Canadian equity commission spending rose 6% year over year in 2025 to approximately $505 million, marking the highest level since 2021. While not a blowout year as in the United States and Europe, the increase is directionally positive. The sentiment among Canadian buy-side traders is notably constructive, supported by strong index performance and a clear pickup in turnover. The S&P/TSX Composite Index delivered a 29% gain and registered 63 all-time highs in 2025. Traded volumes also increased, up about 26% year over year according to BMLL Technologies, a market data and analytics provider.
MethodologyFrom January through June 2025, Crisil Coalition Greenwich interviewed 95 buy-side equity traders and portfolio managers in North America. The study was conducted over the phone, online and in-person. Respondents answered a series of qualitative and quantitative questions about the brokers they use and their business practices in the Canadian cash equity space.