This is to notify you that over the weekend of May 10th-11th the TSX will be migrating half of its symbols to a new trading platform. In so doing all outstanding Good Till Cancelled (GTC) orders will be erased from the system.
The TSX is planning the same migration for the remaining stock symbols, N through Z, over the weekend of May 24th-25th. Once again you should avoid leaving GTC orders in the system after close of business May 23rd, for any symbols beginning with N through Z. As previously mentioned you will be obliged to re-enter such orders over the weekend when the switch has been completed.
We want to remind you that you are responsible for your own orders. Please take care to check that you have correctly re-entered any outstanding orders into the system. You should also check your open orders before start of business on both Monday May 12th, for symbols starting A through M, and on Monday May 26th, for symbols starting N through Z.
TradeFreedom
MONTREAL, TORONTO: EXCHANGES MERGE
The merger of the Montreal and Toronto stock exchanges became official with the opening of markets on Thursday. Both exchanges will keep their current name but will be part of a single company, TMX. Interim TSX Co-Chief Executive Tom Plasznik says the merger will create new opportunities to "provide a one-stop shop and connectivity to multiple marketplaces through one gateway." Investors reactly positively to the news, TSX shares jumping eight per cent to $45.67.
Friday 02 May 2008 OTTAWA: MEASURE FOR SMALL BUSINESS REPORTED ON SCHEDULE
The federal government says it's on target to reduce bureaucratic procedures for small business by 20 per cent by November. The secretary of state for small business, Diane Ablonczy, says measure are already being implemented on the recommendations of two reports by a 14-member advisory panel comprising small-business owners, business groups and government. The measures are aimed at streamlining regulations, eliminating duplication requirements and reducing numbers of times documents have to be filed. The Canadian Federation of Independent Business says red tape constitutes a $33-billion-a-year hidden tax and that the new measures could establish Canada as a leader in "effective, efficient, accountable legislation."
Saturday 29 March 2008 TSX to hit 16,000 in six months, Ron Meisels predicts
'A New Bull Market'
Darkening clouds may appear to be gathering over Bay Street, but one analyst sees a ray of light. Ron Meisels, president of independent market research firm Phases & Cycles, says stocks have already entered a new bull market phase and the S&P/TSX composite index should reach 16,000 within six months.
"I'm one of the very few that suggests that we're already in a bull market," he said from his offices in Montreal yesterday. "The general consensus is that we are in recession trouble and political trouble and economic trouble."
Mr. Meisels said the new bull market began on Jan. 22, when the S&P/TSX bounced off its low of 12,012 and rallied in response to the U.S. Federal Reserve's 75-basis point emergency interest rate cut. He said the index would likely continue to rise until at least September.
To the bears, the prediction may sound ludicrous. But Mr. Meisels has made some good calls in the past. In 1995, he stunned investors with a call that the Dow Jones industrial average, then at 3,800, would rise to 10,000 by the year 2000. It got there on Mar. 29, 1999.
This time round, Mr. Meisels said an upturn in the S&P/TSX moving 50-day average on March 26 showed that money was now flowing into the stockmarket. The medium-term average had been falling since the beginning of November. Also supporting the prediction is history.
"Throughout history, a major financial disaster usually signals the end of a downward period," he said. "When Penn Central went bankrupt in 1970, almost to the day the market turned around. When Enron went bankrupt [in late 2001], almost to the day the market turned around."
He said the near collapse of investment bank Bear Stearns Cos Inc. (BSC/NYSE) was the final shock that would help the market on its up-leg.
However, he warned that investors would still need to choose their stocks carefully.
"First of all, it's not going to be a hell of a big bull market, our current target is in the 16,000 range, and we think that the stock selection will be of the utmost importance," he said. "If you're in financials, you're not going to make a hell of a lot of money, probably very little. Whereas if you are in energy and golds, you are going to continue to make good appreciation."
Mr. Meisels said utilities would be the only other sector to add momentum to the market, with industrials perhaps keeping pace.
