TMX Group Limited is a Canadian financial services company that operates equities, fixed income, derivatives, and energy markets exchanges . The company provides services encompassing listings, trading, clearing, settling and depository facilities, information services as well as technology services for the international financial community.
133-676: TMX Group is best known for its stock exchanges , Toronto Stock Exchange (TSX), which serves the senior equity markets, and TSX Venture Exchange (TSXV), which serves the public venture equity market. TSXV was formerly known as the Canadian Venture Exchange (CDNX), but it also owns and operates other exchanges in Canada, including Montréal Exchange and TSX Alpha Exchange, as well as the country's depository, clearing and settlement business, CDS. TMX Group also owns and operates TMX Equity Transfer Services, Shorcan Brokers Limited,
266-583: A Platanus occidentalis (buttonwood tree) in New York City , as 24 stockbrokers signed the Buttonwood Agreement , agreeing to trade five securities under that buttonwood tree. Bombay Stock Exchange was started by Premchand Roychand in 1875. While BSE Limited is now synonymous with Dalal Street, it was not always so. In the 1850s, five stock brokers gathered together under a Banyan tree in front of Mumbai Town Hall, where Horniman Circle
399-402: A security on a particular stock exchange, the security must be listed there. Usually, there is a central location for record keeping, but trade is increasingly less linked to a physical place as modern markets use electronic communication networks , which give them advantages of increased speed and reduced cost of transactions. Trade on an exchange is restricted to brokers who are members of
532-689: A 78% stake in U.S. data analytics company VettaFi Holdings for $ 848 million. In September 2004, Stymiest announced the resignation of Barbara Stymiest as CEO of the TSX Group so that she could join the RBC Financial Group to serve as its COO . In December 2004, the TSX Group announced the appointment of Richard Nesbitt as the new CEO of TSX Group. Nesbitt had previously served as president and chief executive officer of HSBC Securities Canada . Nesbitt stepped down in January 2008, and
665-557: A building near the Town Hall until 1928. The present site near Horniman Circle was acquired by the exchange in 1928, and a building was constructed and occupied in 1930. The street on which the site is located came to be called Dalal Street in Hindi (meaning "Broker Street") due to the location of the exchange. On 31 August 1957, the BSE became the first stock exchange to be recognized by
798-408: A business to facilitate capital raising and the trading of securities in the exempt market. TSX Private Markets enables TMX Group to serve companies throughout their evolution from start-up, to private issuer, to public issuer. On October 31, 2014, TMX completed its acquisition of the microwave network business of Strike Technologies Services LLC. On June 2, 2015, TMX Group announced a realignment of
931-490: A cannon barrage for two hours, but their shot could not reach the colonists' cannons at such a height. The British gave up, boarded their ships, and sailed away. This has become known as " Evacuation Day ", which Boston still celebrates each year on March 17. After this, Washington was so impressed that he made Rufus Putnam his chief engineer. After the Revolution, Boston's long seafaring tradition helped make it one of
1064-511: A combined entity with a market capitalization of $ 5.9 billion (£3.7 billion). Xavier Rolet, CEO of the LSE Group, will head the company, while TMX Chief Executive Thomas Kloet will become president. Based on data from November 30, 2010, the new stock exchange would be the second largest in the world with a market cap 47% greater than the Nasdaq. Announced on June 1, 2011, the provisional name for
1197-579: A group of financial corporations announced plans to open a members owned exchange, MEMX , an ownership structure similar to the mutual organizations of earlier exchanges. In the 19th century, exchanges were opened to trade forward contracts on commodities . Exchange traded forward contracts are called futures contracts . These commodity markets later started offering future contracts on other products, such as interest rates and shares, as well as options contracts. They are now generally known as futures exchanges . Lists : Boston Boston
1330-475: A pair of bombs near the finish line of the Boston Marathon , killing three people and injuring roughly 264. The subsequent search for the bombers led to a lock-down of Boston and surrounding municipalities. The region showed solidarity during this time as symbolized by the slogan Boston Strong . In 2016, Boston briefly shouldered a bid as the U.S. applicant for the 2024 Summer Olympics . The bid
1463-499: A platform designed to showcase regulated growth companies listed on TSX Venture Exchange. On June 30, 2020, TMX Group integrated TMX Matrix with TMX Money , its flagship site that provides free real-time stock quotes for retail investors. In November 2022, it was announced TMX Group had acquired the Boston -based provider of global market-moving action and corporate event data, Wall Street Horizon. In December 2023, TMX Group acquired
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#17327730613951596-610: A population of 4.9 million as of 2023, making it the largest in New England and the eleventh-largest in the country . Boston was founded on the Shawmut Peninsula in 1630 by Puritan settlers. The city was named after Boston, Lincolnshire , England. During the American Revolution , Boston was home to several events that proved central to the revolution and subsequent Revolutionary War , including
1729-565: A project to improve the historic West End neighborhood. Extensive demolition was met with strong public opposition, and thousands of families were displaced. The BRA continued implementing eminent domain projects, including the clearance of the vibrant Scollay Square area for construction of the modernist style Government Center . In 1965, the Columbia Point Health Center opened in the Dorchester neighborhood,
1862-509: A report by the World Federation of Exchanges (WFE) , stock exchanges contribute to economic growth by enabling companies to access long-term capital, thereby fostering innovation and job creation. While stock exchanges are not designed to be platforms for the redistribution of wealth, they play a significant role in allowing both casual and professional stock investors to partake in the wealth generated by profitable businesses. This
1995-478: A state of defence, that I could promise myself little success in attacking them under all the disadvantages I had to encounter. William Howe, 5th Viscount Howe , in a letter to William Legge, 2nd Earl of Dartmouth , about the British army's decision to leave Boston, dated March 21, 1776. Many crucial events of the American Revolution occurred in or near Boston. The then-town's mob presence, along with
2128-409: A stock exchange, a company is required to adhere to a set of rules and regulations established by the exchange itself. These regulations serve as a framework for corporate governance, financial transparency, and accountability, thereby ensuring that listed companies operate in a manner that is conducive to investor confidence and market stability. By imposing these standards, stock exchanges contribute to
