TMX Group's October statistics show an unusual split between share count and money value. Across its Canadian equity marketplaces, volume fell to 12,854,932,155 shares from 18,846,129,482 a year earlier, while traded value increased to C$425.5 billion from C$389.0 billion. FXBrokers.ai calculates that as a 31.8% year-on-year decline in share volume but a 9.4% rise in traded value.[1][2]
Transactions fell more modestly, to 31,406,276 from 32,543,664, a 3.5% decline by our calculation. The combination means the October tape cannot be summarised simply as 'less trading'. Fewer shares changed hands, but the aggregate dollar value was higher. That can arise from changes in the mix and prices of securities traded; the monthly totals alone do not identify the cause.[1][2]
All TMX equity marketplaces — October YoY
| Metric | Oct 2026 | Oct 2025 | FXBrokers.ai change |
|---|---|---|---|
| Share volume | 12,854,932,155 | 18,846,129,482 | -31.8%Source 1Source 2 |
| Traded value | C$425.5bn | C$389.0bn | +9.4%Source 1Source 2 |
| Transactions | 31,406,276 | 32,543,664 | -3.5%Source 1Source 2 |
The Toronto Stock Exchange shows the same broad divergence, but less dramatically
On the Toronto Stock Exchange itself, October share volume was 9,176,882,654 versus 10,276,749,913 a year earlier, a -10.7% decline. Traded value rose to C$404.2 billion from C$359.5 billion, or +12.4%. Transaction count was almost flat at 27,632,807, up 0.4% from the prior-year month.[1][2]
The year-to-date picture is stronger than the single month. TMX reports 2026 year-to-date share volume up 10.6%, traded value up 32.6% and transactions up 25.5% from the comparable 2025 period. October therefore looks like a change in monthly composition inside a year that has still produced materially higher cumulative activity by all three measures.[1][2]
TSX October and group year-to-date context
| Measure | Change |
|---|---|
| TSX share volume YoY | -10.7%Source 1Source 2 |
| TSX traded value YoY | +12.4%Source 1Source 2 |
| TSX transactions YoY | +0.4%Source 1Source 2 |
| TMX all-equities YTD volume | +10.6%Source 1Source 2 |
| TMX all-equities YTD value | +32.6%Source 1Source 2 |
| TMX all-equities YTD transactions | +25.5%Source 1Source 2 |
For brokers and market-data providers, the practical point is to avoid treating volume, value and transaction count as interchangeable liquidity measures. October had sharply lower share turnover by count, higher dollar turnover and only a small decline in the number of trades. Order-routing capacity, market-data load and revenue sensitivity can respond differently to each of those variables, so operational planning should track the underlying series separately.[1][2]
Sources & further reading
- TMX Group Consolidated Trading Statistics — October 2026 TMX Group · 6 Nov 2026 · Accessed 8 Nov 2026
- TMX Group Consolidated Trading Statistics - October 2026 TMX Group via Newsfile · 6 Nov 2026 · Accessed 8 Nov 2026