-dealer broker. TSX Group also owns The Equicom Group Inc., a leading provider of investor relations and related corporate communication services in Canada. TSX Group is headquartered in Toronto and maintains offices in Montreal, Winnipeg, Calgary and Vancouver.