2261-401: A violent tornado , the city itself has experienced many tornado warnings . Damaging storms are more common to areas north, west, and northwest of the city. See or edit raw graph data . In 2020, Boston was estimated to have 691,531 residents living in 266,724 households —a 12% population increase over 2010. The city is the third-most densely populated large U.S. city of over half
2394-418: A wide and varied scope of owners, companies generally tend to improve management standards and efficiency to satisfy the demands of these shareholders and the more stringent rules for public corporations imposed by public stock exchanges and the government. This improvement can be attributed in some cases to the price mechanism exerted through shares of stock, wherein the price of the stock falls when management
2527-505: Is 2 °F (−17 °C) on December 30, 1917, while the record warm daily minimum is 83 °F (28 °C) on both August 2, 1975 and July 21, 2019. Boston averages 43.6 in (1,110 mm) of precipitation a year, with 49.2 in (125 cm) of snowfall per season. Most snowfall occurs from mid-November through early April, and snow is rare in May and October. There is also high year-to-year variability in snowfall; for instance,
2660-508: Is July, with a mean temperature of 74.1 °F (23.4 °C). The coldest month is January, with a mean temperature of 29.9 °F (−1.2 °C). Periods exceeding 90 °F (32 °C) in summer and below freezing in winter are not uncommon but tend to be fairly short, with about 13 and 25 days per year seeing each, respectively. Sub- 0 °F (−18 °C) readings usually occur every 3 to 5 years. The most recent sub- 0 °F (−18 °C) reading occurred on February 4, 2023, when
2793-441: Is achieved through the distribution of dividends and the potential for stock price increases leading to capital gains. As a result, individuals who invest in stocks have the opportunity to share in the prosperity of successful companies, effectively participating in a form of wealth redistribution through their investment activities. Thus, while not the primary purpose of stock exchanges, the opportunity for individuals to benefit from
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#17327730613952926-485: Is an intellectual, technological, and political center. However, it has lost some important regional institutions, including the loss to mergers and acquisitions of local financial institutions such as FleetBoston Financial , which was acquired by Charlotte -based Bank of America in 2004. Boston-based department stores Jordan Marsh and Filene's have both merged into the New York City –based Macy's . The 1993 acquisition of The Boston Globe by The New York Times
3059-414: Is considered poor (making the firm vulnerable to a takeover by new management) or rises when management is doing well (making the firm less vulnerable to a takeover). In addition, publicly listed shares are subject to greater transparency so that investors can make informed decisions about a purchase. Consequently, it is alleged that public companies (companies that are owned by shareholders who are members of
3192-588: Is in Roxbury . Due north of the center we find the South End. This is not to be confused with South Boston which lies directly east from the South End. North of South Boston is East Boston and southwest of East Boston is the North End Unknown, A local colloquialism Boston has an area of 89.63 sq mi (232.1 km ). Of this area, 48.4 sq mi (125.4 km ), or 54%, of it
3325-463: Is land and 41.2 sq mi (106.7 km ), or 46%, of it is water. The city's elevation, as measured at Logan International Airport , is 19 ft (5.8 m) above sea level . The highest point in Boston is Bellevue Hill at 330 ft (100 m) above sea level, and the lowest point is at sea level. The city is adjacent to Boston Harbor , an arm of Massachusetts Bay , and by extension,
3458-748: Is little consensus among scholars as to when corporate stock was first traded. Some view the key event as the Dutch East India Company 's founding in 1602, while others point to much earlier developments (Bruges, Antwerp in 1531 and in Lyon in 1548). The first book in history of securities exchange, the Confusion of Confusions, was written by the Dutch-Jewish trader Joseph de la Vega and the Amsterdam Stock Exchange
3591-497: Is not limitless (it was approximately $ 15 million in 2001 for a biotechnology company). Another alternative source of cash for a private company is a corporate partner, usually an established multinational company, which provides capital for the smaller company in return for marketing rights, patent rights, or equity. Corporate partnerships have been used successfully in a large number of cases. When people draw their savings and invest in shares (through an initial public offering or
3724-580: Is now situated. A decade later, the brokers moved their location to another leafy setting, this time under banyan trees at the junction of Meadows Street and what was then called Esplanade Road, now Mahatma Gandhi Road. With a rapid increase in the number of brokers, they had to shift places repeatedly. At last, in 1874, the brokers found a permanent location, the one that they could call their own. The brokers group became an official organization known as "The Native Share & Stock Brokers Association" in 1875. The Bombay Stock Exchange continued to operate out of
3857-670: Is often considered the oldest "modern" securities market in the world. On the other hand, economist Ulrike Malmendier of the University of California at Berkeley argues that a share market existed as far back as ancient Rome , that derives from Etruscan "Argentari". In the Roman Republic , which existed for centuries before the Empire was founded, there were societates publicanorum , organizations of contractors or leaseholders who performed temple-building and other services for
3990-415: Is often the most important component of a stock market . Supply and demand in stock markets are driven by various factors that, as in all free markets , affect the price of stocks (see stock valuation ). There is usually no obligation for stock to be issued through the stock exchange itself, nor must stock be subsequently traded on an exchange. Such trading may be off exchange or over-the-counter . This
4123-475: Is open to both the large and small stock investors as minimum investment amounts are minimal. Therefore, the stock exchange provides the opportunity for small investors to own shares of the same companies as large investors. Governments at various levels may decide to borrow money to finance infrastructure projects such as sewage and water treatment works or housing estates by selling another category of securities known as bonds . These bonds can be raised through
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4256-451: Is responsible for all of TMX Group's equity listing and trading activity. Stock exchange A stock exchange , securities exchange , or bourse is an exchange where stockbrokers and traders can buy and sell securities , such as shares of stock , bonds and other financial instruments . Stock exchanges may also provide facilities for the issue and redemption of such securities and instruments and capital events including
4389-804: Is the capital and most populous city in the Commonwealth of Massachusetts in the United States . The city serves as the cultural and financial center of the New England region of the Northeastern United States . It has an area of 48.4 sq mi (125 km ) and a population of 675,647 as of the 2020 census , making it the third-largest city in the Northeast after New York City and Philadelphia . The larger Greater Boston metropolitan statistical area has
