The Toronto Stock Exchange (TSX) is set to launch a new index that tracks locally listed cannabis companies next week.

The exchange announced that the new S&P/TSX Cannabis Index (XCAN) will be released on Jan. 20.

The new index measures the performance of cannabis companies that trade on either the TSX or the TSX Venture Exchange (TSXV).

The index methodology will be released on Jan. 20 as well, when ​the new index is added to real-time data feeds.

In November, the TSX launched the S&P/MX International Cannabis Index, an international index that tracks cannabis companies traded on the New York Stock Exchange (NYSE), NASDAQ, TSX and TSXV.