Toronto is considered the financial capital of Canada, with a high concentration of banks and brokerage firms in the Financial District. The Toronto Stock Exchange is the world's seventh-largest stock exchange by market capitalization. Royal Bank, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce are all headquartered in Toronto.
Media, publishing, telecommunications, information technology and film production industries are important to Toronto's economy. Other prominent Canadian corporations in Toronto include Sun Life Financial, Four Seasons Hotels, the Hudson's Bay Company and Manulife Financial.
Toronto is an important wholesale and distribution point for the industrial sector. Most manufacturing activities in the Greater Toronto Area take place outside the city but its strategic position helps sustain the nearby production of motor vehicles, steel, machinery, food, iron, chemicals and paper.
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