TORONTO, Oct. 3, 2019 /CNW/ - TD Bank Group has been
selected as the exclusive market-maker of the US dollar foreign
exchange option (USX), traded on The Montréal Exchange.
"As market-maker, we create liquidity in the USX market, and
with increased liquidity, investors have greater access to the
product to help manage their currency exposure," said Eric Poteet, North American Head of
Institutional FX Sales, TD Securities. "We are proud to have been
selected as the first Canadian bank to fulfil the USX market-maker
role."
This appointment represents a step forward in establishing
the USX as an accessible currency option product for Canadian
investors looking to protect themselves from fluctuations in the
value of the dollar. TD Bank Group was selected because of its
capabilities and successful track record of creating markets for
other Montréal Exchange-listed products.
"The Montréal Exchange is proud to welcome TD Bank Group as the
exclusive market-maker for the USX, our US dollar FX option," said
Luc Fortin, President and Chief
Executive Officer of MX and Global Head of Trading, TMX Group. "We
are excited to work with TD and to leverage their expertise and
premier position in foreign exchange markets in a collaborative
effort to accelerate the growth of the USX into the future."
About TD Bank Group
The Toronto-Dominion Bank and its
subsidiaries are collectively known as TD Bank Group ("TD" or the
"Bank"). TD is the fifth largest bank in North America by
branches and serves over 26 million customers in three key
businesses operating in a number of locations in financial centres
around the globe: Canadian Retail, including TD Canada Trust, TD
Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD
Insurance; U.S. Retail, including TD Bank, America's Most
Convenient Bank®, TD Auto Finance U.S., TD Wealth (U.S.), and an
investment in TD Ameritrade; and Wholesale Banking, including TD
Securities. TD also ranks among the world's leading online
financial services firms, with more than 13 million active online
and mobile customers. TD had CDN$1.4 trillion in assets
on July 31, 2019. The Toronto-Dominion Bank trades under the
symbol "TD" on the Toronto and New York Stock
Exchanges.
SOURCE TD Bank Group