The TMX Group, which operates Canada's two national stock exchanges – the Toronto Stock Exchange (TSX) serving the senior equity market and the TSX Venture Exchange (TSX-V) serving the public venture equity market – is ranked as the 6th largest exchange group in the world by equity capital raised, and has a total market cap over $2.5 trillion (June, 2014).
TMX Group's businesses operate cash and derivatives markets for multiple asset classes including equities, fixed income, and energy. It also provides clearing facilities, data products and other services to the international financial community.
The combined strength of the TSX and TSX-V is 1st in the world by number of listed companies under the mining, oil and gas and clean-technology sectors. It was also found to be 1st in the world by number of new listings, and 1st in Exchange-Traded Funds (ETFs). The TMX is also recognized for its staged-entry exchange, in which during the period from 2000 to 2014, over 600 companies graduated from the TSX-V to the TSX through its unique feeder system.
The TSX is the senior market for well-established businesses and management teams with experience in public markets. With a 150-year history, and globally visible specialized indices, the TSX provides access to larger, more international institutional investors. Of TSX issuers valued at $500 million or greater, 32% are inter-listed on a U.S. exchange.
The TSX-V provides access to capital for earlier-stage companies or smaller financings. It has a total market cap of CAD$48.7 billion and an average market cap of CAD$21.6 million. The 100+-year-old TSX-V is mandated to mentor the management of newly public companies, and provides a cost-effective stepping-stone for international companies looking to list in a high quality North American market.
The Toronto Stock Exchange and TSX Venture Exchange attract significant institutional and retail investors from around the world, including the U.S., Europe, China, Australia, South Africa and Latin America. Approximately 40% of the trading on TMX Group's equity exchanges comes from outside Canada.