Present stock picks in the energy sector include EnCana Corp. and Imperial Oil Ltd., while in gold and silver, he likes Barrick Gold Corp.(ABX/TSX), GoldCorp Inc. (G/TSX) and Kinross Gold Corp. (K/TSX)His top picks for utilities are Enbridge Inc. (ENB/TSX ), Fortis Inc. (FTS/TSX), Trans- Alta Corp. (TA/TSX) and TransCanada Corp.(TRP/TSX).
In the financial sector, he said stocks such as Royal Bank of Canada (RY/TSX) and TDBank (TD/TSX) would have a better chance of rising than those that have been severely punished, such as Bank of Montreal. (BMO/TSX)
Tuesday Mar 18, 2008 Bear fire sale spooks investors
The S&P/TSX composite index fell 300 points yesterday as the global financial crisis escalated to new heights.
Tuesday Mar 18, 2008 Nervous investors turning to gold
Growing market turmoil and unease about the health of financial institutions has brought a gold rush to a bullion dealer...
Tuesday 22 January 2008 TORONTO: CANADIAN MARKETS CONTINUE DECLINE
The Toronto stock market has taken its biggest one-day plunge in seven years, losing 4.75 per cent, as fears of a U.S. economic downturn sparked a violent share selloff. Canadian investors appeared unmoved by an economic stimulus plan unveiled by U.S. president George Bush on Friday. The Toronto Stock Exchange dropped 604.98 points to finish the day at 12,132.14, trimming almost $90 billion off the market's total value. That's on top of a fall last week that wiped out all the market's gains for 2007. American markets were closed Monday.
A DEAFENING CRASH
by Josh Ginsberg
January
22, 2008
Investors' ears are ringing after yesterday’s thunderous
crash of the Toronto stock market. The
National, CTV
News, the
Post, the
Citizen, the
Globe, and the Star (not available online) lead and La
Presse goes inside with the worst drop since the aftermath of 9/11.
Fears of a US recession prompted a massive selloff at the TSX, mirroring
similar developments in other world markets. Toronto stocks fell 4.74
percent, triggered, CTV and the Post report, by worries in Asia that the
Bank of China may have to write off $8 billion in US sub-prime debt.
Contributing to the chaos were fears that President George W. Bush’s
$145 billion (US) economic stimulus package was too little, too late. The
panic spread to Europe, says CTV, finally landing in Toronto. The US was
spared pain yesterday because the markets were closed for Martin Luther
King Day, but the punishment starts at opening bell today. There is no
shortage of violent metaphors in today’s coverage to describe the
carnage, ranging from the Globe’s “falling off a cliff”
to CTV News’ “mauling.” The Post steps back from the
panic and offers analysis, with Terence
Corcoran admonishing that it is “crazy to jump out the window
every time the markets rattle.” He predicts some stability retuning
to markets today, but grim developments for the longer term. Analysts
interviewed on the National and Richard Gwyn
in the Star provide some reason for optimism, with the former saying that
the crash will lead to some great deals on good stocks, and the latter
suggesting that this crisis will teach us that the market is not
invincible, and government regulation is needed to ensure stability.
Regulation? Nonsense, says John
Ivison in the Post, comparing Liberal Leader Stéphane Dion’s
plan for economic aid to Mao's Theory of Productive Forces.
CTV News started the conversation about the effect the crash will have on
Canadian politics, noting that it immediately cooled Liberal election
fever. Dion is taking a conciliatory approach, saying that he will vote
for the government’s budget if it has provisions to help Canadians
through the hard times. However, the Star sees it
differently, saying that, if the budget lacks string measures to shield
Canadians from a recession, the government will likely fall at
Dion’s hands. There are few indications of what Finance
Minister Jim Flaherty is planning to bring forward in his budget, which
could be tabled in early February, but the Star notes that, due to recent
increases in spending, he will have little room in which to maneuver. As
the
Globe reports, immediate help will come from the Bank of Canada, which
will lower the key interest rate by at least a quarter of a percentage
point today, although David Dodge, the bank’s governor, is calling
for a cut of half a point. This should come as some comfort to investors
unsure of their financial futures, but will hardly bring the rollercoaster
of a market to a halt.
-----------------------------------------------------------------
THE LEADS:
THE NATIONAL: “Dive!
