The Toronto-Dominion Bank, known as TD, was formed on February 1, 1955, when the Bank of Toronto and the Dominion Bank merged. The Bank of Toronto had been incorporated in 1855 and the Dominion Bank established in 1869. The Toronto Stock Exchange, founded by formal resolution on October 25, 1861, is a separate institution with its own history.
The Bank of Toronto, 1855 to 1955
According to TD’s own history page, the Bank of Toronto was incorporated in 1855 and opened its first branch, on Church Street in Toronto, in 1856. Its first branch outside Ontario opened in Montreal in 1860, and a head office opened at Church and Wellington Streets in 1863. A newer head office followed at King and Bay Streets in 1913.
The Dominion Bank, 1869 to 1955
The Dominion Bank was established in 1869 and opened its first branch, on King Street in Toronto, in 1871. TD’s history page records that both banks expanded westward in the late 1890s, with the Bank of Toronto opening in Winnipeg in 1897 and Rossland, British Columbia, in 1899. The Dominion Bank opened its first international office, in London, England, in 1911, and a new head office at King and Yonge Streets in 1914. It opened an office in New York City in 1919.
How the 1955 merger happened
TD’s page states that the merged bank had 449 branches and about 4,700 employees at its start. Accounts that give asset totals disagree: figures of $1.1 billion and $1.3 billion appear in different reference works, apparently for different dates, so this article gives no asset total.
The merger took effect on February 1, 1955, exactly 100 years after the Bank of Toronto’s incorporation year, which makes the date easy to remember. The new name combined the names of the two parents. The bank’s later history is recorded on the same TD page:
| Year | Event at TD |
|---|---|
| 1955 | Toronto-Dominion Bank formed (February 1) |
| 1962 | First computer system purchased |
| 1967 | TD Tower opens in Toronto; Inuit Art Collection established |
| 1969 | TD Shield corporate identity introduced |
| 1976 | First ATM, the Green Machine |
| 1996 | Waterhouse Investor Services acquired; WebBroker introduced |
| 2000 | TD and Canada Trust join |
| 2005 | 150th anniversary; 51 percent of Banknorth acquired |
| 2008 | Commerce Bancorp acquired |
TD and TD Canada Trust
Searchers often ask whether TD and TD Canada Trust are the same bank. TD’s history page describes the year 2000 as the point when TD and Canada Trust joined forces, and it also calls the event TD’s acquisition of Canada Trust. The same page traces Canada Trust to Huron and Erie, founded in London, Ontario, in 1864, which began operating as Canada Trust in 1901 as a subsidiary. The page does not explain how the combined retail name relates to the legal name of the bank.
The Toronto Stock Exchange
The Canadian Encyclopedia says twelve businessmen formed an informal association of brokers in 1852. The exchange was officially founded on October 25, 1861, by a resolution at Toronto’s Masonic Hall, and 18 stocks could be traded. Other sources give July 26, 1852, or October 24, 1852, for the earlier meeting, so only the year is used here.
By 1871, the encyclopedia states, 14 firms traded on the exchange, each having paid $250 for a seat. A seat cost $12,000 in 1901 and $100,000 in 1955. Trading was suspended after the First World War began in 1914. The encyclopedia also says the 1929 crash had no significant effect on Canadian trading and that no member defaulted. That is one source’s account, and other histories may weigh the crash differently.
Several reference works give 1878 as the year the exchange was incorporated by an Act of the Ontario Legislature. The Canadian Encyclopedia page does not mention it, and no primary source was reached, so the date is not treated as confirmed.
The exchange in the late 20th century
The Canadian Encyclopedia lists these steps: formal disclosure rules for listed companies from 1958; computer-assisted trading and the TSE 300 index in 1977; a drop of more than 300 points in the TSE 300 during the 1987 crash; and, in the late 1990s, a move to a fully electronic market. In 1999 the exchange became the sole venue for senior equities and received approval to operate as a for-profit organization. In 2002 it went public, and Standard and Poor’s took over the TSE 300, which became the S&P/TSX Composite Index. The article adds that the exchange has moved five times and sits at 130 King Street West.
Frequently asked questions
What does TD stand for?
TD stands for Toronto-Dominion, the name taken in 1955 when the Bank of Toronto and the Dominion Bank merged.
When was the Bank of Toronto founded?
It was incorporated in 1855 and opened its first branch in 1856, according to TD’s history page.
When was the Toronto Stock Exchange founded?
The exchange dates its formal founding to October 25, 1861. An informal association of brokers existed from 1852.
What does TSX stand for?
TSX is the short name of the Toronto Stock Exchange. The S&P/TSX Composite Index took its present name in 2002, when it was renamed from the TSE 300.
Can the public visit the Toronto Stock Exchange?
Visiting arrangements change and were not verified. The official TMX Group pages give current information.
Last verified: October 2026
Sources
- TD Bank Group, “Historical Fast Facts”
- The Canadian Encyclopedia, “Toronto Stock Exchange”
- The Canadian Encyclopedia, “TD Bank Financial Group”
- TMX Group, “History at a Glance” (2012)
Related reading
- An overview of Toronto’s history
- The history of Toronto from its Indigenous roots
- Historic buildings of Toronto
- How Toronto’s neighborhoods grew
- Researching Toronto’s past in newspapers and archives
Cite this page
APA: History of Toronto. (2026, October 23). Toronto-Dominion Bank and the Toronto Stock Exchange: History. https://historyoftoronto.ca/blog/the-fascinating-history-of-toronto-dominion-bank-from-humble-beginnings-to-global-dominance
MLA: “Toronto-Dominion Bank and the Toronto Stock Exchange: History.” History of Toronto, 23 Oct. 2026, https://historyoftoronto.ca/blog/the-fascinating-history-of-toronto-dominion-bank-from-humble-beginnings-to-global-dominance. Accessed .
Chicago: History of Toronto. “Toronto-Dominion Bank and the Toronto Stock Exchange: History.” Last modified October 23, 2026. https://historyoftoronto.ca/blog/the-fascinating-history-of-toronto-dominion-bank-from-humble-beginnings-to-global-dominance.
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