Trading activity across Canada’s major stock exchanges accelerated sharply in January 2026, with equity volumes, transaction values and daily averages all posting strong year-on-year growth as investor participation picked up pace early in the year.
Across all TMX equity marketplaces — including the Toronto Stock Exchange, TSX Venture Exchange and TSX Alpha platforms — total trading volume reached 19.82 billion shares during the month. That represents an increase of more than 69 percent compared with January last year.
The total value of shares traded climbed to $433.2 billion, up 51 percent year over year, while the number of executed transactions rose to nearly 35.7 million. On a daily basis, Canadian equity markets averaged 943.8 million shares traded, with daily transaction values exceeding $20.6 billion.
The Toronto Stock Exchange remained the primary driver of activity. In January alone, the TSX recorded 10.66 billion shares traded, representing a 46.8 percent increase compared with the same month last year. The value of trading on Canada’s senior exchange reached $401.7 billion, while total transactions exceeded 29.3 million.
Market strength was also reflected in index performance. The S&P/TSX Composite Index closed January at 31,923.52, comfortably above levels seen a year earlier and pointing to sustained confidence in large-cap Canadian equities.
Small-cap and growth stocks posted some of the most striking gains. The TSX Venture Exchange saw trading volume surge to 7.35 billion shares in January, more than double the level recorded a year earlier. The value of Venture trading jumped to $7.26 billion, marking a year-on-year increase of nearly 369 percent.
Daily averages underline the shift in investor behaviour. Average daily trading value on the Venture Exchange climbed to $345.9 million, compared with just $70.4 million a year earlier, while daily transactions nearly quadrupled.
Alternative trading venues also recorded solid growth. The TSX Alpha Exchange handled 1.77 billion shares during the month, with transaction values reaching $23.3 billion. Meanwhile, Alpha-X and Alpha DRK combined processed more than 40 million shares, reflecting ongoing demand for diverse execution options.
Derivatives activity showed a more mixed pattern. The Montréal Exchange processed 17.7 million contracts in January, slightly lower than the same period last year. However, open interest rose by more than 21 percent to exceed 31 million contracts, pointing to longer-term positioning by market participants.
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Overall, January’s figures highlight a broad-based rebound in Canadian market participation. Rising liquidity across senior, venture and alternative exchanges suggests investors are re-engaging across market capitalisations, setting a strong tone for the opening months of 2026.
For full details directly from the exchange, see the official TMX Group release on January 2026 trading statistics TMX Group January 2026 Trading Activity Report .
