On September 22, more than 70 University of Guelph-Humber Business students had the rare opportunity to step inside the Toronto Stock Exchange (TSX) for an immersive learning experience. Guided by Managing Director of Exchange Traded Products, Graham MacKenzie, students gained first-hand insights into Canadian capital markets, how the TSX operates, and the process companies follow to become publicly listed.
Dr. Farkhanda Shamim, Associate Head of the U of GH Business program, led the visit and emphasized the value of the experience:
“A field trip to the Toronto Stock Exchange (TSX) is a valuable part of a finance student’s educational journey, as it bridges the gap between theory and practice… The interactive setting also allows students to ask thoughtful questions and explore potential career pathways in the financial industry.”
To capture the impact of the visit, we spoke with Business student Jan Eros Intal, who shared his impressions, what stood out most, and how it connects to his future career goals.
Q: What was your first impression walking into the Toronto Stock Exchange (TSX), and how did it compare to what you expected?
A: My first impression walking into the TSX was that it was highly structured and effective. I had imagined it to be super fast-paced and overwhelming, but it was nothing like that. With the advancements in technology, we learned how the TSX integrates people, data and technology seamlessly. It really plays a huge role in Canada’s financial markets and how businesses and investors make informed decisions.
Q: What was one idea or takeaway about capital markets and market structure that really stood out to you?
A: My key takeaway was how the structure of capital markets is designed to balance efficiency, transparency, and fairness. There are regulatory frameworks for all types of businesses in place to ensure that all investors have access to the same information – this showed me how much work is put in to keep the markets running efficiently. The goal of the system is to connect businesses with the resources needed to grow and maintain integrity for all users of the TSX.
Q: How did seeing the TSX in action help you connect classroom theory to real-world finance?
A: The visit bridged the gap between theory and practice. We recently learned Valuing Stocks in class and are moving on to Discounted Cash Flow models and Risk & Return. All these concepts are applied in the TSX on a daily basis. For example, whenever anyone invests in a stock there is always risk that comes with it. It helped me see the practical value of what we learn in the classroom and how critical accurate financial information is to keeping confidence high in the market.
Q: Did the visit spark any new thoughts about your career goals or the kinds of roles you might pursue in the financial industry?
A: The visit provided another perspective on my career prospects. I am currently focused on pursuing my CPA and the visit made me realize how closely accounting, finance and capital markets are connected. There are specific roles that I have considered mainly in financial reporting such as assurance, financial advisory or risk management. It has constantly reminded me how crucial information is to any financial user and how it influences investors and markets in decision-making.
Q: What part of the experience did you find the most memorable or inspiring, and why?
A: The most memorable part was having a dialogue with the Managing Director of the TSX. The discussion touched on timely and important topics such as the implications of AI and technology on trading floors, the Central Bank’s recent interest rate cut, regulations around stock price manipulation, and even perspectives on day trading. Hearing these insights directly from someone with first-hand experience in the industry was inspiring because it connected the theory I’ve been studying to real-world challenges and opportunities in capital markets.
To learn more about the University of Guelph-Humber’s Business Administration program, click here.