On This Day in Oil & Gas: October 25 - Toronto Stock Exchange
October 25, 1861, Toronto, Ontario, Province of Canada, The British Empire - As the First Battle of Springfield rages to the south in the American Civil War, twenty-four businessmen gather at the Toronto Masonic Hall to discuss "the facilitation of the exchange of financial instruments."
How riveting. As lacklustre as that topic of conversation may be for the majority of the right-thinking public, by the time those score and four men parted ways later that day, the Toronto Stock Exchange had been formed.
At the beginning of its life, the cost of membership was $5 and TSE trading was limited to daily half-hour sessions during which barely two or three transactions took place. In 2001, the TSE became the TSX and now it is the largest stock exchange in Canada, the third largest in North America and the seventh largest in the world by market capitalisation at $2.125 trillion. So how does this impact oil and gas? Well, the exchange is the primary listing for a handful of energy companies including Canadian Oil Sands Trust, EnCana Corporation, Nexen Inc, Husky Energy Inc, Cameco Corporation, Canadian Natural Resources Ltd and Imperial Oil Ltd. So, not a bad place to hang your hat.
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