The Toronto Stock Exchange and TSX Venture Exchange will begin identifying stock listings by the type of voting structure each issue offers in October.
Consistency in symbols will offer greater transparency and clarity to investors, said TSX Group CEO Barbara Stymiest, in making the announcement this week.
This enhancement will be introduced to reflect only those issues with unusual voting structures (e.g. Multiple Voting Shares, Subordinate Voting Shares or Non-Voting Shares), Stymiest said.
Symbols with non-standard voting structures will be changed to include a standard two letter suffix indicating voting privileges. For example, non-voting shares with a symbol of “AAP.B” would become “AAP.NV.B”
This initiative was the result of discussions between the TSX and the Canadian Coalition for Good Governance. Additional details will be communicated prior to the October 2004 changeover.