ETFs were first introduced as an innovative concept that developed right here in Canada on the Toronto Stock Exchange back in 1989. The first ETF was known as the Toronto Index Participation Fund -- or TIPs 35. Three years later in 1992, the AMEX listed its first tradable basket of stocks with the launch of the Standard & Poor's Depositary Receipt, more commonly known as SPDRs.
With ETFs growing in popularity, so too have the assets under management and the number and breadth of products available in the marketplace today. There are now more than 2,000 ETFs listed on exchanges all around the world in major markets such as North America, Europe, Asia, South America and the Middle East, and ETFs represent today close to $1 trillion globally as at the end of 2009.