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30-514: Katanga Mining formed two joint-venture projects with state-owned Gécamines to develop the mining complex: Kamoto Copper Company (KCC) and DRC Copper and Cobalt Project (DCP). The company was first listed on the Toronto Stock Exchange in August 1997. In January 2008 Katanga Mining acquired Nikanor plc for $ 452m. Katanga Mining was purchased by Glencore in 2020 and it was de-listed from

60-472: A broker is cost—they might be cheaper in smaller markets, with smaller accounts, or with a limited line of products. Some brokers, known as discount brokers, charge smaller commission , sometimes in exchange for offering less advice or services than full service brokerage firms. A broker-dealer is a broker that transacts for its own account, in addition to facilitating transactions for clients. Brokerage firms are generally subject to regulations based on

90-522: A dike broke at Kamoto mine, causing a sodium hydrosulphide spill that damaged crops and killed fish. Four hundred and sixty households were affected. Soil contamination had not been cleaned up later in 2018. The release of the Paradise Papers in 2017 revealed details of the 2008-2009 negotiations between Katanga and the Congolese state-owned Gécamines . Due to an impasse in negotiations, they called in

120-442: A principal party in a deal. A broker is an independent party whose services are used extensively in some industries. A broker's prime responsibility is to bring sellers and buyers together and thus a broker is the third-person facilitator between a buyer and a seller. An example would be a real estate broker who facilitates the sale of a property. Brokers can furnish market research and market data . Brokers may represent either

150-465: Is home to all of Canada's Big Five commercial banks— Canadian Imperial Bank of Commerce (CIBC), Bank of Montreal (BMO), Bank of Nova Scotia (Scotiabank), Royal Bank of Canada (RBC), and the Toronto-Dominion Bank (TD)—making the exchange the centre for banking in the country. This was seen as being most evident during the proposed mergers of Royal Bank with Bank of Montreal, and CIBC with

180-688: The 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. In 2000, the Toronto Stock Exchange became a for-profit company. In 2002 its acronym was rebranded to TSX and it became a public company . In 2001, the Toronto Stock Exchange acquired the Canadian Venture Exchange, which

210-653: The TMX Group for the trading of senior equities. The Toronto Stock Exchange likely descended from the Association of Brokers, a group formed by Toronto businessmen on July 26, 1852. No records of the group's transactions have survived. It is however known that on October 25, 1861, twenty-four brokers gathered at the Masonic Hall to create and participate in the Toronto Stock Exchange . Between 1852 and 1870, two other distinct, commodity-orientated, exchanges were founded :

240-679: The TSE 300 index and introduced the CATS (Computer Assisted Trading System), an automated trading system, and began to use it for the quotation of less liquid equities. In 1983, the TSE vacated its Art Deco headquarters on Bay Street and moved into the Exchange Tower . The old TSE building later became the Design Exchange , a museum and education centre. On April 23, 1997, the TSE's trading floor closed, making it

270-545: The Toronto Exchange in 1854 and the Toronto Stock and Mining Exchange in 1868. Initially the TSE had 13 listings but it grew to 18 in 1868 (a majority of bonds and bank's issues). Many banks of Upper Canada failed during 1869, which halted any sort of trading in the city as the market was just too small. A bull market in 1870 boosted investor's confidence and eight of the original 24 brokers joined again to re-establish

300-617: The Congolese authorities. Toronto Stock Exchange The Toronto Stock Exchange ( TSX ; French : Bourse de Toronto ) is a stock exchange located in Toronto , Ontario , Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization . Based in the EY Tower in Toronto's Financial District , the TSX is a wholly owned subsidiary of

330-532: The LSEG-TMX deal was terminated after failing to receive the minimum 67% voter approval from shareholders of TMX Group. The rejection came amidst new concerns raised by Bank of Canada governor Mark Carney regarding foreign control of clearing systems and opposition to the deal by Ontario's finance minister. On June 13, 2011, a rival and hostile bid from the Canadian-based Maple Group took place. The bid

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360-576: The S&;P/TSX 60 index, have a secondary listing on an American exchange such as the New York Stock Exchange . Brokers A broker is a person or entity that arranges transactions between a buyer and a seller . This may be done for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be confused with that of an agent —one who acts on behalf of

390-551: The T17 mine. Ore from these mines is processed at the Kamoto concentrator and the Luilu metallurgical plant . As of 2010 the open pit Kananga Mine was also the property of KCC. The mine was not active. The Dima mines, consisting of Mashamba East, Mashamba West and Dikuluwe mine were originally owned by the state-owned Gécamines before majority rights were sold to Katanga Mining and Nikanor in

420-678: The TSE. The exchange was incorporated by an act of the Legislative Assembly of Ontario in 1878. The TSE grew continuously in size and in shares traded, save for a three-month period in 1914 when the exchange was shut down for fear of financial panic due to World War I . The day of the Wall Street Crash of 1929 , Toronto's exchange was better connected to New York's and received the bad news before Montreal's (prior to 1931, exchanges communicated via telephone or by brokers' private wires, as they were not yet interconnected by ticker ). By

450-420: The Toronto Stock Exchange had 1,811 listed issuers (including ETFs and other structured financial products) with a combined market capitalization of CAD $ 4.16 trillion. Up from 1,798 listed issuers and a combined market capitalization of CAD $ 4.0 trillion as of March 2023. By the end of January 2024, the total market capitalization of companies listed on TSX & TSXV reached CAD $ 4.23 trillion. The exchange

