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TD Securities partners in historic initiative to help Canadian industry reduce greenhouse gas emissions
TORONTO, May 30 /CNW/ - TD Securities announced it will be a market maker
for the new Canadian Carbon Future contract introduced today on the Montreal
Climate Exchange, a joint venture of the Montreal Exchange and the Chicago
Climate Exchange. By providing market liquidity, TD Securities will aid a wide
cross-section of industry participants in meeting greenhouse gas emission
reduction targets. TD is the only Canadian market maker involved in this
historic initiative.
"TD Securities is very pleased to extend its relationship with the
Montreal Climate Exchange through participation in the emerging GHG emissions
market" said Bimal Morjaria, Vice Chair and Global Head, Equity and Energy
Derivatives, TD Securities. "We're committed to our role as the market leader
in the exchange traded derivatives market in Canada."
The first regulated environmental market future in Canada, the Carbon
Future contract will provide a pricing mechanism for carbon emissions in
Canada. Initially there will be four futures listed with expiries ranging from
June 2011 to March 2012. The future is based on 100 Canada carbon dioxide
equivalent (CO(2)e) units.
"Our partnership with the Montreal Climate Exchange is one component of
our overall environmental strategy," added Mike Pedersen, Group Head Corporate
Operations, TD Bank Financial Group. "To reduce our own emissions we're
working hard to ensure our Canadian operations are carbon neutral in 2010, and
TD is the first major bank in Canada to adopt this goal. We're also committed
to the environment at the local level through our TD Friends of the
Environment Foundation, which has given $45 million to fund 17,000 grassroots
environment projects since its inception 18 years ago."
About TD Securities
TD Securities is a trademark of The Toronto-Dominion Bank representing TD
Securities Inc., TD Securities (USA) LLC, TD Securities Limited and certain
corporate and investment banking activities of The Toronto-Dominion Bank.
TD Securities provides a wide range of capital market products and services to
corporate, government and institutional clients who choose us for our
knowledge, innovation and experience in the following key areas of finance:
Investment and Corporate Banking, Capital Markets, Interest Rate, Currency and
Derivative Products. TD Securities works with clients around the world and our
services include the underwriting and distribution of new debt and equity
issues, providing advice on strategic acquisitions and divestitures, and
executing daily trading and investment needs. To learn more about
TD Securities, visit www.tdsecurities.com.
About TD Bank Financial Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group is the seventh largest bank
in North America by branches and serves approximately 17 million customers in
four key businesses operating in a number of locations in key financial
centres around the globe: Canadian Personal and Commercial Banking, including
TD Canada Trust; Wealth Management, including TD Waterhouse and an investment
in TD Ameritrade; U.S. Personal and Commercial Banking through TD Banknorth
and Commerce; and Wholesale Banking, including TD Securities. TD Bank
Financial Group also ranks among the world's leading on-line financial
services firms, with more than 5.5 million on-line customers. TD Bank
Financial Group had CDN$503.6 billion in assets as of April 30, 2008. The
Toronto-Dominion Bank trades on the Toronto and New York Stock Exchanges under
the symbol "TD", as well as on the Tokyo Stock Exchange.
For further information: Julia Koene, Corporate Communications, TD Bank Financial Group, (416) 307-8664 or julia.koene@td.com
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