If you’re trying to place a trade on Thursday, Dec. 25, 2025, the answer is straightforward: Canada’s stock market is closed for Christmas Day. That means no regular trading on the Toronto Stock Exchange (TSX), TSX Venture Exchange (TSXV), TSX Alpha Exchange, or key Canadian trading and post-trade systems tied to the country’s equity markets.
It’s also not just the TSX universe. Other major Canadian equity venues and systems used by brokers and institutions observe the holiday too, including the Canadian Securities Exchange (CSE) and Cboe Canada venues (which include platforms associated with NEO trading).
Below is a full, investor-focused breakdown of what’s closed today, what happened in markets on Dec. 24, 2025, and how to plan around the holiday trading pause.
Is the Canadian stock market open on Dec. 25, 2025?
No. Canadian stock markets are closed on Thursday, Dec. 25, 2025 (Christmas Day).
What’s closed in Canada on Christmas Day (Dec. 25, 2025)
Here’s what investors typically mean when they ask if “the Canada stock market” is open—and what’s happening today:
- Toronto Stock Exchange (TSX): Closed
- TSX Venture Exchange (TSXV): Closed
- TSX Alpha Exchange: Closed
- Montréal Exchange (MX) derivatives markets: Closed
- Canadian Securities Exchange (CSE): Closed
- Cboe Canada trading venues (including NEO-related venues): Observes Christmas Day
- CDS / CDSX (Canadian clearing/settlement infrastructure referenced by many market participants): Closed
What about Dec. 24 and Dec. 26? Early close on Christmas Eve, and Boxing Day closure
Canadian markets didn’t simply “switch off” for one day. The Christmas break affects multiple sessions around the holiday.
Christmas Eve trading hours (Wednesday, Dec. 24, 2025)
On Dec. 24, 2025, Canadian markets ran a shortened session:
- TSX and TSXV: open until 1:00 p.m. ET
- TSX Alpha Exchange: open until 1:30 p.m. ET
The CSE also published an early close schedule for Dec. 24, with its listed securities closing at 1:00 p.m. ET (with additional scheduled phases surrounding the close).
Boxing Day closure (Friday, Dec. 26, 2025)
Canadian markets are also closed on Friday, Dec. 26, 2025 (Boxing Day)—a key detail for anyone assuming trading would resume immediately after Christmas.
So when does trading resume?
Because Dec. 26 is closed and the weekend follows, many investors will see the next regular Canadian equity session on:
- Monday, Dec. 29, 2025 (normal weekday session)
Regular TSX trading hours (when it’s not a holiday)
On a normal trading day, TSX and TSXV sessions run on a structured schedule that includes pre-open and continuous trading, with continuous trading from 9:30 a.m. to 4:00 p.m. ET.
That’s why holiday sessions stand out: reduced hours (like Dec. 24) can change liquidity and execution quality, especially in less actively traded names.
Why Christmas Day matters beyond “the exchange is closed”
For many retail investors, “market closed” sounds simple: “I can’t buy or sell today.” But the Christmas Day shutdown also affects the plumbing behind trading—clearing and settlement processes used across Canadian markets.
TMX CDS’ holiday processing schedule shows Christmas Day as a time when Canadian exchanges and CDSX functionality can be closed, reinforcing that the holiday isn’t just about the trading screen—it’s also about post-trade operations.
Practical impact for investors:
- You may still be able to enter orders in some brokerage platforms, but they generally won’t execute until markets reopen.
- Corporate news can still drop (earnings, guidance changes, M&A developments), but price discovery in Canadian-listed shares typically waits for the next trading session.
The latest market news from Dec. 24, 2025: What happened in Canada before the holiday break?
With Canada’s markets closed on Dec. 25, the last price action investors saw came from the holiday-shortened session on Dec. 24. Here are the key developments reported across major financial coverage that day.
1) TSX slipped in thin Christmas Eve trading as miners lagged
Canada’s benchmark S&P/TSX Composite Index dipped in the low-volume, shortened session on Dec. 24, 2025, pulling back after record highs earlier in the week. Reuters reported the index down about 0.3% to 31,981.98, with weakness concentrated in mining-related groups—gold miners and the broader mining sub-index both declining even as metals prices remained historically elevated.
