I think yes. It attracts more bigger investor than day trader and recently the index has reached an all time high of 12000, it doubled during a few years from the big crash of 2000. Big Canadian companies are generally both trade on TSX and NYSE, for example NT, RY, TD, etc. In brief, Nicolas Darvas once said it's the same as Wall Street.
I know some people who trade the S&P60 Futures market which is a futures mkt on 60 stocks that are in the TSE......it is listed on IB as tse60.......
trade the tse60 futures. good way to trade resouces but banks have good weighting also. trades these through the montreal derivatives exchange. you can also trade the cgb(10 yr bonds).
The TSE does enough Volume to handle even the most aggressive daytraders assuming you stick with the most actives, anyone with a little effort could pull up www.tsx.com but as usual most Americans know nada about anything that is not inside the border. We trade it all the time up here EH... right after we have our morning bacon and leave the igloo on our dog sleds for work.