TORONTO, Dec. 21, 2011 /CNW/ - The Toronto-Dominion Bank (TD) today announced that it has become a full member of the London Bullion Market Association (LBMA), bolstering its wholesale sales and trading offering in the precious metals market.
The LBMA is the London-based trade association which represents the wholesale over-the-counter markets for gold and silver. TD is also a full member of the London Platinum and Palladium Market, a similar association for platinum and palladium. TD offers a full suite of sales and trading services in precious metals to its client base from offices in Singapore, London, and New York.
"We're excited to be joining the LBMA and about the opportunity this represents for our clients. Precious metals and associated sectors have gained strategic importance for TD and have also become increasingly important to investors and manufacturers world wide," said Tim Gardiner, Managing Director, Global Precious Metals, TD Securities. "In addition to vibrant and growing precious metals desks, TD has made a strong, long term commitment to the commodities sector in investment banking, equities, debt facilities, and research."
TD is currently the only commercial bank in the physical and OTC precious metals markets to be rated Triple-A by Moody's.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group (TD). TD is the sixth largest bank in North America by branches and serves approximately 20.5 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, TD Insurance, and TD Auto Finance Canada; 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 TD Auto Finance U.S.; and Wholesale Banking, including TD Securities. TD also ranks among the world's leading online financial services firms, with more than 7.5 million online customers. TD had CDN$686 billion in assets on October 31, 2011. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto and New York Stock Exchanges.