4522-523: Is the usual way that derivatives and bonds are traded. Increasingly, stock exchanges are part of a global securities market. Stock exchanges also serve an economic function in providing liquidity to shareholders in providing an efficient means of disposing of shares. In recent years, as the ease and speed of exchanging stocks over digital platforms has increased, volatility in the day-to-day market has increased, too. The beginnings of lending were in Italy in
4655-546: The Alternext , CAC Small , SDAX , TecDAX ). Alternative investment funds refer to funds that include hedge funds, venture capital, private equity, angel funds, real estate, commodities, collectibles, structured products , etc. Alternative investment funds are an alternative to traditional investment options (stocks, bonds, and cash). Companies have also raised significant amounts of capital through R&D limited partnerships . Tax law changes that were enacted in 1987 in
4788-585: The Boston Garden opening in 1928. Logan International Airport opened on September 8, 1923. Boston went into decline by the early to mid-20th century, as factories became old and obsolete and businesses moved out of the region for cheaper labor elsewhere. Boston responded by initiating various urban renewal projects, under the direction of the Boston Redevelopment Authority (BRA) established in 1957. In 1958, BRA initiated
4921-724: The Boston Massacre (1770), the Boston Tea Party (1773), Paul Revere's Midnight Ride (1775), the Battle of Bunker Hill (1775), and the Siege of Boston (1775–1776). Following American independence from Great Britain , the city continued to play an important role as a port, manufacturing hub, and center for education and culture. The city also expanded significantly beyond the original peninsula by filling in land and annexing neighboring towns. Boston's many firsts include
5054-625: The Boston Public Library , Trinity Church, single-family homes and wooden/brick multi-family row houses. The South End Historic District is the largest surviving contiguous Victorian-era neighborhood in the US. The geography of downtown and South Boston was particularly affected by the Central Artery/Tunnel Project (which ran from 1991 to 2007, and was known unofficially as the " Big Dig "). That project removed
5187-697: The Indian Government under the Securities Contracts Regulation Act. Construction of the present building, the Phiroze Jeejeebhoy Towers at Dalal Street , Fort area , began in the late 1970s and was completed and occupied by the BSE in 1980. Initially named the BSE Towers , the name of the building was changed soon after occupation, in memory of Sir Phiroze Jamshedji Jeejeebhoy , chairman of
5320-537: The North End , and the Seaport . Boston is sometimes called a "city of neighborhoods" because of the profusion of diverse subsections. The city government's Office of Neighborhood Services has officially designated 23 neighborhoods: More than two-thirds of inner Boston's modern land area did not exist when the city was founded. Instead, it was created via the gradual filling in of the surrounding tidal areas over
5453-652: The South End , the West End , the Financial District , and Chinatown . After the Great Boston fire of 1872 , workers used building rubble as landfill along the downtown waterfront. During the mid-to-late 19th century, workers filled almost 600 acres (240 ha) of brackish Charles River marshlands west of Boston Common with gravel brought by rail from the hills of Needham Heights. The city annexed
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5586-633: The São Paulo Stock Exchange (2007). The Shenzhen Stock Exchange and Shanghai Stock Exchange can be characterized as quasi-state institutions insofar as they were created by government bodies in China and their leading personnel are directly appointed by the China Securities Regulatory Commission . Another example is Tashkent Stock Exchange established in 1994, three years after the collapse of
5719-767: The seasoned equity offering of an already listed company), it usually leads to rational allocation of resources because funds, which could have been consumed, or kept in idle deposits with banks, are mobilized and redirected to help companies' management boards finance their organizations. This may promote business activity with benefits for several economic sectors such as agriculture, commerce and industry, resulting in stronger economic growth and higher productivity levels of firms. Companies view acquisitions as an opportunity to expand product lines , increase distribution channels, hedge against volatility , increase their market share , or acquire other necessary business assets . A takeover bid or mergers and acquisitions through
5852-544: The stock indexes can be an indicator of the general trend in the economy. Stock exchanges offer employment opportunities to various individuals such as jobbers and other members who perform activities within the stock exchange. This makes the stock exchange a source of employment, not only for investors but also for the members and their employees. The diverse range of roles within the stock exchange, including trading, analysis, compliance, and administrative functions, creates an ecosystem of employment opportunities that support
5985-508: The stock market is one of the simplest and most common ways for a company to grow by acquisition or fusion. By going public and listing on a stock exchange, companies gain access to a broader pool of investors, which can provide the necessary funds for expansion, research and development, and other growth initiatives. Additionally, being listed on a stock exchange enhances a company's visibility and credibility, making it more attractive to potential partners, customers, and employees. According to
6118-412: The 1970s, the city's economy had begun to recover after 30 years of economic downturn. A large number of high-rises were constructed in the Financial District and in Boston's Back Bay during this period. This boom continued into the mid-1980s and resumed after a few pauses. Hospitals such as Massachusetts General Hospital , Beth Israel Deaconess Medical Center , and Brigham and Women's Hospital lead
6251-457: The 19th century, Boston's core neighborhoods had become enclaves of ethnically distinct immigrants with their residence yielding lasting cultural change. Italians became the largest inhabitants of the North End , Irish dominated South Boston and Charlestown , and Russian Jews lived in the West End . Irish and Italian immigrants brought with them Roman Catholicism. Currently, Catholics make up Boston's largest religious community, and
6384-643: The 20th century: Horticultural Hall , the Tennis and Racquet Club , Isabella Stewart Gardner Museum , Fenway Studios , Jordan Hall , and the Boston Opera House . The Longfellow Bridge , built in 1906, was mentioned by Robert McCloskey in Make Way for Ducklings , describing its "salt and pepper shakers" feature. Fenway Park , home of the Boston Red Sox , opened in 1912, with
6517-622: The Americas were overblown. In London, Parliament passed the Bubble Act , which stated that only royally chartered companies could issue public shares. In Paris, Law was stripped of office and fled the country. Stock trading was more limited and subdued in subsequent decades. Yet the market survived, and by the 1790s shares were being traded in the young United States. On May 17, 1792, the New York Stock Exchange opened under
