This Day In Market History: The Toronto Stock Exchange Launches

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened: On this day 158 years ago, the Toronto Stock Exchange was founded.

Where The Market Was: The TSE predates both the Dow Jones Industrial Average and the S&P 500.

What Else Was Going On In The World? In 1861, Abraham Lincoln was sworn in as the 16th U.S. president. The Battle of Fort Sumter marked the beginning of the Civil War. Union privates fighting in the Civil War earned a wage of $13 per month in 1861.

TSE’s Modest Launch: In October 1861, a group of 24 brokers assembled at the Masonic Hall in Toronto to participate in the TSE, which initially included listings for just 13 stocks. The TSE expanded to 18 listings in 1868.

The exchange continued to grow over time, moving to a new trading floor in an Art Deco building on Bay Street in 1936. At the time, the TSE had become the third-largest stock exchange in North America.

The TSE made the transition to the digital age in 1977 when it launched its Computer Assisted Trading System, or CATS.

In 2001, the TSE merged with the Canadian Venture Exchange, creating TSE parent company TSX Group.

As of the end of 2017, the TSE had 1,501 listings worth a combined market cap of more than $2.2 trillion.

The Toronto Stock Exchange board. Public domain photo via Wikimedia.