The S&P/TSX is a major stock market index which tracks the performance of largest companies by market capitalization on the Toronto Stock Exchange in Canada. It is a free float market capitalization weighted index. The index covers approximately 95 percent of the Canadian equities market. In order to cope with the economic crisis, the TSX merged with its main competitor, the Standard Stock and Mining Exchange, with the merged markets adopting the Toronto Stock Exchange name. By 1936, the TSX had become North America's third largest exchange, with annual trading volume exceeding $500 million.