6650-598: The Atlantic Ocean. Boston is surrounded by the Greater Boston metropolitan region. It is bordered to the east by the town of Winthrop and the Boston Harbor Islands , to the northeast by the cities of Revere , Chelsea and Everett , to the north by the cities of Somerville and Cambridge , to the northwest by Watertown , to the west by the city of Newton and town of Brookline , to
6783-620: The BSE share which is traded in NSE only closed with ₹999. Stock exchanges have multiple roles in the economy. This may include the following: Besides the borrowing capacity provided to an individual or firm by the banking system , in the form of credit or a loan, a stock exchange provides companies with the facility to raise capital for expansion through selling shares to the investing public. Capital intensive companies, particularly high tech companies, typically need to raise high volumes of capital in their early stages. For this reason,
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#17327730613956916-452: The BSE since 1966, following his death. In 1986, the BSE developed the S&;P BSE SENSEX index, giving the BSE a means to measure the overall performance of the exchange. In 2000, the BSE used this index to open its derivatives market, trading S&P BSE SENSEX futures contracts. The development of S&P BSE SENSEX options along with equity derivatives followed in 2001 and 2002, expanding
7049-505: The BSE's trading platform. Historically an open outcry floor trading exchange, the Bombay Stock Exchange switched to an electronic trading system developed by Cmc ltd . in 1995. It took the exchange only 50 days to make this transition. This automated, screen-based trading platform called BSE On-Line Trading (BOLT) had a capacity of 8 million orders per day. Now BSE has raised capital by issuing shares and as on 3 May 2017
7182-796: The Canadian Derivatives Clearing Corporation (CDCC), as well as stakes in both CanDeal.ca Inc. and BOX Options Exchange . Other notable subsidiaries of TMX Group include Trayport Limited, the developer of the Joule electronic trading platform for energy markets, and TMX Datalinx, which provides data products and services. TMX Group is headquartered in Toronto and operates offices across Canada ( Montreal , Calgary and Vancouver ), in key U.S. markets ( New York City , Houston , Boston and Chicago ), and overseas ( London , Beijing , Singapore and Sydney ). In 2001,
7315-577: The English town ultimately derives from its patron saint, St. Botolph , in whose church John Cotton served as the rector until his emigration with Johnson. In early sources, Lincolnshire's Boston was known as "St. Botolph's town", later contracted to "Boston". Before this renaming, the settlement on the peninsula had been known as "Shawmut" by William Blaxton and "Tremontaine" by the Puritan settlers he had invited. Prior to European colonization ,
7448-553: The ISIN system is used worldwide by funds, companies, and governments. However, when poor financial, ethical or managerial records become public, stock investors tend to lose money as the stock and the company tend to lose value. In the stock exchanges, shareholders of underperforming firms are often penalized by significant share price decline, and they tend as well to dismiss incompetent management teams. As opposed to other businesses that require huge capital outlay, investing in shares
7581-512: The Irish have played a major role in Boston politics since the early 20th century; prominent figures include the Kennedys , Tip O'Neill , and John F. Fitzgerald . Between 1631 and 1890, the city tripled its area through land reclamation by filling in marshes, mud flats, and gaps between wharves along the waterfront. Reclamation projects in the middle of the century created significant parts of
7714-579: The John Hancock Tower is the old John Hancock Building with its prominent illuminated beacon , the color of which forecasts the weather. Downtown and its immediate surroundings (including the Financial District, Government Center, and South Boston ) consist largely of low-rise masonry buildings – often federal style and Greek revival – interspersed with modern high-rises. Back Bay includes many prominent landmarks, such as
7847-470: The LSE agreement would be valued at $ 48.90 per share versus the $ 48 per share of Maple. The exchanges also pledged to maintain the dividend at least as high as the current TMX annual payout, which is C$ 1.60 a share. On June 29, LSEG and TMX terminated the merger plans after it appeared that the merger would not be approved by the needed two-thirds majority of TMX shareholders. On July 11, 2012, Maple Group's deal
7980-481: The National Bank of Canada and also TMX Group's largest individual shareholder. On June 22, 2011, the LSE Group and TMX agreed to pay a special dividend to shareholders. The special dividend is meant to sway voters away from Maple Group's rival bid. The dividend was valued at $ 678 million, with TMX shareholders receiving $ 4 per share and LSE shareholders receiving $ 1.36 per share. Including the special dividend,
8113-735: The Renew Boston Whole Building Incentive which reduces the cost of living in buildings that are deemed energy efficient. Under the Köppen climate classification , Boston has either a hot-summer humid continental climate (Köppen Dfa ) under the 0 °C (32.0 °F) isotherm or a humid subtropical climate (Köppen Cfa ) under the −3 °C (26.6 °F) isotherm. Summers are warm to hot and humid, while winters are cold and stormy, with occasional periods of heavy snow. Spring and fall are usually cool and mild, with varying conditions dependent on wind direction and
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#17327730613958246-678: The Soviet Union, mainly state-owned but has a form of a public corporation ( joint-stock company ). Korea Exchange (KRX) owns 25% less one share of the Tashkent Stock Exchange. In 2018, there were 15 licensed stock exchanges in the United States, of which 13 actively traded securities. All of these exchanges were owned by three publicly traded multinational companies, Intercontinental Exchange , Nasdaq, Inc. , and Cboe Global Markets , except one, IEX . In 2019,
8379-627: The Toronto Stock Exchange acquired the Canadian Venture Exchange (formed by the merger of the Vancouver Stock Exchange and Alberta Stock Exchange on November 29, 1999), which was renamed the TSX Venture Exchange on July 31, 2001. The acquisition was carried out through a parent company, TSX Group Inc. The Montreal Exchange was acquired on December 10, 2007, for C$ 1.31 Billion. The acquisition
8512-515: The United States changed the tax deductibility of investments in R&;D limited partnerships. In order for a partnership to be of interest to investors today, the cash on cash return must be high enough to entice investors. A general source of capital for startup companies has been venture capital . This source remains largely available today, but the maximum statistical amount that the venture company firms in aggregate will invest in any one company
8645-498: The United States' first public park ( Boston Common , 1634), the first public school ( Boston Latin School , 1635), and the first subway system ( Tremont Street subway , 1897). Boston has emerged as a global leader in higher education and research and the largest biotechnology hub in the world. The city is also a national leader in scientific research, law, medicine, engineering, and business. With nearly 5,000 startup companies,
8778-471: The Western Hemisphere. The first European to live in what would become Boston was a Cambridge -educated Anglican cleric named William Blaxton . He was the person most directly responsible for the foundation of Boston by Puritan colonists in 1630. This occurred after Blaxton invited one of their leaders, Isaac Johnson , to cross Back Bay from the failing colony of Charlestown and share
