He went on to comment on the performance of markets on both sides of the border. “Since December 31, 1999 the S&P/TSX Composite has climbed 35.8 per cent on a total return basis in Canadian dollars. Factor in the exchange rate – 15 cents on the Canadian dollar since 1999 – and you’ve got another 20 per cent. So a total return in US dollar terms of 55.8 per cent. The S&P 500 is down 8.4 per cent since 1999.”
Mr. Nesbitt used his opportunity with the U.S. audience to list some of the products and innovations from TSX Group from being the world’s first exchange to launch computerized trading (in 1977) to the first Exchange Traded Fund in the world (in 1990.) TSX also was the first exchange to introduce decimal trading and the first in North America to publicly list its shares on its own marketplace.
TSX Group Inc. operates Canada's two largest national equities exchanges – Toronto Stock Exchange serving the senior equity market and TSX Venture Exchange serving the public venture capital market. Combined, these exchanges rank as the 7th largest in the world in terms of domestic market capitalization. TSX Group's equities exchanges are world leaders in mining and energy listings and financing.
“At TSX, we run the stock exchanges where some of you have been putting your client’s money,” said Mr. Nesbitt. He added, “And where all of you should have been trading.”
Mr. Nesbitt also used his remarks to pay tribute to James Duncan of Canaccord who is ending a year as Chair of the STA. “He’s been a great ambassador for Canada here in the United States. I think he has demonstrated how much we have in common. In fact, he has demonstrated that if it weren’t for all the out-ofdate regulations and practices that are imposed on our industry, people would see Canada and the United States securities markets for what they are – a single market.”
About TSX Group Inc. (TSX-X)
TSX Group operates Canada's two national stock exchanges, Toronto Stock
Exchange serving the senior equity market and TSX Venture Exchange serving the
public venture equity market as well as Natural Gas Exchange (NGX), a leading
North American exchange for the trading and clearing of natural gas and
electricity contracts. TSX are the initials attached to the core equity
operations of TSX Group (www.tsx.com): Toronto Stock Exchange, TSX Venture
Exchange, TSX Markets, TSX Datalinx, TSX Technologies. TSX Group is
headquartered in Toronto and maintains offices in Montreal, Winnipeg, Calgary
and Vancouver.