TSX GROUP HISTORY AT A GLANCE: 1852-2005

The following is a timeline of significant events in the organization’s history.

1852

A group of Toronto businessmen met on July 26, 1852 with the intention to form
an “Association of Brokers”. Although they may have traded in shares that were
available at that time, no official records remain of the groups’ transactions.

1861

On October 25th, 24 men gathered at The Masonic Hall. A resolution was
passed that day and Toronto Stock Exchange was born. The cost of
membership was $5.00. In its early years the Toronto Stock Exchange trading
volume was very modest, amounting to two or three transactions daily. Trading
hours were limited to daily half-hour sessions and the trading list consisted of 18
securities.

1871

Toronto Stock Exchange had 14 member firms — each paid $250 to purchase a
seat.

1878

Toronto Stock Exchange became formally incorporated by an Act of the Ontario
Legislature.
Toronto Stock Exchange moved into its first permanent headquarters at 24 King
Street East in Toronto.

1901

The price of a Toronto Stock Exchange seat or membership rose to $12,000.
Trading volume approached 1 million shares per year and 100 companies were
listed. The Exchange moved to 20 King Street East and continuous auction
trading was introduced.

1913

The Exchange built and moved into its own building on Bay Street.
Technological advances lead to the introduction of the first print-out-ticker which
carried a series of trading prices as well as bid and ask offering quotations.

1914

The fear of financial panic when World War 1 was declared prompted Toronto
Stock Exchange to cease operations for three months, beginning July 28, 1914.
Trading was also halted on the New York Stock Exchange.

1918

As corporate profits rose during that war, so did stock prices. The 1918
Armistice marked the beginning of a highly speculative and inflationary period in
the economy. This was followed, in 1919, by a recession characterized by sharp
declines in commodity prices.

1922-1926

Canadian corporations issued securities worth more than $700 million. The
number of shares traded in 1924 was 908,000. Five years later, the number of
shares traded grew to over 10 million a year.

1933

A worldwide depression inflicted financial hardship on Canadians. In the United
States over 2000 investment and brokerage firms closed. No Toronto Stock
Exchange members defaulted on their obligations to clients.

1934

Toronto Stock Exchange merged with its key competitor, The Standard Stock
and Mining Exchange. The merged markets adopt the name, Toronto Stock
Exchange. Yearly trading value exceeded $534 million.

1936

Toronto Stock Exchange became North America’s third largest exchange.

1937

Toronto Stock Exchange moved to a new facility at 234 Bay St., the first building
in Toronto to have air conditioning.

1955

The price of Toronto Stock Exchange membership was $100,000 and a record 1
billion shares traded worth $2.6 billion.

1958

For the first time, the Toronto Stock Exchange Board of Governors required listed
companies to file statements disclosing any change in the company’s affairs,
which might affect the price of its shares.

1960

Lieutenant General of Ontario, Howard D. Graham, became the first outsider to
be appointed President of Toronto Stock Exchange. All prior presidents were
appointed from Member Firms.

1977

J. Pearce Bunting was named the President of Toronto Stock Exchange. He
held that position for 18 years, the longest tenure of any Toronto Stock Exchange President.
Toronto Stock Exchange launched the world’s first Computer Assisted Trading
System (CATS). The same year the TSE 300 Composite Index® was launched.

1980

Volume of shares traded on Toronto Stock Exchange reached 3.3 billion, valued
at $29.5 billion, and Toronto Stock Exchange accounted for 80% of all equity
trading in Canada.

1983

Toronto Stock Exchange moved to its current location in the Exchange Tower at
130 King Street West.

1987

The Toronto 35 Index® is created.
On October 19, 1987, stock markets around the world suffered a major
correction. The TSE 300 Composite Index dropped more than 400 points in
very active trading.
Trading for the year topped $100 billion for the first time ever.

1995

Rowland W. Fleming was named President of Toronto Stock Exchange,
replacing Pearce Bunting. He served as President for four years.

1996

Toronto Stock Exchange became the first exchange in North America to
introduce decimal trading.

1997

Toronto Stock Exchange became the largest stock exchange in North America to
choose a floorless, electronic (or virtual trading) environment when its trading floor closed.

1999

Toronto Stock Exchange announced the appointment of Barbara G. Stymiest to
the position of President & Chief Executive Officer. She became the first female
president of a North American stock exchange.
Through a realignment plan, Toronto Stock Exchange became Canada’s sole
exchange for the trading of senior equities. The Montreal Exchange assumed
responsibility for the trading of derivatives and the Vancouver and Alberta Stock
Exchanges merged to form Canadian Venture Exchange (CDNX) handling
trading in junior equities. The Canadian Dealing Network, Winnipeg Stock
Exchange, and equities portion of the Montreal Exchange later merged with CDNX.
Toronto Stock Exchange won Royal Assent from the Lieutenant Governor of
Ontario to convert the Exchange into a for-profit organization.
Toronto Stock Exchange set yearly trading records of 29.3 billion shares, valued
at $529 billion.