8911-422: The act as an attempt to force them to accept the taxes established by the Townshend Acts . The act prompted the Boston Tea Party , where a group of angered Bostonians threw an entire shipment of tea sent by the East India Company into Boston Harbor . The Boston Tea Party was a key event leading up to the revolution, as the British government responded furiously with the Coercive Acts , demanding compensation for
9044-535: The adjacent towns of South Boston (1804), East Boston (1836), Roxbury (1868), Dorchester (including present-day Mattapan and a portion of South Boston ) (1870), Brighton (including present-day Allston ) (1874), West Roxbury (including present-day Jamaica Plain and Roslindale ) (1874), Charlestown (1874), and Hyde Park (1912). Other proposals were unsuccessful for the annexation of Brookline , Cambridge, and Chelsea . Many architecturally significant buildings were built during these early years of
9177-399: The angry colonists. This did not sit well with the colonists, however. In 1770, during the Boston Massacre , British troops shot into a crowd that had started to violently harass them. The colonists compelled the British to withdraw their troops. The event was widely publicized and fueled a revolutionary movement in America. In 1773, Parliament passed the Tea Act . Many of the colonists saw
9310-414: The appointment of Deana Djurdjevic to senior vice president, Equities Trading. On March 17, 2014, TMX Group announced that chief executive Thomas Kloet would retire from the company effective August 31, 2014. The company later announced on August 12, 2014, that Kloet would remain in the role of CEO until October 31, 2014. On September 29, 2014, TMX Group announced that it had selected Lou Eccleston to lead
9443-426: The area. Nevertheless, the city experienced conflict starting in 1974 over desegregation busing , which resulted in unrest and violence around public schools throughout the mid-1970s. Boston has also experienced gentrification in the latter half of the 20th century, with housing prices increasing sharply since the 1990s when the city's rent control regime was struck down by statewide ballot proposition . Boston
9576-538: The book described a market that was sophisticated but also prone to excesses, and de la Vega offered advice to his readers on such topics as the unpredictability of market shifts and the importance of patience in investment. In England, the Dutch King William III sought to modernize the kingdom's finances to pay for its wars, and thus the first government bonds were issued in 1693 and the Bank of England
9709-605: The centuries. This was accomplished using earth from the leveling or lowering of Boston's three original hills (the "Trimountain", after which Tremont Street is named), as well as with gravel brought by train from Needham to fill the Back Bay . Christian Science Center , Copley Square , Newbury Street , and New England's two tallest buildings: the John Hancock Tower and the Prudential Center . Near
9842-460: The city government. A climate action plan from 2019 anticipates 2 ft (1 m) to more than 7 ft (2 m) of sea-level rise in Boston by the end of the 21st century. Many older buildings in certain areas of Boston are supported by wooden piles driven into the area's fill; these piles remain sound if submerged in water, but are subject to dry rot if exposed to air for long periods. Groundwater levels have been dropping in many areas of
9975-403: The city is considered a global pioneer in innovation and entrepreneurship , and more recently in artificial intelligence . Boston's economy also includes finance , professional and business services, information technology , and government activities. Boston households provide the highest average rate of philanthropy in the nation, and the city's businesses and institutions rank among
10108-464: The city often receives sea breezes , especially in the late spring, when water temperatures are still quite cold and temperatures at the coast can be more than 20 °F (11 °C) colder than a few miles inland, sometimes dropping by that amount near midday. Thunderstorms typically occur from May to September; occasionally, they can become severe, with large hail , damaging winds, and heavy downpours. Although downtown Boston has never been struck by
10241-443: The city's economy, and the city's industrial manufacturing overtook international trade in economic importance by the mid-19th century. The small rivers bordering the city and connecting it to the surrounding region facilitated shipment of goods and led to a proliferation of mills and factories. Later, a dense network of railroads furthered the region's industry and commerce. During this period, Boston flourished culturally as well. It
10374-414: The city, due in part to an increase in the amount of rainwater discharged directly into sewers rather than absorbed by the ground. The Boston Groundwater Trust coordinates monitoring groundwater levels throughout the city via a network of public and private monitoring wells. The city developed a climate action plan covering carbon reduction in buildings, transportation, and energy use. The first such plan
10507-594: The colonists' growing lack of faith in either Britain or its Parliament , fostered a revolutionary spirit there. When the British parliament passed the Stamp Act in 1765, a Boston mob ravaged the homes of Andrew Oliver , the official tasked with enforcing the Act, and Thomas Hutchinson , then the Lieutenant Governor of Massachusetts. The British sent two regiments to Boston in 1768 in an attempt to quell
10640-469: The combined group would be LTMX Group plc. On June 13, 2011, a rival bid from the Maple Group of Canadian interests, was unveiled: a cash and stock bid of $ 3.7 billion CAD, in hopes of blocking the LSE Group's takeover of TMX. The group is composed of the leading banks and financial institutions of Canada. Luc Bertrand, spokesman for Maple Group and one of the drivers of the bid, is vice chairman of
10773-474: The commander-in-chief of the British forces in North America, led the British army in the siege. On June 17, the British captured Charlestown (now part of Boston) during the Battle of Bunker Hill . The British army outnumbered the militia stationed there, but it was a pyrrhic victory for the British because their army suffered irreplaceable casualties. It was also a testament to the skill and training of
10906-479: The company has demonstrated credibility and potential from successful outcomes: clinical trials, market research, patent registrations, etc. This shift in market expectations has led to an increased reliance on private equity and venture capital funding in the early stages of high-tech companies. This is quite different from the situation of the 1990s to early-2000s period, when a number of companies (particularly Internet boom and biotechnology companies) went public in
11039-475: The creation of Boston baked beans . Boston's economy stagnated in the decades prior to the Revolution. By the mid-18th century, New York City and Philadelphia had surpassed Boston in wealth. During this period, Boston encountered financial difficulties even as other cities in New England grew rapidly. The weather continuing boisterous the next day and night, giving the enemy time to improve their works, to bring up their cannon, and to put themselves in such
