TMX Group Consolidated Trading Statistics - November 2025

Rhea-AI Summary

TMX Group (TMXXF) released consolidated trading statistics for November 2025 covering Toronto Stock Exchange, TSX Venture, TSX Alpha (including Alpha-X & Alpha DRK) and Montréal Exchange, with figures as of Nov 30, 2025. All-market November volume was 14,208,169,648 and value was $348,072,436,278. Year-to-date through November, 2025 total volume rose +25.5% to 151,375,747,288 and value rose +29.3% to $3,627,871,623,338.

Notable segment moves: TSX year-to-date value +28.7%, TSX Venture year-to-date value +121.7%, Alpha-X year-to-date volume +197.2%, and Montréal Exchange open interest +42.4%.

Positive

• All-market YTD volume +25.5% to 151,375,747,288
• All-market YTD value +29.3% to $3,627,871,623,338
• TSX YTD value +28.7% to $3,376,774,272,102
• TSX Venture YTD value +121.7% to $27,873,172,366
• Alpha-X YTD volume +197.2% to 363,389,303
• Montreal Exchange open interest +42.4% to 33,839,881 contracts

Negative

• All-market November volume fell to 14,208,169,648 from October's 18,846,129,482
• TSX November volume declined to 8,908,413,019 from October's 10,276,749,913
• TSX Venture November value fell to $3,431,901,111 from October's $6,100,705,074

Key Figures

All-market November volume 14,208,169,648 shares All TMX equities marketplaces, November 2025

All-market November value $348,072,436,278 All TMX equities marketplaces, November 2025

YTD volume 2025 151,375,747,288 shares All TMX equities marketplaces, year-to-date 2025, +25.5% vs 2024

YTD value 2025 $3,627,871,623,338 All TMX equities marketplaces, year-to-date 2025, +29.3% vs 2024

TSX Venture YTD value $27,873,172,366 TSX Venture Exchange, year-to-date 2025, +121.7% vs 2024

Alpha-X YTD volume 363,389,303 shares Alpha-X & Alpha DRK, year-to-date 2025, +197.2% vs 2024

MX open interest 33,839,881 contracts Montréal Exchange, open interest November 2025, +42.4% vs 2024 YTD

S&P/TSX Composite close 31,382.78 Index close, November 2025

Market Reality Check

$37.56 Last Close

Volume Volume 4,462 vs 20-day average 15,979 (relative volume 0.28x), indicating light trading ahead of this update. low

Technical Price 37.68 is trading slightly above the 200-day MA at 37.34, while still 10.69% below the 52-week high.

Peers on Argus

Global exchange peers like JPXGY, LNSTY, HKXCY and OTCM showed modest gains today (up between 0.34% and 0.66%), but no momentum scanner signals or broad sector move were flagged, suggesting TMXXF trading reflected stock-specific positioning rather than a coordinated sector rotation.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 09	Equity financing stats	Positive	+1.1%	Detailed November 2025 TSX and TSXV equity financing statistics and YTD growth.
Dec 04	Trading statistics	Positive	+1.0%	Released November 2025 consolidated trading figures and strong year-to-date increases.
Dec 03	Operating schedule	Neutral	-0.5%	Published December 2025 and January 2026 holiday operating and early close schedule.
Nov 12	Equity financing stats	Positive	+4.0%	Reported October 2025 TSX and TSXV financings, new issuers and strong YTD growth.
Nov 07	Trading statistics	Positive	+1.5%	Announced October 2025 consolidated trading activity and double-digit YTD increases.

Pattern Detected

Operational and statistics-focused releases have mostly coincided with positive price moves, with 4 of the last 5 news events followed by gains.

Recent Company History

Over the last two months, TMX Group has regularly published trading and equity financing statistics, highlighting rising activity across TSX, TSXV, TSX Alpha, Alpha-X and Montréal Exchange. Notable items include strong October and November 2025 consolidated trading volumes and values, and significant year-to-date growth in financings on TSX and TSXV. A holiday operating schedule update on Dec 3, 2025 was the only recent event followed by a small price decline. Overall, data-centric updates have tended to align with modest positive price reactions.

Market Pulse Summary

This announcement detailed November 2025 trading activity across TMX Group marketplaces, with all-market volume of 14.21B shares and year-to-date volume of 151.38B, up 25.5% from 2024. Year-to-date traded value reached $3.63T, an increase of 29.3%. TSX Venture and Alpha-X showed particularly strong percentage growth, while Montréal Exchange open interest rose 42.4%. Investors tracking TMX may focus on how these volume and value trends evolve in subsequent monthly releases.