Dive! Dive!: Global Markets are slapped by a big selloff and investors are
warned to brace for more”
CTV NEWS: “Stunning
Losses: Stock markets plunge around the world”
GLOBE AND MAIL: “US
recession fears spark global selloff”
TORONTO STAR: “605 points, or 4.75%” (not available online)
NATIONAL POST: “Markets
Plummet”
LA PRESSE “Canada
must stay in Afghanistan” (top non-local)
OTTAWA CITIZEN: “Prospect
of a recession in US sparks huge selloff” (top
non-local)
WSJ marketbeat | stockpickr videos
Monday Jan 21, 2008 Toronto stock plunge after sell-off in Asia and Europe
OTTAWA - Canadian stock markets plunged more than 400 points at the open Monday following in the wake of steep losses in Asia and Europe.
The losses fall on the heels of last week's nearly 1,000-point loss on the TSX Composite Index.
2007
Wednesday 12 December 2007 Merger ignites political debate
Quebec Finance Minister promises close look as PQ assails ‘buyout' by Toronto interests
QUEBEC — — Criticism in Quebec over the marriage of the Toronto and Montreal exchanges shifted to the political stage on Tuesday, as the Parti Québécois criticized the deal and the province's Finance Minister promised a thorough review.
Friday Nov 9, 2007 S&P/TSX Composite A Global Benchmark That Will Hit 16,000, CIBC's Rubin Says
The S&P/TSX composite index's heavy weighting in energy and materials will more than offset the negative effects of weakness ..
As a result, CIBC is maintaining its 12% overweight in equities. It remains 9% underweight bonds and 3% underweight cash.
Meanwhile, the firm hiked its short-term forecast for the Canadian dollar to US$1.11 by the end of the year. It also raised its 2008 price target for gold to US$900 per ounce and added a half a percentage point to its already overweight position (now 1.5%) in gold stocks.
Finally, CIBC remains 0.5% overweight in financial stocks, but trimmed its weighting in bank stocks by 1% (was equal to benchmark). Mr. Rubin said he prefers non-bank financials since they represent a "better bet against further writedowns associated with the still-imploding U.S. subprime mortgage market."
© National Post 2007
TSX risks marginalizing itself
MONTREAL — If Dubai's outclassing of Toronto was limited only to the height of its buildings, there wouldn't be much to worry about. Who really cares if the Burj Dubai soars higher than the CN Tower? When all you can see from the top are sand and the politically perilous Persian Gulf, do you really want to eat at the revolving restaurant?
No, Dubai's real threat to Toronto comes from its emergence as a hot spot of international finance. The current issue of The Economist gushes over the desert kingdom's newfound financial clout. Even more worrisome for us, the magazine's 14-page survey of global financial centres doesn't even contain the word Toronto, much less Montreal. Take that, Richard Nesbitt and Luc Bertrand. more
Sunday 19 August 2007 UNDATED: MARKETS UP AFTER FED'S MOVE
Markets around the world except in Asia rebounded on Friday after the U.S. Federal Reserve in a surprise move lowered its rate on loans charged to banks by one-half a point to 5.75 per cent. The move stopped a global slide that had lasted more than a week and started because of turbulence in credit markets. The turmoil originated in risky mortgage operations. In Toronto, the TSX closed up 201 points at 13,050, after a 200-point drop on Thursday. The development had a beneficial effect on the Canadian dollar, which closed up at US94.22. In New York, the Dow Jones closed at 13,079, up 1.82 per cent. The UK's FTSE 100 was up 3.5 per cent to 6,064. The Fed's move came after Asian markets had closed, uniformly down.
Sunday 29 July 2007ME fires up carbon futures launch
With Chicago climate exchange
Demand growing for green derivatives
The Montreal Exchange yesterday gave the long-awaited green light to the launch of a carbon futures contract in partnership with the Chicago Climate Exchange, confident it can lock on to growing demand for environmental derivative products.
Monday 16 July 2007 from Bill Copp it allows investors to profit handsomely from a bear market for stocks.The Horizons BetaPro SandP/TSX 60 Bear Plus ETF was introduced Jan. 9 and has already become the second most heavily traded of the 47 or so ETFs listed on the Toronto Stock Exchange. After more than four years of strong market returns, it's clear that many investors are worried about a serious pullback.