11172-664: The destroyed tea from the Bostonians. This angered the colonists further and led to the American Revolutionary War . The war began in the area surrounding Boston with the Battles of Lexington and Concord . Boston itself was besieged for almost a year during the siege of Boston , which began on April 19, 1775. The New England militia impeded the movement of the British Army . Sir William Howe , then
11305-466: The elevated Central Artery and incorporated new green spaces and open areas. Boston is located within the Boston Basin ecoregion , which is characterized by low and rolling hills with a number of ponds, lakes, and reservoirs. Forests are mainly transition hardwoods such as oak - hickory mixed with white pine . As a coastal city built largely on fill , sea-level rise is of major concern to
11438-400: The exchange. In recent years, various other trading venues such as electronic communication networks, alternative trading systems and " dark pools " have taken much of the trading activity away from traditional stock exchanges. Initial public offerings of stocks and bonds to investors is done in the primary market and subsequent trading is done in the secondary market . A stock exchange
11571-541: The first Community Health Center in the United States. It mostly served the massive Columbia Point public housing complex adjoining it, which was built in 1953. The health center is still in operation and was rededicated in 1990 as the Geiger-Gibson Community Health Center. The Columbia Point complex itself was redeveloped and revitalized from 1984 to 1990 into a mixed-income residential development called Harbor Point Apartments. By
11704-461: The first wave of European immigrants . Irish immigrants dominated the first wave of newcomers during this period, especially following the Great Famine ; by 1850, about 35,000 Irish lived in Boston . In the latter half of the 19th century, the city saw increasing numbers of Irish, Germans , Lebanese , Syrians, French Canadians , and Russian and Polish Jews settling there. By the end of
11837-461: The fortifications and dozens of cannons on Dorchester Heights that Henry Knox had laboriously brought through the snow from Fort Ticonderoga . The astonished British awoke the next morning to see a large array of cannons bearing down on them. General Howe is believed to have said that the Americans had done more in one night than his army could have done in six months. The British Army attempted
11970-441: The general public and trade shares on public exchanges) tend to have better management records than privately held companies (those companies where shares are not publicly traded, often owned by the company founders, their families and heirs, or otherwise by a small group of investors). Despite this claim, some well-documented cases are known where it is alleged that there has been considerable slippage in corporate governance on
12103-551: The government. One such service was the feeding of geese on the Capitoline Hill as a reward to the birds after their honking warned of a Gallic invasion in 390 B.C. Participants in such organizations had partes or shares, a concept mentioned various times by the statesman and orator Cicero . In one speech, Cicero mentions "shares that had a very high price at the time". Such evidence, in Malmendier's view, suggests
12236-566: The instruments were tradable, with fluctuating values based on an organization's success. The societas declined into obscurity in the time of the emperors, as most of their services were taken over by direct agents of the state. Tradable bonds as a commonly used type of security were a more recent innovation, spearheaded by the Italian city-states of the late medieval and early Renaissance periods. Joseph de la Vega , also known as Joseph Penso de la Vega and by other variations of his name,
12369-442: The late Middle Ages. In the 14th century, Venetian lenders would carry slates with information on the various issues for sale and meet with clients, much like a broker does today. Venetian merchants introduced the principle of exchanging debts between moneylenders ; a lender looking to unload a high-risk, high-interest loan might exchange it for a different loan with another lender. These lenders also bought government debt issues. As
12502-586: The launch of the S&P/TSX High Income Energy Index. The new index was licensed by S&P Dow Jones Indices to Guggenheim Investments for an Exchange Traded Fund listed on the New York Stock Exchange. On February 12, 2014, TSX Venture Exchange announced the 2014 TSX Venture 50, an annual ranking of strong performing companies from five sectors: Clean Technology, Diversified Industries, Mining, Oil & Gas, and Technology & Life Sciences. On March 25, 2014, TMX Group announced plans to launch
12635-445: The major stock exchanges have demutualized , where the members sell their shares in an initial public offering . In this way the mutual organization becomes a corporation, with shares that are listed on a stock exchange. Examples are Australian Securities Exchange (1998), Euronext (merged with New York Stock Exchange), NASDAQ (2002), Bursa Malaysia (2004), the New York Stock Exchange (2005), Bolsas y Mercados Españoles , and
12768-536: The militia, as their stubborn defense made it difficult for the British to capture Charlestown without suffering further irreplaceable casualties. Several weeks later, George Washington took over the militia after the Continental Congress established the Continental Army to unify the revolutionary effort. Both sides faced difficulties and supply shortages in the siege, and the fighting
12901-468: The most prominent stock exchanges around the world in the total absence of sales, earnings, or any type of well-documented promising outcome. Though it is not as common, it still happens that highly speculative and financially unpredictable hi-tech startups are listed for the first time in a major stock exchange. Additionally, there are smaller, specialized entry markets for these kind of companies with stock indexes tracking their performance (examples include
13034-634: The nation in medical innovation and patient care. Schools such as the Boston Architectural College , Boston College , Boston University , the Harvard Medical School , Tufts University School of Medicine , Northeastern University , Massachusetts College of Art and Design , Wentworth Institute of Technology , Berklee College of Music , the Boston Conservatory , and many others attract students to
13167-572: The nation's busiest ports for both domestic and international trade. Boston's harbor activity was significantly curtailed by the Embargo Act of 1807 (adopted during the Napoleonic Wars ) and the War of 1812 . Foreign trade returned after these hostilities, but Boston's merchants had found alternatives for their capital investments in the meantime. Manufacturing became an important component of
13300-621: The natural evolution of their business continued, the lenders began to sell debt issues to the first individual investors. The Venetians were the leaders in the field and the first to start trading securities from other governments, yet did not embark on private trade with India. Nor did the Italians connect on land with the Chinese Silk Road . Along the potential overland trade route, Holy Roman Emperor Frederick II repulsed advances by Mongol Batu Kahn ( Golden Horde ) in 1241. There
