Online price for the S&P/TSX Composite stock index futures on the Toronto Stock Exchange (TSX). Index composition, trading time and its features, adaptive online price chart. The S&P/TSX Composite Index is called the Canadian analogue of the American S&P 500 index. It is the largest Canadian stock index, and investors working with the Canadian stock market are guided by it. The S&P/TSX Composite is a stock index based on over 200 companies that account for more than 70% of the capitalization on the Toronto Stock Exchange (TSX), administered by S&P Dow Jones Indices, a subsidiary of Standard & Poor's.
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About S&P/TSX Index
The S&P/TSX Composite is a composite index of the Toronto Stock Exchange family. It includes the largest issuers listed on this stock exchange. As a result, the approximately 250 index companies account for the bulk of the capitalization of more than 1,500 issuers on the exchange.The S&P/TSX calculation includes securities of companies, regardless of the industry, due to which it reflects the state of almost the entire Canadian stock market.
Futures for the S&P/TSX Composite index are traded on the Toronto Stock Exchange. Business hours 09:30-16:00 ET (GMT-05:00).
The S&P/TSX Composite replaced the TSE 300 and became one of the main indicators of the Canadian stock market. Its publication began on January 1, 1977. It includes securities of banks, energy companies, transport and other companies.
The main share in the calculation of the index falls on companies from the financial services industry - they occupy about 30% of the total capitalization in it. Also, a significant percentage is accounted for by issuers from the energy and industrial sectors - in total, these three sectors make up more than half of the entire S&P / TSX Composite calculation base.
It also includes companies in the healthcare, consumer goods, information technology, communications, utilities, and other industries.
The index is rebalanced quarterly. If the VWAP or capitalization requirement is not met, then the stock is excluded from the basket. It is also necessary that the trading volume of the stock be in the range of 0.025% -15.00% of the trading volume of all elements of the basket.
On average, the S&P/TSX index includes just under 250 different issuers. These include, among other things, fairly large and reputable companies, such as:
- Royal Bank of Canada
- Toronto-Dominion Bank
- Enbridge Inc
- Canadian National Railway Company
- Bank of Nova Scotia
- Brookfield Asset Management Inc
- TC Energy Corporation
- Shopify Inc
- Bank of Montreal
- Suncor Energy Inc
- Canadian Imperial Bank Of Commerce
- Sun Life Financial Inc
- Air Canada
- Capital Power Corporation
- Canadian Pacific Railway Limited
The S&P/TSX Canadian family of indices is governed by a committee of 7 members:
- 4 of them represent S&P Dow Jones Indices;
- 3 - Toronto Stock Exchange.
The committee is chaired by a person appointed by S&P Dow Jones Indices. Meetings take place at least once a month or more often if necessary.
Strict requirements are put forward for the shares of companies claiming to be included in the structure of the S&P/TSX index:
- The price of a share must be greater than $1, if the price of a security remains below $1 for a certain period of time, it is excluded from the basket. This refers to VWAP (Volume Weighted Average Price);
- The market capitalization of the company must be equal to at least 0.05% of the index capitalization.
The Toronto Stock Exchange family includes a large number of indices, including:
S&P/TSX 60 - is a Canadian index that includes securities of 60 major issuers of the Toronto Stock Exchange. Part of the S&P/TSX.
S&P/TSX Completion - part of the composite index, the base of which includes all of its securities, with the exception of those included in S&P/TSX.
S&P/TSX SmallCap - is a Canadian index of small cap companies.
S&P/TSX Composite Index Banks - is an industry Canadian index that includes companies included in the S&P/TSX Composite and related to the banking sector.
S&P/TSX Venture Composite - is an index that includes shares of issuers listed on the TSX Venture Exchange. One indicator for small cap stocks.
The S&P/TSX Equal Weight Oil & Gas Index - is a Canadian industry index calculated on the basis of stock prices of issuers included in the S&P/TSX 60 and related to the oil and gas industry.
S&P/TSX Preferred Share Index - is an index of the Canadian preferred stock market.
S&P/TSX Composite Dividend Index - is an index that includes in the calculation base all companies included in the S&P/TSX Composite and having a positive dividend yield.
The S&P/TSX index is calculated using the standard S&P Dow Jones methodology:
- The capitalization of all companies is taken as 100%;
- For each company, its weight is calculated based on capitalization;
- The price of the stock is then multiplied by the previously calculated weight for each item in the basket. The resulting values are added;
- The result is divided by a divisor. The value of the index is expressed in points.
The index is quite volatile, and this indicator increases over time. During periods of crisis, volatility rises in leaps and bounds. Most of the time, daily volatility is in the 40-500 pips range.
As far as ETFs go, there aren't any major funds copying the index yet. But there are ETFs that replicate other indexes in this family, such as BlackRock's iShares Core S&P/TSX Capped Composite Index ETF (XIC).