TD Securities

TD Securities is the investment banking and capital markets arm of Toronto Dominion Bank, more commonly known as TD Bank. TD Securities claims to be far more of an organically grown division than other investment banking components of large banks. It has three parts, an investment banking arm, a capital markets division and global transaction services. It also has a research team that covers 270 companies with equity research; it also has a currency research arm.

The investment banking arm is a standard investment banking operation offering capital raising and financial advisory services. It is one of the leading mergers and acquisitions advisors in Canada, and it also has strong capital origination and structuring offerings in both the credit and equity markets. It arranges and underwrites a range of credit products, and it also has a large presence as a successful investor in mezzanine finance.

TD Securities is one of Canada’s leading operations in institutional equities. This is largely a result of the merger with Newcrest Capital in 2000, which was an employee owned dealer founded in 1995. The institutional equities trader is called TD Newcrest. The current Chief Executive Officer of TD Securities came from Newcrest Capital. They also have a prime brokerage that is one of the leading service providers to hedge fund managers, pension funds and family offices.

There is an active foreign exchange desk that is a major trader in Canadian dollar contracts both in Canada and overseas. Their fixed income operation has both an advisory arm aiming to provide the best income rates for institutional investors as well as offering an execution service for trading of fixed income securities such as corporate and government debt. The loan sales and trading business is based in New York to distribute debt offerings for leveraged transactions. It is a strong presence in oil and gas, forestry products and media. The capital markets division also has operations in market risk management, equity derivatives and structured risk notes.

Global transaction services are the equivalent of a merchant bank, helping Canadian companies to do business in foreign countries through correspondent banking. Trade finance is also available for exporters, with access to trade insurance. Exporting can be one of the more difficult parts of a business with clients who are under different legal systems, exchange rate fluctuations and long delays between dispatching the goods and receiving payment due to the delay in sending the goods to foreign markets. There is also a domestically focused cash management business to help companies deal with various types of treasury and payment processing services. Payroll and tax payment systems are also offered by TD Securities. The cash management business also provides technological solutions to help companies have real time access to their financial situation.

TD, or Toronto Dominion Bank is the second largest retail bank in Canada which was created by a merger in 1955 of the Bank of Toronto and Dominion Bank. It has seventeen million customers and 74,000 customers throughout the world.