Gaining leverage
Horizon BetaPro has introduced a family of exchange-traded funds this year that use leverage, which in this case means that $1 invested in these ETFs give you $2 worth of market exposure. Put another way, you get 200-per-cent market exposure using these ETFs. Here's a rundown on these products.
| Fund | Symbol | MER | Mission |
| S&P/TSX 60-Bull Plus | HXU-TSX | 1.15% | 200% of the daily change in the S&P/TSX 60 index |
| S&P/TSX 60 Bear Plus | HXD-TSX | 1.15% | 200% of the inverse of the index |
| S&P/TSX Capped Financials Bull Plus | HFU-TSX | 1.15% | 200% of the daily change in the S&P/TSX capped financials index |
| S&P/TSX Capped Financials Bear Plus | HFD-TSX | 1.15% | 200% of the inverse of the index |
| S&P/TSX Capped Energy Index Bull Plus | HEU-TSX | 1.15% | 200% of the daily change in the S&P/TSX capped energy index |
| S&P/TSX Capped Energy Bear Plus | HED-TSX | 1.15% | 200% of the inverse of the index |
| S&P/TSX Global Gold Bull Plus | HGU-TSX | 1.15% | 200% of the daily change in the S&P/TSX global gold index |
| S&P/TSX Global Gold Bear Plus | HGD-TSX | 1.15% | 200% of the inverse of the index |
MAGGIE WONG/THE GLOBE AND MAIL
Sunday 17 June 2007 LA MALBAIE: INVESTORS WANT SINGLE SECURITIES REGULATOR
The Investment Industry Association of Canada has taken a stand in favour of a single national securities regulator. The Association says the current system of 13 provincial and territorial regulators is "complex and overwhelming." Its outgoing chairman, Bill Hatanaka, says that in the absence of a national regulator, Canada is at a disadvantage to compete internationally. Mr. Hatanaka is also chairman and CEO of TD Waterhouse Canada Ltd. Twelve of the 13 jurisdictions have proposed putting into place a "passport" system by which each of them would recognize decisions made by the others, a solution which Ontario, however, rejects. Mr. Hatanaka rejects it also, saying that it's unrealistic to suppose that a continued system of separate securities jurisdictions could be as efficient as a single regulator. Several provinces, including Quebec and British Columbia, fear that the centralization of securities regulation will give Ontario a preponderant and unfair role to play. The Investment Industry Association is holding its annual meeting in Quebec.
Thursday 03 May 2007 candles.com/highlights/adapting
Thursday 03 May 2007
TSX speeds toward CIBC's predicted 15,000
Index jumps 1.29% on day to 13,578. Acquisitions, resources seen propelling TSX
ERIC BEAUCHESNE,
CanWest News Service
Published: Thursday, May 03, 2007Despite the dampening impact of the strong loonie and a weaker U.S. economy that is hampering Canadian exports and the flow of American visitors here, there's increasing optimism among some investment analysts about the prospects for the Canadian stock market.
"With record private equity activity feeding a booming merger and acquisition market and continued strength in global resource prices, the TSX composite will hit a record 15,000 by year end," CIBC World Markets predicted yesterday.
That will translate into a total return, including dividend yield, of 18.5 per cent in 2007, marking the fourth straight year the Canadian index tops that of Wall St.'s S&P 500, the broad U.S. index, and reflecting another year of strong growth in earnings plus corporate takeover activity that will boost Canadian shares.
The report was issued in advance of yesterday's surge in stock markets on both sides of the border and another jump in the loonie to an eight-month high of more than 90 cents U.S.
The TSX rose 172.41 points, or 1.29 per cent, at 13,578.74. In New York, the S&P 500 closed up 9.65 at 1495.95, while the Dow Jones jumped 75.74 points to 13,211.88.
"Premiums continue to hold up, with acquirers recently paying nearly 20 per cent above the market price, on average, to land their targets," noted Jeff Rubin, chief strategist and economist at CIBC World Markets. "Such activity has already had an appreciable impact on boosting performance in such sectors as utilities, telecoms, gold and base metals."