13433-419: The official name from the "Town of Boston" to the "City of Boston", and on March 19, 1822, the people of Boston accepted the charter incorporating the city. At the time Boston was chartered as a city, the population was about 46,226, while the area of the city was only 4.8 sq mi (12 km ). In the 1820s, Boston's population grew rapidly, and the city's ethnic composition changed dramatically with
13566-417: The operations and functions of the exchange. Additionally, the stock exchange's role in facilitating capital formation and investment in businesses also indirectly contributes to job creation and economic growth, making it a significant player in the employment landscape. The stock exchange plays a role in regulating companies by exerting a significant influence on their management practices. To be listed on
13699-518: The organization as its CEO effective November 3, 2014. On March 2, 2015, TMX Group announced the promotion of Cheryl Graden to senior vice president, Group Head of Legal and Business Affairs and Corporate Secretary. She was also appointed an officer of TMX Group Limited and its subsidiaries. On July 16, 2015, TMX Group announced that it had named Nicholas Thadaney, president & CEO, Global Equity Capital Markets effective September 1, 2015. Mr. Thadaney, who reports to TMX Group's Chief Executive Officer,
13832-409: The organization. The changes follow the completion of an in-depth strategic review of the organization, which began in January 2015. On June 16, 2015, TMX Group announced a new initiative. AgriClear, an online platform designed to provide U.S. and Canadian cattle buyers and sellers with an efficient, cost-effective transaction and payment service. On November 12, 2018, TMX Group launched TMX Matrix ,
13965-628: The overall integrity and reliability of the financial markets, fostering an environment where companies are held accountable for their actions and decisions, ultimately benefiting both investors and the broader economy. Each stock exchange imposes its own listing requirements upon companies that want to be listed on that exchange. Such conditions may include minimum number of shares outstanding, minimum market capitalization, and minimum annual income. The listing requirements imposed by some stock exchanges include: Stock exchanges originated as mutual organizations , owned by its member stockbrokers. However,
14098-873: The part of some public companies, particularly in the cases of accounting scandals . The policies that led to the dot-com bubble in the late 1990s and the subprime mortgage crisis in 2007–08 are also examples of corporate mismanagement. The mismanagement of companies such as Pets.com (2000), Enron (2001), One.Tel (2001), Sunbeam Products (2001), Webvan (2001), Adelphia Communications Corporation (2002), MCI WorldCom (2002), Parmalat (2003), American International Group (2008), Bear Stearns (2008), Lehman Brothers (2008), General Motors (2009) and Satyam Computer Services (2009) all received plenty of media attention. Many banks and companies worldwide utilize securities identification numbers ( ISIN ) to identify, uniquely, their stocks, bonds and other securities. Adding an ISIN code helps to distinctly identify securities and
14231-466: The payment of income and dividends . Securities traded on a stock exchange include stock issued by listed companies , unit trusts , derivatives , pooled investment products and bonds. Stock exchanges often function as "continuous auction" markets with buyers and sellers consummating transactions via open outcry at a central location such as the floor of the exchange or by using an electronic system to process financial transactions. To be able to trade
14364-564: The peninsula. The Puritans made the crossing in September 1630. Puritan influence on Boston began even before the settlement was founded with the 1629 Cambridge Agreement . This document created the Massachusetts Bay Colony and was signed by its first governor John Winthrop . Puritan ethics and their focus on education also influenced the early history of the city. America's first public school, Boston Latin School ,
14497-461: The position of the jet stream . Prevailing wind patterns that blow offshore minimize the influence of the Atlantic Ocean. However, in winter, areas near the immediate coast often see more rain than snow, as warm air is sometimes drawn off the Atlantic. The city lies at the border between USDA plant hardiness zones 6b (away from the coastline) and 7a (close to the coastline). The hottest month
14630-412: The principal when the bonds mature. At the stock exchange, share prices rise and decreases depending, largely, on economic forces. Share prices tend to rise or remain stable when companies and the economy in general show signs of stability and growth. A recession , depression , or financial crisis could eventually lead to a stock market crash . Therefore, the movement of share prices and in general of
14763-439: The public market provided by the stock exchanges has been one of the most important funding sources for many capital intensive startups . In the 1990s and early 2000s, hi-tech listed companies experienced a boom and bust in the world's major stock exchanges. Since then, it has been much more demanding for the high-tech entrepreneur to take his/her company public, unless either the company is already generating sales and earnings, or
14896-630: The region surrounding present-day Boston was inhabited by the Massachusett people who had small, seasonal communities. When a group of settlers led by John Winthrop arrived in 1630, the Shawmut Peninsula was nearly empty of the Native people, as many had died of European diseases brought by early settlers and traders. Archaeological excavations unearthed one of the oldest fishweirs in New England on Boylston Street , which Native people constructed as early as 7,000 years before European arrival in
15029-606: The southwest by the town of Dedham and small portions of Needham and Canton , and to the southeast by the town of Milton , and the city of Quincy . The Charles River separates Boston's Allston-Brighton , Fenway-Kenmore and Back Bay neighborhoods from Watertown and Cambridge, and most of Boston from its own Charlestown neighborhood. The Neponset River forms the boundary between Boston's southern neighborhoods and Quincy and Milton . The Mystic River separates Charlestown from Chelsea and Everett, and Chelsea Creek and Boston Harbor separate East Boston from Downtown ,
15162-440: The stock exchange whereby members of the public buy them, thus loaning money to the government. The issuance of such bonds can obviate, in the short term, direct taxation of citizens to finance development—though by securing such bonds with the full faith and credit of the government instead of with collateral, the government must eventually tax citizens or otherwise raise additional funds to make any regular coupon payments and refund
15295-470: The success of businesses can be seen as a form of wealth redistribution within the financial markets. Both casual and professional stock investors , as large as institutional investors or as small as an ordinary middle-class family , through dividends and stock price increases that may result in capital gains , share in the wealth of profitable businesses. Unprofitable and troubled businesses may result in capital losses for shareholders. By having
15428-509: The temperature dipped down to −10 °F (−23 °C); this was the lowest temperature reading in the city since 1957. In addition, several decades may pass between 100 °F (38 °C) readings; the last such reading occurred on July 24, 2022. The city's average window for freezing temperatures is November 9 through April 5. Official temperature records have ranged from −18 °F (−28 °C) on February 9, 1934, up to 104 °F (40 °C) on July 4, 1911. The record cold daily maximum
