The principal stock exchanges in Canada are the Toronto Stock Exchange and Cboe Canada (formerly, the NEO Exchange), which list securities of larger, more established companies, and the TSX Venture Exchange and the Canadian Securities Exchange, which serve the venture and emerging issuer capital market. Stock Exchange Listing The principal stock exchanges in Canada are the Toronto Stock Exchange (TSX), Cboe Canada (formerly, the NEO Exchange), the TSX Venture Exchange (TSXV) and the Canadian Securities Exchange (CSE). The TSX and Cboe Canada list securities of larger, more established companies, whereas the TSXV and CSE serve the venture and emerging issuer capital market. While each exchange offers alternative methods for listing, the most common type of new listing is in connection with an initial public offering for which a prospectus has been filed with Canadian securities regulators. A company seeking to list on any exchange must submit a listing application together with a number of supporting documents. The company must provide data to demonstrate that it is able to meet the financial, public float and other listing requirements of the exchange. Once listed, a company must continue to comply with the exchange’s ongoing requirements. These include obtaining the approval of the exchange prior to effecting certain share issuances or other changes in the company’s capital structure (which may also require shareholder approval). The exchanges also impose corporate governance and disclosure standards that are in addition to those mandated by applicable corporate and securities laws.
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Doing Business in Canada
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