Since its inception, the Canadian stock market has undergone major transformations and quickly established itself as one of the largest and most innovative equity markets in the world. This is one of the reasons the best stock trading app Canada is increasingly being downloaded by traders around the world.

Toronto Stock Market

The Toronto Stock Exchange was unofficially founded in 1852 by twelve Canadian businessmen. However, it was on October 25, 1861 that its existence became official, following the adoption of a resolution by the Masonic Temple in Toronto. At this time, there are only eighteen tradable shares and transactions take place in half-hour sessions. In 1871, fourteen companies began to trade shares. To qualify for this privilege, each company had to pay the sum of two hundred and fifty dollars. By 1901, the price of the “seat” had already risen to twelve thousand dollars, and the number of transactions amounted to nearly one million a day. However, like the New York Stock Exchange, the rise of the Toronto stock market was slowed by the First World War. Despite this shutdown, the Toronto Stock Exchange continued to grow and was hardly affected by the stock market crash of 1929.

In addition, the Toronto stock market adapted very well to the technological revolution of the twentieth century, becoming in 1977 the first world stock exchange to practice computer-assisted trading. It was also in 1977 that the TSE 300 index appeared, now supplemented by the TSX Composite.

The merger of the stock markets

From 1999 to 2001, several mergers took place within Canadian stock exchanges. The Toronto stock market evolves to become TMX Group, including the Winnipeg, Calgary and Vancouver stock exchanges. In addition, the expansion of TMX Group did not stop there, as between 2007 and 2008, it was joined by the Montreal Stock Exchange. With nearly four thousand publicly traded companies in TMX Group, the Toronto Stock Exchange is the second largest in the world and attracts a growing number of traders from around the world.

At the heart of Canadian trading: reminder to travel to Canada

Since March 15, 2016, French nationals no longer need a traditional visa to travel to Canada, a simple eTA (electronic travel authorization) is required. This document constitutes the new tourist visa to travel 90 consecutive days in Canada.

The eTA request is made exclusively online and once validated, it is valid for a period of five years. In addition, the process of obtaining the electronic travel authorization is much simpler than that of the visa and the majority of applications are accepted within minutes. However, some requests may take longer to process than others, which is why it is recommended that you wait until the ETA is validated before booking a flight.

The process of acquiring an electronic travel authorization is broken down into several stages:

– complete the AVE Canada form online,

– pay the fees after completing the form,

– wait for receipt of the confirmation email.

The EIC program

For young traders wishing to discover the Canadian stock market, it is possible to enroll in the EIC ( Experience Internationale Canada) program. Accessible up to the age of thirty-five, this permit gives young French people the opportunity to come and work in Canada for a maximum period of two years. However, it is necessary to meet certain conditions to be able to apply for this scheme:

– have a valid passport for the duration of the stay,

– take out health insurance covering the entire duration of the stay,

– hold at least two thousand five hundred Canadian dollars,

– take out health insurance covering the entire duration of the stay,

– have, before departure, a return ticket or enough money to purchase one upon departure,

– have a signed contract or job offer related to their professional activity

It should be noted that this regulation is also valid for Quebec.

The Montreal Stock Market

The first financial transactions in shares in Montreal took place in 1832 at the Exchange Coffee House. However, it was not until January 23, 1874 that the Montreal Stock Exchange was officially incorporated. The first institution of its kind in Canada, its creation was the result of demand from securities brokers, whose activities continue to grow. During its first year of existence, only about sixty securities were listed on the Montreal stock market. Despite their small number, these actions demonstrate the expansion of companies.

Today’s situation

In the early 1950s, the Canadian economy migrated to the west of the country and the Montreal stock market suffered from strong competition from Toronto, whose stock market was gradually supplanting that of Quebec. To cope with this major inconvenience, the Montreal Exchange is transforming and adapting to new technologies.

In 2008, the Montreal stock exchange joined the TMX Group, thus joining the Toronto stock market. It appears that the brokerage opportunities offered by TMX Group are almost endless. So, going to Canada to discover how the Stock Exchange works is an absolutely wonderful experience.