TSX Venture Exchange (TSE)
The TSX Venture Exchange is a stock exchange in Canada. It is headquartered in Calgary,
Alberta and has offices in Toronto, Winnipeg, Vancouver, and Montreal. It was previously
known as the Canadian Venture Exchange (CDNX), but in 2001 the TSX Group (now known
as the TMX Group) purchased it and renamed it.
The TSX deals mostly with well-established equities, while the TSX Venture Exchange
is a public venture capital marketplace for emerging companies that have not yet
met the requirements for listing on the TSX.
As of 31 December 2007, the TSX Venture Exchange had 2,176 listed companies with
a combined market capitalization of $58 billion. The Canadian Venture Exchange was
created in Canadaｏn November 29, 1999, as a result of an agreement between the Vancouver,
Alberta, Toronto and Montreal exchanges to restructure the Canadian capital markets
along the lines of market specialization.
The CDNX was created by the merger of the Vancouver Stock Exchange (VSE) and the
Alberta Stock Exchange (ASE). The focus of the CDNX was junior companies, i.e.,
those whose assets, business and market capitalization were too small to be listed
on the Toronto Stock Exchange (TSX). Often, these were resource exploration companies,
but also came to include new high technology ventures. The exchange had its corporate
headquarters in Calgary, Alberta, and its Operations headquarters in Vancouver,
British Columbia, with additional offices in Winnipeg, Toronto, and Montreal.