The same report noted that the TSX was still tracking toward a standout year, with performance metrics pointing to one of its best annual runs in over a decade—helped by commodity-linked sectors and strength in financials.
Why that matters going into a closure: thin liquidity plus sector-heavy leadership (like commodities) can amplify moves on shortened sessions—sometimes making “the last print” before a holiday less informative than a normal full day.
2) The Canadian dollar strengthened toward a five-month high
In currency markets, Reuters reported the Canadian dollar rose toward a near five-month high on Dec. 24, supported by commodity pricing and broader U.S. dollar weakness. The loonie was reported around 1.3672 per U.S. dollar (about 73.14 U.S. cents).
But it wasn’t all upbeat macro data: Reuters also cited a preliminary estimate showing November factory sales falling (reported as a 1.1% decline), and noted that trading activity was winding down into the holiday period.
3) Wall Street hit fresh records in a holiday-shortened session—important for interlisted Canadian names
Even though your question is Canada-focused, U.S. market action matters because many large Canadian issuers are interlisted (trading in both Toronto and New York), and U.S. index direction often influences Canadian sentiment.
On Dec. 24, 2025, Reuters reported the Dow and S&P 500 closed at record highs in a shortened session, with markets shutting for Christmas Day.
This kind of cross-border divergence—U.S. indexes firming while Canada softens—can shape expectations for the next Canadian open, particularly if commodity prices move while Canada is offline.
What investors can do on Dec. 25, 2025 (when Canada’s stock market is closed)
Even with exchanges closed, you can still use the holiday to get organized—especially because Canada is also closed on Boxing Day, creating a longer pause for Canadian-listed trading.
Review pending orders and expiry times
If you placed orders during the shortened Dec. 24 session, confirm whether they:
- executed,
- partially filled, or
- remain open and will carry into the next session.
Check whether your broker supports “queued” orders during closures
Some platforms allow you to place orders during off-hours or holidays. Those orders generally sit until the market reopens, at which point they’re released (subject to your broker’s rules and the exchange’s opening auction mechanics).
Watch commodities and FX (Canada’s market drivers still move)
Canada’s market composition makes it sensitive to:
- oil,
- gold and other metals,
- CAD/USD moves.
Those can keep changing while TSX trading is paused, and they can influence gaps when markets reopen.
Plan around reduced liquidity on shortened days
TMX’s holiday operating schedule makes it clear that Dec. 24 is a shortened session, and history shows shortened sessions can bring:
- lighter volume,
- wider bid-ask spreads,
- less reliable price signals for small- and mid-cap shares.
(General information only—not investment advice.)
FAQ: Canada stock market hours around Christmas 2025
Is the TSX open on Dec. 25, 2025?
No. The TSX is closed on Christmas Day (Thursday, Dec. 25, 2025).
Is the TSX open on Boxing Day (Dec. 26, 2025)?
No. The TSX is also closed on Friday, Dec. 26, 2025 (Boxing Day).
Was the Canadian stock market open on Dec. 24, 2025?
Yes, but with shortened hours. TSX/TSXV closed at 1:00 p.m. ET and TSX Alpha closed at 1:30 p.m. ET.
Is the Canadian Securities Exchange (CSE) open on Dec. 25, 2025?
No. The CSE bulletin lists Dec. 25, 2025 as closed for Christmas Day.
What about U.S. markets on Dec. 25, 2025?
U.S. markets are also closed on Christmas Day, and they ran an early close on Dec. 24 (per official exchange holiday schedules).
Bottom line
Canada’s stock market is not open on Dec. 25, 2025. Christmas Day is a full market holiday across Canada’s major equity and derivatives venues, and it’s followed immediately by another full closure for Boxing Day (Dec. 26).
If you’re planning trades, the most important takeaway is timing: the last Canadian trading window before the break was the shortened Dec. 24 session, and the next meaningful opportunity for Canadian price discovery typically arrives when markets reopen after the two-day holiday closure and weekend.
