February 11, 2014 / 9:24 PM / in 4 years

TD Securities becomes U.S. primary dealer -NY Fed

NEW YORK, Feb 11 (Reuters) - The Federal Reserve added TD Securities to its list of primary dealers, bringing to 22 firms the number of firms that can do business directly with the U.S. central bank, the New York Federal Reserve said on Tuesday.

TD Securities is the U.S. broker-dealer unit of Toronto-Dominion Bank.

Along with TD Securities, the U.S. units of three other Canadian banks - Bank of Nova Scotia, BMO Capital Markets Corp. and RBC Capital Markets - are among firms that are allowed to participate in the Fed’s open market operations and U.S. government bond auctions.

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