TMX Group (TSX: X) has marked the first trading day for four letter stock symbols on Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), an industry initiative designed to offer Canadian issuers and applicants greater choice in how they are identified and also to provide interlisted issuers with the opportunity to be uniformly represented throughout the North American marketplace. Prior to this initiative, a stock’s root symbol has been limited to three letters or less.
Nick Thadaney, President & CEO, Global Equity Capital Markets, TMX Group
Nick Thadaney, President & CEO, Global Equity Capital Markets, TMX Group, said:
Across the markets we serve, TMX has moved to partner with our clients to seek out new solutions and effect positive change. We’ve seen tremendous interest from our equities markets clients in expanding to four character symbols and, with valuable support from other service providers, we have responded to meet their needs. Providing greater choice on our Exchanges remains a top priority for TMX and we look forward to exploring new opportunities to broaden our solutions and services and lead Canada’s markets into the future.
Beginning November 1, six issuers on TSX adopted four character symbols:
- Colliers International Group Inc. (CIGI),
- CounterPath Corporation (PATH),
- Enghouse Systems Limited (ENGH),
- Mercer International Inc. (MERC.U),
- ONEX Corporation (ONEX) and
- Shopify Inc. (SHOP), and
- one issuer Trakopolis IoT Corp. (TRAK) began trading on TSXV under the new symbol.
Shopify’s symbol has expanded from its original two-letter symbol, “SH” to “SHOP” on TSX, which aligns with the company’s U.S. ticker symbol. Commenting on the change, Shopify’s founder and CEO Tobi Lütke commented:
We are excited to announce 100% growth in stock ticker digits.