Adding to the merger frenzy are private equity leveraged buyouts, he said, noting that last year buyout funds injected nearly $11 billion into Canadian investments, more than double the amount of the previous year.
"The recent resurgence of the leveraged buyout (LBO) market after its demise in the late 1980s has been driven by two factors - decade-low interest rates and very tame credit spreads on highly leveraged loans," Rubin said.
© The Gazette (Montreal) 2007
Thursday 03 May 2007 Canada's big banks to set up rival to TSX14
Canada's big banks to set up rival to TSX; alternative trading system would cut brokers' costs on buy and sell orders
NEW YORK, TORONTO — — — Shares of TSX Group Inc. [X-T] plunged Thursday morning after seven of Canada's biggest investment dealers banded together to create a rival share-trading system that may force the operator of the Toronto Stock Exchange to cut fees to stay competitive.
The securities arms of Canada's six largest banks, and independent dealer Canaccord Capital Inc. [CCI-T], announced this morning a plan called "Project Alpha" to create an alternative trading system (ATS) that will enable the firms to match trades internally rather than having to use the facilities of the TSX.
TSX shares fell as much as 16 per cent in early trading. By midmorning the stock had recouped some of the lost ground and changed hands for $43.40, 8.8 per cent or $4.10 below yesterday's close.
The group, led by the brokerage arm of Royal Bank of Canada [RY-T], hopes to launch its alternative trading system next year, subject to receiving the required regulatory approvals.
Tuesday 01 May 2007 Stephen Jarislowsky founder, chairman and CEO, Duration:57m 34s 
Tuesday Oct 31, 2006
TradeFreedom Market Wrap-up By TradeFreedom
Thursday 15 February 2007
Carbon trading would hit 40% of TSX: report
Companies representing 40 per cent of the Toronto Stock Exchange's total market capitalization would be directly affected by a legislated system of greenhouse gas (GHG) emissions caps and trading, and that impact will be negative for most of them, a new report from CIBC World Markets says.
Sunday 26 November 2006 TORONTO: WAITS INCREASING FOR CANADIAN PASSPORTS
Obtaining a Canadian passport could take longer than usual as a result of a recent increase in the number of people sending in applications. The increase began this month as Canadians took greater notice of a new rule that goes into effect in the United States on January 23. The rule requires air passengers from Canada, Bermuda and Mexico to present a passport when entering the USA. Americans returning home must do the same. Last week, Canada's Department of Foreign Affairs received more than ninety thousand passport applications, an increase of almost 38 per cent compared to the same week in 2005. So far this year, just over two million passport applications have been received, about two hundred thousand more than in the same period in 2005. The November-to-March period is typically the busiest time for applying for a Canadian passport.
Sunday 19 November 2006 Time to exit TSX, says Gignac
National Bank strategist says Canadian investors should pull their cash out of the S&P/TSX and move it outside the country
for Wed1278 (September 6, 2006)
CANADA
The T.S.X. plunged almost 200 points today, closing short of 12,000, caused by the continuing decline in crude oil prices to $67.50, a drop of $11.00 since its peak in mid-July and a five month low. There was also broad weakness in commodities. The market had gone up 800 points since mid-June. The economy is showing signs of slowing with a flat June and 2% growth in the second quarter following 3.6% in the first. Exports, industrial production (electricity, natural gas, mining), forest products, the auto industry and residential construction have all weakened, but government spending (+9½ %), business spending (+7.3%), household spending (+4.2%) and non-residential construction have led the domestic or internal demand to its eighth consecutive quarterly gain stronger than G.D.P. growth, a first in forty-five years. That explains Bank of Canada’s optimistic outlook of 3% growth “about its production potential,” despite over 10,000 net job loss in June-July, the weakness in wholesale. Bank of Canada remained steady at 4¼% overnight rate today. The current account in the second quarter narrowed by $4 billion to $4.2 billion after reaching a record $13 billion in the fourth quarter last year, as the trade surplus narrowed by $3.8 billion, the deficit on investment income increased by $400 million, the service deficit widened by $300 million and the travel deficit widened. The U.S. economic data released yesterday also contributed to the T.S.X. drop and the strengthening Canadian dollar (90.45¢ U.S.).
Previous Videos