Waterhouse buys into clearing through OMX
STOCKBROKER TD Waterhouse (TDW) announced yesterday it has agreed to buy clearing and settlement service house OMX Securities.
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).
“OMX Securities is a natural and perfect fit for us,” said TDW chief executive Angus Rigby. “OMX Securities’ 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.”
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.