Waterhouse buys into clearing through OMX

STOCKBROKER TD Waterhouse (TDW) announced yesterday it has agreed to buy clearing and settlement service house OMX Securities.<br /><br />OMX, which is currently 51 per cent owned by the Nasdaq OMX Group, will continue to operate as a separate business once the deal is finalised, and will rebrand as TD Waterhouse Corporate Service (Europe).<br /><br />&ldquo;OMX Securities is a natural and perfect fit for us,&rdquo; said TDW chief executive Angus Rigby. &ldquo;OMX Securities&rsquo; knowledge of outsourced solutions is second to none and by integrating their expertise and resources into TDW we can establish ourselves as a leader in this market.&rdquo;<br /><br />The deal marks a third acquisition by the firm this year, after it upped its stake in Luxembourg-based offshore bank Internaxx and acquired the online sharedealing client base of stockbroker Hoodless Brennan.