480-557: The Toronto Stock Exchange. DRC Copper and Cobalt Project (DCP) began mining Tilwezembe , an open-pit copper and cobalt mine, in 2007. In November 2008, Katanga Mining said they had temporarily suspended mining at Tilwezembe and ore processing at the Luilu refinery in Kolwezi due to the depressed price of cobalt. Kamoto Copper Company (KCC) owns a large mining complex near Kolwezi that includes Kamoto mine , Mashamba East , KTE underground mine, Etang South underground mine, KOV mine , and

510-522: The Toronto-Dominion Bank in 1998. Then-Finance Minister Paul Martin blocked the mergers to preserve competition. The exchange is the primary listing for a number of energy companies including; Enbridge , Suncor , TC Energy , Canadian Natural Resources , Imperial Oil , Pembina and Cenovus all within the S&;P/TSX 60 index. Many of the large companies listed on the TSX, especially those on

540-662: The United States, the United Kingdom and Australia under the name TSX Financial.. The exchange has a normal trading session from 09:30am to 04:00pm ET and a post-market session from 4:15pm to 5:00pm ET on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance. 0–9 - A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z As of January 2024,

570-514: The afternoon, its three most popular stocks were down by at least 8%: International Nickel , Hiram Walker & Sons and Brazilian Light & Power . The following day, a record number of 331,000 shares changed hands on the TSE, with an overall loss of value of 20% (in Montreal, 525,000 shares and 25% loss). Meanwhile, a British Columbia gold rush in the 1890s stimulated the demand for start-up capital but Montreal and Toronto's exchanges deemed

600-549: The businessmen Dan Gertler to act as a mediator. Along with an indirect personal stake in the Katanga project, Gertler had a close personal relationship with the Congolese president's top advisor Augustin Katumba Mwanke  [ fr ; de ] , and allegedly passed along millions in bribes on behalf of Och Ziff Capital Management . Canada required a $ 20 million fine from the company in 2019 due to its unclear relationship with

630-571: The early 2000s. Following the merger with Nikanor in 2008, Katanga sold Dikuluwe and Mashamba West to Gécamines for $ 825 million. In February 2017 Glencore purchased nearly all of Gecamines interests in Katanga and the larger Mutanda mine . The smaller Katanga mine is remaining closed during 2015-2017 while new processing facilities are constructed. Prior to 2015 Katanga produced 113,000 tonnes/yr of copper while Mutanda continues to produce over 210,000 tonnes/yr February 2015, an overturned truck spilled 60 cubic metres of sulphuric acid. In January 2018,

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660-578: The exchange was closed for an entire trading day due to a technical glitch. On February 9, 2011, the London Stock Exchange announced that it had agreed to merge with the TMX Group , Toronto Stock Exchange's parent, hoping to create a combined entity with a market capitalization of $ 5.9 trillion (£3.7 trillion). Xavier Rolet , who is CEO of the LSE Group , would have headed the new enlarged company, while TMX Chief Executive Thomas Kloet would become

690-456: The new firm president. Based on data from December 30, 2010 the new stock exchange would have been the second largest in the world with a market cap 48% greater than the Nasdaq . Eight of the 15 board members of the combined entity were to be appointed by LSE, 7/15 by TMX. The provisional name for the combined group would be LTMX Group plc. About two weeks after Maple Group launched a competing bid

720-500: The second-largest stock exchange in North America to choose a floorless, electronic (or virtual trading) environment. In 1999, through a major realignment plan, Toronto Stock Exchange became Canada's sole exchange for the trading of senior equities . The Bourse de Montréal /Montreal Exchange assumed responsibility for the trading of derivatives and the Vancouver Stock Exchange and Alberta Stock Exchange merged to form

750-416: The seller or the buyer but generally not both at the same time. Brokers are expected to have the tools and resources to reach the largest possible base of buyers and sellers. They then screen these potential buyers or sellers for the perfect match. An individual producer, on the other hand, especially one new in the market, probably will not have the same access to customers as a broker. Another benefit of using

780-530: The type of brokerage and jurisdictions in which they operate. Examples of brokerage firm regulatory agencies include the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA), which regulate stockbrokers in the United States. The word "broker" derives from Old French broceur "small trader", of uncertain origin, but possibly from Old French brocheor meaning "wine retailer", which comes from

810-514: The ventures too risky. The boom was handled with the Toronto Stock and Mining Exchange, founded in 1896 and which merged with its rival Standard Stock and Mining Exchange in 1899. The SSME, after years of ups and downs, was amalgamated into the Toronto Stock Exchange in 1934. While a durable surge in mining trading was recorded in Toronto (either securities ) or other publicly listed assets, in Montreal

840-457: The volume of the equity -centric market was going down. Toronto found itself a reputation as a financial centre for mining and from 1934, the total trading volume on the TSE surpassed that of Montreal's. The TSE moved on Bay Street in 1913 and in 1937 opened a new trading floor and headquarters in an Art Deco building, still on Bay. By 1936, the Toronto Stock Exchange grew to become the third largest in North America. In 1977, it launched

870-690: Was for up to CAD$ 3.7 billion in cash and shares, in the hope of preventing a takeover of TMX by the LSEG Group. The group included leading Canadian banks and financial institutions. In March 2015, a competing exchange, Aequitas Neo, opened for trading, listing 45 issues that were only listed on the TSX. The new exchange aimed to focus on fairness, particularly in relation to what it referred to as "predatory high-frequency trading practices". The exchange planned to list additional TSX-listed securities. On May 27, 2014, TMX Group officially opened financial operations in Canada,

900-514: Was renamed the TSX Venture Exchange in 2002; this resulted in the creation of a parent to the TSX, the TSX Group . This ended 123 years of the usage of TSE as a Canadian stock exchange. On May 11, 2007, the S&P/TSX Composite , the main index of the Toronto Stock Exchange, traded above the 14,000 point level for the first time ever. On December 17, 2008, for the first time in TSX history,

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