Speaking today at the annual Security Traders Association conference in Boca Raton, Fla., TSX Group CEO Richard Nesbitt made a clear case to the traders to invest in Canada.

“This year the S&P 500 is up only 0.4%, the Dow Jones Industrial is down 2.9%, the Nasdaq composite is down 2.8%. But wait a minute … the S&P/TSX Composite is up 21.1% this year.”

(The returns quoted by Nesbitt were in U.S. dollar terms, as of September 28.)

He went on to comment on the performance of markets on both sides of the border. “Since Dec. 31, 1999 the S&P/TSX composite has climbed 35.8% on a total return basis in Canadian dollars. Factor in the exchange rate — 15 cents on the Canadian dollar since 1999 — and you’ve got another 20%. So a total return in U.S. dollar terms of 55.8%. The S&P 500 is down 8.4% since 1999.”

Nesbitt used his opportunity with the U.S. audience to list some of the products and innovations from TSX Group from being the world’s first exchange to launch computerized trading (in 1977) to the first Exchange Traded Fund in the world (in 1990.) TSX also was the first exchange to introduce decimal trading and the first in North America to publicly list its shares on its own marketplace.

“At TSX, we run the stock exchanges where some of you have been putting your client’s money,” said Nesbitt. He added, “And where all of you should have been trading.”

Nesbitt also used his remarks to pay tribute to James Duncan of Canaccord who is ending a year as chairman of the STA. “He’s been a great ambassador for Canada here in the United States. I think he has demonstrated how much we have in common. In fact, he has demonstrated that if it weren’t for all the out-of-date regulations and practices that are imposed on our industry, people would see Canada and the United States securities markets for what they are – a single market.”

News release
http://www.newswire.ca/en/releases/archive/October2005/06/c8549.html