[Last updated: 1 January 2024, unless otherwise noted]

The Toronto Stock Exchange is commonly known as the TSX. The TSX is operated by TMX Group Limited, which also operates a number of other exchanges, including the TSX Venture Exchange (TSXV). The TSXV is recognized as the primary Canadian market for junior issuers, while the TSX is regarded as the primary Canadian market for senior issuers, together representing significant international markets in terms of capital raised and number of listed companies.

For the most part, the TSX does not recognize the difference between primary and secondary listings, and little distinction is drawn between foreign and domestic companies in terms of initial listing requirements. However, it is expected that prospective issuers with properties or business in certain emerging markets will face additional scrutiny as the TSX has issued additional guidance for the review of applications by emerging market issuers.

TSX applicants are divided among three general listing categories: industrial (general), mining and oil and gas. The listing categories are set out as follows:

• Industrial (general).
  • Profitable companies.
  • Companies forecasting profitability.
  • Technology companies.
  • Research and development companies.

• Mining companies.
  • Producing mining companies.
  • Mineral exploration and development companies.

• Oil and gas companies.
  • Producing oil and gas companies.
  • Oil and gas development stage companies.

Depending on their level of development and financial sophistication (in addition to other criteria), applicants are classified as either "exempt" or "non-exempt." Non-exempt applicants are obliged to comply with a series of "special reporting rules" in addition to further industry specific sub-category requirements.

The total market capitalization of the TSX was approximately C$4.02 trillion (approximately US$3.03 trillion) as of 30 November 2023, representing an approximate 0.2% decrease since 30 November 2022 when the market capitalization of the TSX was approximately C$4.03 trillion (approximately US$3.04 trillion).

The TSX and TSXV are global leaders in listing issuers in the resource sectors, including mining and oil and gas companies. As of 31 December 2022, approximately 40% of the world's public mining companies were listed on the TSX and TSXV, and approximately 48% of the world's mining equity financings in the five years prior thereto were completed by companies listed on the TSX and TSXV. Approximately 17% of all global public oil and gas companies are listed on the TSX and TSXV. The TSX and TSXV also list a growing number of technology and innovation companies (including those in the technology and life sciences sectors).

As of 30 November 2023, there were 1,824 companies listed on the TSX. Of these, 90 companies were foreign-based, representing approximately 5% of all TSX issuers.

In Canada, securities regulation is achieved through a combination of regulation by securities regulators, self-regulatory organizations and exchange level supervision. In the case of most public securities matters, there are issues to be addressed at each level. However, in terms of listing requirements, the TSX sets its own standards. In any case, while neither the applicable provincial or territorial securities commission nor the Canadian Investment Regulatory Organization is directly involved in the application process, these organizations impose restrictions on many other aspects of the securities regulation process.