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TD Bank Group named exclusive market-maker of USX on the Montreal Exchange
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
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