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The Toronto-Dominion Bank Announces UK Gilts Primary Dealer Status
TORONTO, March 29 /CNW/ - The Toronto-Dominion Bank (London Branch) today announced that it has been recognized as a Gilt-Edged Market Maker (GEMM) by the UK Debt Management Office and the London Stock Exchange in the retail sector for both conventional and index-linked gilts, effective April 12, 2010. As a GEMM, The Toronto-Dominion Bank will be participating in the UK Government's Gilt auctions and act as a market maker for both.
The Gilt market has been increasing significantly in size with UK Government issuances rising to (pnds stlg)225.1bn for 2009-10 from (pnds stlg)146.5bn for 2008-09, according to data from the UK Debt Management Office. The Toronto-Dominion Bank will now have greater access to this significant source of high quality bonds.
This designation demonstrates Toronto-Dominion Bank's commitment to the UK Fixed Income market and is a natural extension of its global rates business. "We're very excited to be able to provide our clients increased access to this important debt market," said Moti Jungreis, Global Head of FX Trading, Short Term Interest Rates and International Fixed Income at TD Securities. "This will allow us to better support our customers globally and leverage our existing distribution channels," added Mr. Jungreis.
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 sixth largest bank in North America by branches and serves more than 18 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 and TD Insurance; Wealth Management, including TD Waterhouse and an investment in TD Ameritrade; U.S. Personal and Commercial Banking, including TD Bank, America's Most Convenient Bank; and Wholesale Banking, including TD Securities. TD Bank Financial Group also ranks among the world's leading online financial services firms, with more than 6 million online customers. TD Bank Financial Group had CDN$567 billion in assets on January 31, 2010. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.
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