Management and Organizational Studies 1023A/B Chapter Notes - Chapter 5: Brokerage Firm, Tmx Group, Market Capitalization

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1023A/B
• Professor: Barry Hawn

Document Summary

Traditionally, stock exchanges were not-for proit organizations. Membership in a stock exchange (in a form of a seat) was sold to individuals so they can trade on the exchange. New tmx group is a for-proit institutions owned by shareholders. Worldwide trend in the conversion of stock exchanges to competitive private companies as global competition to list and trade securities has increased. Market intermediaries, stock brokerages, are now participating organizations or approved participants : no longer have to own seats to trade on the exchange. On april 23, 1997, tsx closed its trading loor computerized trading: brokers enter order to buy or sell securities based on client orders, computer matches buyers with sellers. Tsx is the eight largest exchange in the world with a market capitalization of . 2 trillion in 2011: market capitalization: the total market value of the securities of all the listed irms.