The Canadian stock market began modestly in 1861. With a membership fee of only $5.00 and trading only 18 stocks, the Toronto Stock Exchange (TSX) entered the marketplace. By 1901, scarcely forty years after its birth, the Toronto Stock Exchange reached the million trades per year milestone and had admitted one hundred companies to the Exchange. By 1926, the trading volume increased ten-fold. Shortly thereafter, the Toronto Stock Exchange merged with the Standard Stock and Mining Exchange, creating the third largest marketplace in North America. The Exchange implemented the world’s first Computer Assisted Trading System, and was the first marketplace in North America to launch decimal trading.