Key Terms

derivatives financial

"Montreal Exchange --- Table Start --- November 2025 ... Derivatives Volume (Contracts)"

Derivatives are financial contracts whose value depends on the price or performance of another asset, such as a stock, bond, commodity, currency or interest rate. Investors use them to hedge against risk, to speculate on future price moves, or to gain exposure without owning the asset — like buying insurance or placing a leveraged bet — so they can both protect portfolios and magnify gains or losses, affecting risk and market liquidity.

open interest financial

"Montreal Exchange ... Open Interest (Contracts) | 33,839,881 | 33,112,659 | 23,771,795"

Open interest is the total number of outstanding futures or options contracts that have been created but not yet closed or settled. Think of it like the number of active tickets in a queue — higher open interest means more traders are involved and the market is more liquid, which helps price moves be more reliable and shows the strength of investor interest or conviction in a trend.

composite index financial

"S&P/TSX Composite Index Close ^ | 31,382.78 | 30,260.74 | 25,648.00"

A composite index is a single number that summarizes the price performance of a group of stocks or other financial instruments, combining multiple components into one measure like a thermometer reading for a market segment. Investors use it to track overall trends, compare performance, and gauge market health quickly; a rising composite often signals broad strength while a falling one suggests widespread weakness, much like a weather report for a whole region.

index close financial

"S&P/TSX Composite Index Close ^ | 31,382.78 | 30,260.74 | 25,648.00"

Index close is the final reported value of a stock market index at the end of a trading day, calculated from the prices of the stocks that make up that index. Think of it as the daily ‘final score’ for a market or sector; investors use it to track performance, compare returns, settle funds and make buy/sell decisions, because shifts in the closing level often reflect trends, risk sentiment and portfolio gains or losses.

contracts financial

"Derivatives Volume (Contracts) | 20,484,351 | 19,430,481 | 19,576,991"

A contract is a written or verbal agreement that creates binding promises between parties about goods, services, payments or actions—think of it like a detailed agreement or rental lease that maps who must do what and when. For investors, contracts matter because they translate future business into expected revenue, costs or legal obligations, so new, lost or changed contracts can directly affect a company’s cash flow, risk profile and value.

AI-generated analysis. Not financial advice.

Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, Alpha-X & Alpha DRK and Montréal Exchange

Toronto, Ontario--(Newsfile Corp. - December 4, 2025) - TMX Group Limited today announced November 2025 trading statistics for its marketplaces – Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange (Alpha), including Alpha-X & Alpha DRK, and Montréal Exchange (MX).

All TMX Equities Marketplaces *

	November 2025	October 2025	November 2024
Volume	14,208,169,648	18,846,129,482	12,025,217,832
Value	$348,072,436,278	$388,951,149,042	$280,339,336,898
Transactions	28,095,632	32,543,664	22,281,813
Daily Averages
Volume	710.4 million	856.6 million	572.6 million
Value	$17,403.6 million	$17,679.6 million	$13,349.5 million
Transactions	1,404,782	1,479,257	1,061,039

 

Year-to-date Statistics

	2025	2024	% Change
Volume	151,375,747,288	120,597,202,054	+25.5
Value	$3,627,871,623,338	$2,804,748,794,477	+29.3
Transactions	285,714,873	228,153,094	+25.2
Daily Averages
Volume	658.2 million	519.8 million	+26.6
Value	$15,773.4 million	$12,089.4 million	+30.5
Transactions	1,242,239	983,419	+26.3

 

Toronto Stock Exchange

	November 2025	October 2025	November 2024
Volume	8,908,413,019	10,276,749,913	7,986,209,101
Value	$325,825,113,125	$359,530,835,199	$260,757,004,269
Transactions	23,960,280	27,510,977	19,643,417
S&P/TSX Composite Index Close ^	31,382.78	30,260.74	25,648.00
Daily Averages
Volume	445.4 million	467.1 million	380.3 million
Value	$16,291.3 million	$16,342.3 million	$12,417.0 million
Transactions	1,198,014	1,250,499	935,401

 

Year-to-date Statistics

	2025	2024	% Change
Volume	94,811,744,365	79,726,644,440	+18.9
Value	$3,376,774,272,102	$2,623,185,280,714	+28.7
Transactions	249,252,023	201,865,709	+23.5
Daily Averages
Volume	412.2 million	343.6 million	+20.0
Value	$14,681.6 million	$11,306.8 million	+29.8
Transactions	1,083,704	870,111	+24.5

 

TSX Venture Exchange*

	November 2025	October 2025	November 2024
Volume	4,048,567,315	6,622,291,383	2,864,394,117
Value	$3,431,901,111	$6,100,705,074	$1,372,153,132
Transactions	1,591,029	2,567,858	732,906
S&P/TSX Venture Composite Index Close ^	937.34	957.88	614.26
Daily Averages
Volume	202.4 million	301.0 million	136.4 million
Value	$171.6 million	$277.3 million	$65.3 million
Transactions	79,551	116,721	34,900

 

