TSX Holidays 2026 and 2027: Full Trading Calendar

The Toronto Stock Exchange (TSX), operated by TMX Group, is Canada’s main stock market and the venue where most Canadian shares, exchange-traded funds and income trusts trade. Regular trading runs from 9:30 am to 4:00 pm ET (Toronto local time is Eastern Time), which is 2:30 pm to 9:00 pm in London during British Summer Time and 1:30 pm to 8:00 pm when both sides are on standard time. The next full closure is Labour Day, Monday, September 7, 2026, when the TSX, the TSX Venture Exchange and Canada’s bond market are all shut. Full schedule and background: TSX holidays. Dates below are taken from the TMX Group trading calendar.

Canada’s holiday calendar differs from the United States in ways that catch cross-border investors out. Family Day in February, Victoria Day in May, Canada Day on July 1 and the Civic Holiday in August have no US equivalent, so the TSX is closed while the New York Stock Exchange and Nasdaq trade normally. Equally, the TSX stays open on Martin Luther King Jr Day, Presidents’ Day, Memorial Day, Juneteenth, July 4 and US Thanksgiving. If you hold dual-listed shares such as banks, railways or energy producers, one side of the border can move while the other sits idle.

TSX holidays 2026

These are the remaining scheduled TSX closures and early closes for 2026.

Boxing Day, December 26, falls on a Saturday in 2026, so the closure moves to the following Monday, December 28. That gives Canadian investors a four-day break from the close on Christmas Eve at 1:00 pm ET to the open on Tuesday, December 29.

TSX holidays 2027

In 2027 both Christmas Day and Boxing Day fall at the weekend, so the TSX observes them on Monday, December 27 and Tuesday, December 28. Trading in the final week of 2027 therefore starts on Wednesday, December 29.

Early closes and half days

The TSX has only one recurring early close: Christmas Eve, when trading ends at 1:00 pm ET (6:00 pm in London) rather than 4:00 pm. That applies on Thursday, December 24, 2026 and Friday, December 24, 2027. If December 24 falls at the weekend, there is no half day at all.

Two points matter on an early close. First, the closing auction, known as the Market on Close (MOC) facility, runs to the shortened 1:00 pm bell, so the official closing price used by index funds and by most valuation rules is set three hours earlier than usual. Second, liquidity, meaning the ease of buying or selling without moving the price, is thin on half days. Large market orders can fill at worse prices than on a normal session, which is why many professional desks avoid trading size on December 24.

Unlike the US market, the TSX does not schedule early closes around July 1, Thanksgiving or Good Friday. When a Canadian holiday falls on a Tuesday or Thursday, the exchange does not add a bridging day off.

Trading hours on the TSX

Toronto sits in the America/Toronto time zone, so TSX local time and ET are the same thing. Clocks change on the same dates as in the United States, which means Canadian and US market hours stay aligned all year, while the gap to London and to Asia shifts for a few weeks each spring and autumn.

Canada does not have a true pre-market with continuous trading in the way the US does. Between 7:00 am and 9:30 am ET the TSX accepts and queues orders that then participate in the opening auction. After the close, the extended session allows trades only at the day’s last sale price, so it is used mainly to complete unfilled orders rather than to react to news. Many Canadian brokers do offer extended-hours access to US-listed shares, which is a separate arrangement with the NYSE and Nasdaq.

On a holiday, every session is cancelled: there is no pre-open, no auction and no extended session. On an early close, the pre-open runs as normal and the auction moves to 1:00 pm ET.

How holidays affect settlement, dividends and options

Canadian equities settle on a T+1 basis, meaning cash and shares change hands one business day after the trade, following the move from T+2 in May 2024 that Canada made a day ahead of the United States. Exchange holidays are not business days, so every closure pushes settlement back. A trade on Friday, September 4, 2026 settles on Tuesday, September 8, because Labour Day on September 7 does not count.

That arithmetic matters for four things:

• Dividends. To receive a dividend you must own the shares by the record date, which under T+1 usually means buying on or before the ex-dividend date. Holidays shift the ex-dividend and record dates issuers publish, so check the company’s announcement rather than counting days yourself.
• Registered account deadlines. RRSP contribution deadlines and the year-end deadline for tax-loss selling depend on settlement. A late-December trade that would normally settle in the same tax year may slip into January if a closure intervenes, so the practical deadline is earlier than most people assume.
• Options and futures. Equity options on Canadian shares trade on the Montréal Exchange (MX), also part of TMX Group. When expiry Friday is a holiday, notably Good Friday, expiry moves to the preceding Thursday. Time value, the part of an option’s price that reflects the days left before expiry, tends to erode across long weekends because the market cannot move while it is shut.
• Corporate actions. Takeover deadlines, rights issues and index rebalances are set in business days and are all pushed out by closures.

