Nested in the Financial District, the Toronto Stock Exchange conducts some of the most important trades in Canada and North America. The TSX is currently based in the Exchange Tower, and the former headquarters is part of the Toronto-Dominion Centre.
Background and Interesting Features
The Toronto Stock Exchange was established as an ambitious venture by 12 businessmen in 1852. It took the traders nearly a decade to get official recognition for a stock exchange. After a successful meeting at the Masonic Hall, the brokers had the freedom to trade 18 stocks on the local market. By the early 1870’s, more than a dozen firms participated in the TSX.
More than 1 million shares were traded daily by the first decade of the 20th century. WWI temporarily disrupted Toronto’s stock market without causing any major losses. Surprisingly, the shocking downfall of Wall Street in 1929 had little impact on the Toronto Stock Exchange. As the United States suffered the Great Depression, the Canadian economy was relatively stable.
By the late 1970’s, the TSX pioneered the application of computer technology on the trade floor. Decimal trading in the 1990’s was another major innovation at this stock exchange. Various consolidations and corporate reconstructions ultimately gave the TMX Group control of this major financial entity in 2011.
Standing at the intersection of Bay Street and King Street, the Toronto Stock Exchange’s historic headquarters is marked by an Art Deco wall. The former home of the TSX is now occupied by the Design Museum, which celebrates Canadian industries. You may enter this specialty museum and admire some original decorative features that were made for the stock exchange. The current home of the TSX is situated inside the Exchange Tower, a 36-level skyscraper that opened in the early 1980’s.
How to Get There
The Toronto Transit Commission will get you to the Toronto Stock Exchange. Featuring underground platforms, St. Andrew Station receives service from subway trains that follow Line 1. This busy rapid transit hub stands just one block away from the Exchange Tower. Running on King Street, several streetcar routes can drop you off near the stock exchange. A normal walk between this financial entity and Union Station takes less than 10 minutes. There are also dozens of parking garages in the Financial District, but metered parking on the street is limited.
Click to visit the Toronto Stock Exchange official website.
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