2000

Toronto Stock Exchange monthly trading topped $100 billion for the first time
ever in March 2000.
The demutualization process is completed when The Toronto Stock Exchange
Inc. became a for-profit company, on April 3.
Daily trading value topped $15 billion for the first time ever in May 2000.
Toronto Stock Exchange opened an office in Montreal.

2001

Toronto Stock Exchange completed overhaul of its trading platform.
The Toronto Stock Exchange completes the acquisition of the Canadian Venture
Exchange. CDNX renamed TSX Venture Exchange in 2002.
TSX Venture Exchange stock list migrated to the Toronto Stock Exchange
trading platform in December 2001.
S&P/CDNX Index was launched on December 10, 2001. The Index was
renamed S&P/TSX Venture Composite Index in May 2002.

2002

Standard and Poor’s agreed to take over management of the Toronto Stock
Exchange 300 Composite Index on May 1st. It is renamed the S&P/TSX Composite Index.
The Canadian Foundation for Investor Education and Capital Markets Institute at
the University of Toronto hosted a Symposium on National Securities Regulation.
TSX Markets, a business of TSX Group, implemented new trading features including POSIT and Iceberg Orders.
On April 8, 2002, The Toronto Stock Exchange Inc. re-branded its organization
and adopted the acronym TSX. Canadian Venture Exchange is renamed TSX
Venture Exchange and TSE/CDNX Markets is re-branded to TSX Markets.
TSX Group CEO Barbara Stymiest officially opened a new office in Montreal.
The office services both junior and senior issuers in Quebec.
Linda Hohol is named President of TSX Venture Exchange.
TSX Group launched TSX Datalinx, the new name for its data business.
TSX Group, through its trading services division, TSX Markets, purchased a 40
per cent equity interest in CanDeal, an electronic trading system for
institutional debt market professionals.
In September, TSX filed a preliminary prospectus for an initial public offering of its common shares.
To celebrate the 150th birthday of Toronto Stock Exchange, Canada Post issued
a commemorative postal stamp.
On October 24, 2002, Toronto Stock Exchange hosted a black tie gala dinner for 200 to celebrate its 150th birthday.
Toronto Stock Exchange set a yearly volume record of 46.3 billion shares traded.

2003

In January 2003, TSX Group Inc. declared its first quarterly dividend as a public company.
On April 29, TSX Group Inc. announced it had raised the quarterly dividend to $0.18 a share from $0.15 a share.
On May 8, TSX Group Inc. hosted its first Annual General Meeting as a public company.
In June, TSX hosts first ever “Canada Day in New York City”, showcasing
Canadian issuers to a U.S. business audience.
In August, TSX Markets launches Specialty Price Crosses, enabling participating
organizations to have great flexibility in reporting trades.
In October, TSX Group declares a special dividend of $5 for each common
share, payable December 31, 2003.
In December, TSX sets new year trading volume record of 55.5 billion shares.

2004

TSX hosts European Showcase for 10 Canadian companies in Frankfurt, Germany.
TSX Group raises quarterly dividend to $0.25 from $0.18.
TSX Group acquires NGX Canada Inc., an electronic exchange that trades and
clears natural gas and electricity contracts, for $38-million.
TSX sets new monthly trading record in January 2004 with over 7.2 billion shares changing hands.
February 2, TSX Markets launches U.S. dollar order book for trading in selected stocks.
In March, TSX launches Market on Close, a facility to stabilize orders and pricing
at the end of the trading day.
In April, TSX announces new stock symbols codes designated non-voting,
multiple-voting, limited-voting and subordinate-voting issues.
In June, TSX Canada Day in New York attracts 200 members of New York business community.
In July, TSX Group increases quarterly dividend from $0.25 to $0.33.
In September, first ever TSX Canada Day in London at The Savoy.
On December 2, Richard Nesbitt named CEO of TSX Group Inc.
In December, TSX Markets launched “Multiple Give-Up” – a feature whereby
Toronto Stock Exchange and TSX Venture Exchange investors have greater
choice in clearing and settlement decisions. …9

2005

In January, TSX Group sends a delegation to China to attract international listings.
In a speech to the New York Harvard Club in April, TSX Group CEO Richard
Nesbitt discusses what he terms the under-reported strengths of the Canadian market.
At its first Annual General Meeting in Calgary in April, TSX shareholders approve
a 2 for 1 stock split, effective May 17.
In April, TSX Group dividend is increased to $0.40 a share.
S&P announced Canada’s first independent, multi-dealer priced fixed income
index, the S&P/TSX Canadian Bond Index.
In July, TSX Group dividend is increased to $0.25 a share on a post split basis.
In October, TSX Group CEO Richard Nesbitt speaks to delegates at Security
Traders Association Conference in Boca Raton, Florida. His message is that
Canada is a compelling investment story for investors.
In October, TSX Group announced an accounting change in the reporting of
initial and additional listing fees. TSX Group now recognizes revenue from initial
and additional listing fees amortized on a straight-line basis over an estimated
service period of 10 years.
In November, TSX surpasses all-time trading value record of $944 billion.
In December, for the first time ever, trading on Toronto Stock Exchange topped
$1 trillion for the year. TSX total value traded in 2005 was $1.1 trillion, up 29% from 2004.