15561-612: The top in the nation for environmental sustainability and new investment. Isaac Johnson , in one of his last official acts as the leader of the Charlestown community before he died on September 30, 1630, named the then-new settlement across the river "Boston". The settlement's name came from Johnson's hometown of Boston, Lincolnshire , from which he, his wife (namesake of the Arbella ) and John Cotton (grandfather of Cotton Mather ) had emigrated to New England . The name of
15694-467: The winter of 2011–12 saw only 9.3 in (23.6 cm) of accumulating snow, but the previous winter, the corresponding figure was 81.0 in (2.06 m). The city's coastal location on the North Atlantic makes the city very prone to nor'easters , which can produce large amounts of snow and rain. Fog is fairly common, particularly in spring and early summer. Due to its coastal location,
15827-511: The world among global exchanges by number of new listings for the fourth consecutive year, according to data from the World Federation of Exchanges (WFE) as of December 31, 2012. On February 13, 2013, TMX Group announced it had entered into an agreement with Equity Financial Holdings Inc. (Equity) to acquire its transfer agent and corporate trust services business. On July 25, 2013, the S&P Dow Jones Indices and TMX Group announced
15960-410: Was acting in effect as France's central banker. Investors snapped up shares in both, and whatever else was available. In 1720, at the height of the mania, there was even an offering of "a company for carrying out an undertaking of great advantage, but nobody to know what it is". By the end of that same year, share prices had started collapsing, as it became clear that expectations of imminent wealth from
16093-736: Was admired for its rarefied literary life and generous artistic patronage . Members of old Boston families—eventually dubbed the Boston Brahmins —came to be regarded as the nation's social and cultural elites. They are often associated with the American upper class , Harvard University , and the Episcopal Church . Boston was a prominent port of the Atlantic slave trade in the New England Colonies , but
16226-401: Was an Amsterdam trader from a Spanish Jewish family and a prolific writer as well as a successful businessman in 17th-century Amsterdam. His 1688 book Confusion of Confusions explained the workings of the city's stock market . It was the earliest book about stock trading and inner workings of a stock market, taking the form of a dialogue between a merchant, a shareholder and a philosopher,
16359-663: Was approved by all federal and provincial regulatory authorities, including the Ontario Securities Commission and the Autorité des marchés financiers . On July 31, 2012, Maple Group announced that it won control of the TMX Group, as 91% of shares were tendered for its takeover offer. The formal vote for the deal will take place in September. On January 21, 2013, TMX Group announced that combined, Toronto Stock Exchange and TSX Venture Exchange were first in
16492-549: Was commissioned in 2007, with updates released in 2011, 2014, and 2019. This plan includes the Building Energy Reporting and Disclosure Ordinance, which requires the city's larger buildings to disclose their yearly energy and water use statistics and to partake in an energy assessment every five years. A separate initiative, Resilient Boston Harbor, lays out neighborhood-specific recommendations for coastal resilience . In 2013, Mayor Thomas Menino introduced
16625-544: Was completed on May 1, 2008, and the corporation subsequently renamed to TMX Group Inc. On June 11, 2008, at a meeting of shareholders of TSX Group Inc, a resolution to change the name of the corporation to TMX Group Inc. was put forward. The formal vote for the deal took place in September. On February 9, 2011, the London Stock Exchange Group announced that they had agreed to merge with the TMX, creating
16758-468: Was founded in Boston in 1635. Boston was the largest town in the Thirteen Colonies until Philadelphia outgrew it in the mid-18th century. Boston's oceanfront location made it a lively port , and the then-town primarily engaged in shipping and fishing during its colonial days. Boston was a primary stop on a Caribbean trade route and imported large amounts of molasses, which led to
16891-433: Was limited to small-scale raids and skirmishes. The narrow Boston Neck, which at that time was only about a hundred feet wide, impeded Washington's ability to invade Boston, and a long stalemate ensued. A young officer, Rufus Putnam , came up with a plan to make portable fortifications out of wood that could be erected on the frozen ground under cover of darkness. Putnam supervised this effort, which successfully installed both
17024-653: Was posting regular lists of stock and commodity prices. Those lists mark the beginning of the London Stock Exchange . One of history's greatest financial bubbles occurred around 1720. At the center of it were the South Sea Company , set up in 1711 to conduct English trade with South America, and the Mississippi Company , focused on commerce with France's Louisiana colony and touted by transplanted Scottish financier John Law , who
17157-506: Was replaced by Thomas Kloet on July 14, 2008. On January 18, 2013, TMX Group Limited announced the appointment of Jean Desgagne as president and chief executive of the Canadian Depository for Securities Limited (CDS), Canada's national securities depository, clearing and settlement hub for equity, fixed income and money markets. He replaced Ian Gilhooley, who retired on December 31, 2012. On May 30, 2013, TMX Group announced
17290-614: Was reversed in 2013 when it was resold to Boston businessman John W. Henry . In 2016, it was announced General Electric would be moving its corporate headquarters from Connecticut to the Seaport District in Boston, joining many other companies in this rapidly developing neighborhood. The city also saw the completion of the Central Artery/Tunnel Project, known as the Big Dig , in 2007 after many delays and cost overruns. On April 15, 2013, two Chechen Islamist brothers detonated
17423-480: Was set up the following year. Soon thereafter, English joint-stock companies began going public. London's first stockbrokers, however, were barred from the old commercial center known as the Royal Exchange, reportedly because of their rude manners. Instead, the new trade was conducted from coffee houses along Exchange Alley . By 1698, a broker named John Castaing, operating out of Jonathan's Coffee House ,
17556-535: Was soon overtaken by Salem, Massachusetts and Newport, Rhode Island . Boston eventually became a center of the American abolitionist movement . The city reacted largely negatively to the Fugitive Slave Act of 1850 , contributing to President Franklin Pierce 's attempt to make an example of Boston after Anthony Burns 's attempt to escape to freedom. In 1822, the citizens of Boston voted to change
17689-543: Was supported by the mayor and a coalition of business leaders and local philanthropists, but was eventually dropped due to public opposition. The USOC then selected Los Angeles to be the American candidate with Los Angeles ultimately securing the right to host the 2028 Summer Olympics . Nevertheless, Boston is one of eleven U.S. cities which will host matches during the 2026 FIFA World Cup , with games taking place at Gillette Stadium . The geographical center of Boston
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