Index changes at S&P Dow Jones Indices, which calculates the S&P/TSX Composite, are usually effective at the open after a rebalance date. If that date sits next to a holiday, the trading volume normally spread over one session concentrates into a shorter window, which can exaggerate price moves in affected stocks.

Other markets

Canada’s bond market follows the TSX on statutory holidays and is closed on all the dates in the tables above. It also observes early closes recommended by CIRO, the Canadian Investment Regulatory Organization, typically at 1:00 pm ET on Christmas Eve. Because Canadian government bond yields set the reference rate for fixed mortgage pricing, a closed bond market means posted mortgage rates rarely move on a holiday.

Derivatives on the Montréal Exchange follow the same statutory calendar, with shortened sessions on Christmas Eve. Commodity futures traded in Chicago and New York, including crude oil and gold, keep running on Canadian holidays because they follow the US calendar, so a Toronto investor with energy exposure can watch prices move while their own market is shut. Cryptocurrency markets trade continuously, 24 hours a day, every day of the year, including Christmas Day.

Internationally, the calendars converge on three dates. Christmas Day and New Year’s Day close almost every major exchange, including the TSX, the NYSE, the London Stock Exchange, Euronext, Deutsche Börse, the Tokyo Stock Exchange and the Hong Kong Stock Exchange. Good Friday closes the TSX, the US exchanges, London, Euronext and Frankfurt, but not Tokyo. Beyond that, the calendars diverge sharply: London adds spring and summer bank holidays, Frankfurt observes Labour Day on May 1, Hong Kong and mainland China close for Lunar New Year, and Tokyo shuts for Golden Week in early May. For anyone running a global portfolio, the practical rule is that pricing and liquidity in a given market only exist when that market is open, even if your broker will accept the order.

What It Means for Your Money

An exchange holiday is not a market event in the sense that an interest rate decision is, but it changes what you can and cannot do with your money for a day.

• Buying and selling. Orders you place on a Canadian holiday sit in the queue and are handled in the next session’s opening auction. If news breaks over a long weekend, the market can reopen at a very different price from Friday’s close, and a market order gives you no protection against that. A limit order, which sets the worst price you will accept, does.
• Cash transfers. Banks and the payments system are closed too, so transfers into or out of a brokerage account are delayed. If you need cash in hand for a specific date, allow for the closure.
• Mortgages and savings. Fixed mortgage rates in Canada track government bond yields, and variable rates track lenders’ prime rate, which follows the Bank of Canada’s policy rate. With the bond market shut, neither moves on a holiday. Savings rates are set by lenders and change on business days.
• Pensions and investments. A mutual fund or ETF holding Canadian shares does not strike a new net asset value on a TSX holiday, so your account balance looks unchanged even if US or European markets moved that day. The catch-up appears the next business day.
• Currencies. The foreign exchange market never closes, so the Canadian dollar continues to trade against the US dollar, the pound and the euro on Canadian holidays, although volumes are lighter and price moves can be jumpier than usual.
• Jobs and prices. Statistics Canada does not publish on statutory holidays, so releases such as the Labour Force Survey and the consumer price index shift to the next working day. The same applies in the United States, where the schedule for the US jobs report and the US CPI report shifts around federal holidays.

Frequently Asked Questions

Is the TSX open today?

The TSX trades Monday to Friday from 9:30 am to 4:00 pm ET, except on the statutory holidays listed above. The next full closure is Labour Day on Monday, September 7, 2026, followed by Thanksgiving on Monday, October 12, 2026.

What time does the TSX close on Christmas Eve?

The TSX closes early at 1:00 pm ET, which is 6:00 pm in London, on Thursday, December 24, 2026 and Friday, December 24, 2027. The closing auction runs to that shortened bell.

Is the Canadian bond market open on TSX holidays?

No. Canada’s bond market is closed on every statutory holiday that closes the TSX, and it also observes a recommended early close on Christmas Eve.

How many holidays does the TSX have each year?

The TSX normally observes 10 full-day closures a year, covering New Year’s Day, Family Day, Good Friday, Victoria Day, Canada Day, the Civic Holiday, Labour Day, Thanksgiving, Christmas Day and Boxing Day, plus one early close on Christmas Eve. The total for a given calendar year varies when holidays fall at the weekend and are observed on a different day.

Where is the official TSX holiday calendar?

TMX Group publishes it on the tsx.com calendars and trading hours page, which covers the TSX, the TSX Venture Exchange and TSX Alpha.