How are companies within an index scored?

Each company's primary domain is analyzed for SPF, DKIM, DMARC, BIMI, MTA-STS, DANE/TLSA and DNSSEC. Points are awarded for each standard based on its quality and strictness, totaling up to 100.

What does the grade distribution tell me?

The grade distribution shows the spread of scores across all companies in the index. If most companies score A or A+, the index has strong overall email security. A wide spread from A+ to F indicates significant variation.

Why might a well-known company score poorly?

Email security configuration is often managed independently from other cybersecurity controls. A company may have strong network security but still lack proper DMARC enforcement or MTA-STS deployment.

How often are scores updated?

All domains are rescanned weekly. Changes in DNS records are reflected in the next weekly scan.

🇨🇦 TSX 60 Email Security

Weekly audit of email security across 60 companies in the TSX 60.

Toronto Stock Exchange · 60 companies analysed · Scan week: 2026-03-23

Companies listed in the TSX 60 score an average of 49/100 for email security this week.
0% of TSX 60 companies achieve a grade of A+ or A in email authentication, while 47% receive a D or F.
The average score of 49 is 7 points above the global average of 42, indicating stronger-than-average email security practices.
98.3% of TSX 60 companies have deployed DMARC email authentication, and 65% enforce a strict reject policy to block spoofed emails.
SPF record deployment stands at 93%, authorizing legitimate sending servers and helping prevent email spoofing.
13% of companies have configured BIMI to display their verified brand logo in supported email clients.
0% enforce TLS encryption for inbound email delivery via MTA-STS, protecting against downgrade attacks.
DNSSEC is enabled on 11.7% of TSX 60 domains, adding cryptographic validation to DNS queries.
Loblaw Companies leads the TSX 60 with a top score of 73/100 (B).
First Quantum Minerals has the lowest score at 14/100, indicating significant gaps in email security configuration.
Scores range from 14 to 73 with a median of 50, reflecting varied levels of email security maturity across the index.