Year-to-date Statistics

	2025	2024	% Change
Volume	42,186,902,882	29,840,064,415	+41.4
Value	$27,873,172,366	$12,570,761,493	+121.7
Transactions	12,982,885	7,366,880	+76.2
Daily Averages
Volume	183.4 million	128.6 million	+42.6
Value	$121.2 million	$54.2 million	+123.7
Transactions	56,447	31,754	+77.8

 

TSX Alpha Exchange

	November 2025	October 2025	November 2024
Volume	1,221,120,861	1,893,812,483	1,154,006,820
Value	$18,065,379,256	$22,249,060,790	$17,538,591,868
Transactions	2,430,819	2,314,065	1,841,692
Daily Averages
Volume	61.1 million	86.1 million	55.0 million
Value	$903.3 million	$1,011.3 million	$835.2 million
Transactions	121,541	105,185	87,700

 

Year-to-date Statistics

	2025	2024	% Change
Volume	14,013,710,738	10,908,206,902	+28.5
Value	$215,249,308,376	$164,990,034,012	+30.5
Transactions	22,450,245	18,512,590	+21.3
Daily Averages
Volume	60.9 million	47.0 million	+29.6
Value	$935.9 million	$711.2 million	+31.6
Transactions	97,610	79,796	+22.3

 

Alpha-X and Alpha DRK

	November 2025	October 2025	November 2024
Volume	30,068,453	53,275,703	20,607,794
Value	$750,042,786	$1,070,547,979	$671,587,629
Transactions	113,504	150,764	63,798
Daily Averages
Volume	1.5 million	2.4 million	1.0 million
Value	$37.5 million	$48.7 million	$32.0 million
Transactions	5,675	6,853	3,038

 

Year-to-date Statistics

	2025	2024	% Change
Volume	363,389,303	122,286,297	+197.2
Value	$7,974,870,494	$4,002,718,258	+99.2
Transactions	1,029,720	407,915	+152.4
Daily Averages
Volume	1.6 million	0.5 million	+199.7
Value	$34.7 million	$17.3 million	+101.0
Transactions	4,477	1,758	+154.6

 

Montreal Exchange

	November 2025	October 2025	November 2024
Derivatives Volume (Contracts)	20,484,351	19,430,481	19,576,991
Open Interest (Contracts)	33,839,881	33,112,659	23,771,795

 

Year-to-date Statistics

	2025	2024	% Change
Volume (Contracts)	214,478,368	179,706,965	+19.3
Open Interest (Contracts)	33,839,881	23,771,795	+42.4

 

*Includes NEX

The information contained in this media release is provided for informational purposes only and is not intended to provide investment, trading, financial or other advice. All figures are as of November 30, 2025. Because certain trades do not settle on the trade date, figures may be subject to change until all November trades are finalized. Comparative data has been updated to reflect known trade corrections.

^The S&P/TSX Indices are products of S&P Dow Jones Indices LLC ("SPDJI") and TSX Inc. ("TSX"). Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC ("S&P"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and TSX® is a registered trademark of TSX. SPDJI, Dow Jones, S&P and TSX do not sponsor, endorse, sell or promote any products based on the Indices and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions or interruptions of the Indices or any data related thereto.

About TMX Group (TSX: X)

TMX Group operates global markets, and builds digital communities and analytic solutions that facilitate the funding, growth and success of businesses, traders and investors. TMX Group's key operations include Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, TSX Trust, TMX Trayport, TMX Datalinx, TMX VettaFi and TMX Newsfile, which provide listing markets, trading markets, clearing facilities, depository services, technology solutions, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across North America (Montréal, Calgary, Vancouver and New York), as well as in key international markets including London, Singapore and Vienna. For more information about TMX Group, visit www.tmx.com. Follow TMX Group on X: @TMXGroup.

For more information please contact:

Catherine Kee
Head of Media Relations
TMX Group
416-671-1704
catherine.kee@tmx.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276843

FAQ

What were TMX Group (TMXXF) consolidated market volumes for November 2025?

All TMX marketplaces reported November 2025 volume of 14,208,169,648 shares/contracts.

How did TMX Group year-to-date value through November 2025 compare to 2024 (TMXXF)?

Year-to-date value was $3,627,871,623,338, up +29.3% versus 2024.

What was the TSX year-to-date volume and percent change through November 2025?

TSX YTD volume was 94,811,744,365, up +18.9% year-over-year.

Did TSX Venture show strong year-to-date performance in 2025 (TMXXF)?

Yes; TSX Venture YTD value rose +121.7% to $27,873,172,366 and YTD volume rose +41.4%.

What change did Alpha-X record year-to-date through November 2025?

Alpha-X year-to-date volume increased +197.2% to 363,389,303.

What were key Montréal Exchange derivatives metrics in November 2025?

Montréal Exchange reported November derivatives volume of 20,484,351 contracts and open interest of 33,839,881.