Average score

49/ 100

DMARC reject

65%

BIMI configured

13%

MTA-STS enforce

DNSSEC enabled

11.7%

A+

Average

Median

Min

Max

Company

		Country		Grade	DMARC	SPF	BIMI	MTA-STS	DANE-TLSA	DNSSEC
1	Loblaw Companiesloblaw.ca	🇨🇦 Canada	73	B	reject	-all	✗	✗	✗	✓
2	Thomson Reuters Corporationthomsonreuters.com	🇨🇦 Canada	73	B	reject	-all	✗	✗	✗	✓
3	Enbridgeenbridge.com	🇨🇦 Canada	70	B	reject	~all	✗	✗	✗	✓
4	Celesticacelestica.com	🇨🇦 Canada	69+2	C	reject	-all	✓	✓	✗	✗
5	Fortis Inc.fortisinc.com	🇨🇦 Canada	69	C	reject	-all	✗	✗	✗	✓
6	Magna Internationalmagna.com	🇨🇦 Canada	66	C	reject	~all	✗	✗	✗	✓
7	CGI Inc.cgi.com	🇨🇦 Canada	62	C	reject	-all	✓	✗	✗	✓
8	Metro Inc.metro.ca	🇨🇦 Canada	59	C	reject	-all	✗	✗	✗	✗
9	Canadian Pacific Kansas Citycpkcr.com	🇨🇦 Canada	59	C	reject	-all	✗	✗	✗	✗
10	Canadian National Railwaycn.ca	🇨🇦 Canada	59	C	reject	-all	✗	✗	✗	✗
11	Royal Bank of Canadarbc.com	🇨🇦 Canada	58	C	reject	-all	✗	✗	✗	✗
12	CIBCcibc.com	🇨🇦 Canada	58	C	reject	-all	✗	✗	✗	✗
13	Shopifyshopify.com	🇨🇦 Canada	57	C	reject	~all	✓	✗	✗	✗
14	Telustelus.com	🇨🇦 Canada	56	C	reject	~all	✓	✗	✗	✗
15	Power Corporation of Canadapowercorporation.com	🇨🇦 Canada	56	C	reject	~all	✗	✗	✗	✗
16	Bank of Montrealbmo.com	🇨🇦 Canada	56	C	reject	~all	✗	✗	✗	✗
17	Bank of Nova Scotiascotiabank.com	🇨🇦 Canada	55	C	reject	-all	✗	✗	✗	✗
18	National Bank of Canadabnc.ca	🇨🇦 Canada	55	C	reject	-all	✓	✗	✗	✗
19	George Westonweston.ca	🇨🇦 Canada	55	C	reject	~all	✗	✗	✗	✗
20	Emeraemera.com	🇨🇦 Canada	55	C	reject	~all	✗	✗	✗	✗
21	Waste Connectionswasteconnections.com	🇨🇦 Canada	55	C	reject	~all	✗	✗	✗	✗
22	Canadian Natural Resourcescnrl.com	🇨🇦 Canada	55	C	reject	~all	✗	✗	✗	✗
23	Wheaton Precious Metalswheatonpm.com	🇨🇦 Canada	54	C	quarantine	-all	✗	✗	✗	✗
24	OpenTextopentext.com	🇨🇦 Canada	54	C	reject	~all	✓	✗	✗	✗
25	Camecocameco.com	🇨🇦 Canada	53	C	none	-all	✗	✗	✗	✗
26	Agnico Eagle Minesagnicoeagle.com	🇨🇦 Canada	52	C	reject	-all	✗	✗	✗	✗
27	CCL Industriescclind.com	🇨🇦 Canada	52	C	quarantine	~all	✗	✗	✗	✗
28	Fairfax Financial Holdingsfairfax.ca	🇨🇦 Canada	52	C	quarantine	~all	✗	✗	✗	✗
29	Franco-Nevadafranco-nevada.com	🇨🇦 Canada	51	C	quarantine	-all	✗	✗	✗	✗
30	CAE Inc.cae.com	🇨🇦 Canada	51	C	reject	-all	✗	✗	✗	✗
31	Sun Life Financialsunlife.com	🇨🇦 Canada	50	C	reject	~all	✓	✗	✗	✗
32	Teck Resourcesteck.com	🇨🇦 Canada	50	C	none	-all	✗	✗	✗	✗
33	Hydro Onehydroone.com	🇨🇦 Canada	49	D	quarantine	-all	✗	✗	✗	✗
34	Constellation Softwarecsisoftware.com	🇨🇦 Canada	49	D	quarantine	~all	✗	✓	✗	✗
35	Dollaramadollarama.com	🇨🇦 Canada	48	D	none	~all	✗	✗	✗	✗
36	TC Energytcenergy.com	🇨🇦 Canada	48	D	reject	~all	✗	✗	✗	✗
37	Imperial Oilimperialoil.ca	🇨🇦 Canada	47	D	reject	-all	✗	✗	✗	✗
38	Toronto-Dominion Banktd.com	🇨🇦 Canada	47	D	reject	-all	✓	✗	✗	✗
39	Nutriennutrien.com	🇨🇦 Canada	46	D	quarantine	~all	✗	✗	✗	✗
40	Pembina Pipelinepembina.com	🇨🇦 Canada	46	D	quarantine	~all	✗	✗	✗	✗
41	Manulife Financialmanulife.com	🇨🇦 Canada	46	D	quarantine	~all	✗	✗	✗	✗
42	Suncor Energysuncor.com	🇨🇦 Canada	46	D	quarantine	~all	✗	✗	✗	✗
43	Saputosaputo.com	🇨🇦 Canada	46	D	none	-all	✗	✗	✗	✗
44	Barrick Miningbarrick.com	🇨🇦 Canada	44	D	reject	~all	✗	✗	✗	✗
45	Intact Financialintactfc.com	🇨🇦 Canada	44	D	reject	~all	✗	✗	✗	✓
46	WSP Globalwsp.com	🇨🇦 Canada	44	D	reject	-all	✗	✗	✗	✗
47	BCE Inc.bce.ca	🇨🇦 Canada	44	D	reject	~all	✗	✗	✗	✗
48	Cenovus Energycenovus.com	🇨🇦 Canada	44	D	reject	~all	✗	✗	✗	✗
49	Rogers Communicationsrogers.com	🇨🇦 Canada	43	D	none	~all	✗	✗	✗	✗
50	Canadian Tirecanadiantire.ca	🇨🇦 Canada	41	D	none	~all	✗	✗	✗	✗
51	Restaurant Brands Internationalrbi.com	🇨🇦 Canada	41	D	quarantine	-all	✗	✗	✗	✗
52	Alimentation Couche-Tardcouche-tard.com	🇨🇦 Canada	39	D	none	-all	✗	✗	✗	✗
53	Kinross Goldkinross.com	🇨🇦 Canada	38	D	quarantine	~all	✗	✗	✗	✗
54	FirstService Corporationfirstservice.com	🇨🇦 Canada	36	D	quarantine	~all	✗	✗	✗	✗
55	Tourmaline Oiltourmalineoil.com	🇨🇦 Canada	35	D	reject	-all	✗	✗	✗	✗
56	Gildan Activeweargildancorp.com	🇨🇦 Canada	32	D	reject	-all	✗	✗	✗	✗
57	Brookfield Asset Managementbam.brookfield.com	🇨🇦 Canada	18	F	reject	—	✗	✗	✗	✗
58	Brookfield Corporationbn.brookfield.com	🇨🇦 Canada	18	F	reject	—	✗	✗	✗	✗
59	Brookfield Infrastructure Partnersbip.brookfield.com	🇨🇦 Canada	18	F	reject	—	✗	✗	✗	✗
60	First Quantum Mineralsfirst-quantum.com	🇨🇦 Canada	14	F	—	—	✗	✗	✗	✗

Understanding index-level analysis

A stock index groups the largest companies in a market. Analyzing their email security provides a representative snapshot of how a country's or region's corporate sector protects against email-based threats.

What this page shows:

Average score - The mean email security score across all constituent companies
Grade distribution - How many companies fall into each grade bracket (A+ through F)
Company table - Individual scores, grades and key indicator status for each company
Sector breakdown - How different industries within the index compare

Key standards tracked

Each company is evaluated on:

SPF - Is the sending policy properly configured? Does it use -all (hard fail)?
DKIM - Are signing keys published and strong enough (2048-bit minimum)?
DMARC - Is a policy in place? Is it set to quarantine or reject?
BIMI - Is the brand logo published for inbox display?
MTA-STS - Is inbound email transport encryption enforced?
DNSSEC - Is the DNS zone signed to prevent spoofing?

FAQ - Frequently asked questions

Q: How are companies scored?

A: Each domain is analyzed for email authentication standards and awarded up to 100 points across three pillars.

Q: What does the grade distribution show?

A: The spread of scores from A+ to F, indicating overall index maturity.

Q: Can I compare indices?

A: Yes, via the Statistics page.

Page	Purpose
Observatory Dashboard	Overall overview with key metrics
Statistics	Cross-index and cross-sector comparison
Email Domain Check	Audit your own domain

🇨🇦 TSX 60 Email Security

Company

Understanding index-level analysis

Key standards tracked

FAQ - Frequently asked questions

Related pages