Source: Novitas Partners
On October 28th 2009 TD Waterhouse Investor Services (Europe) Limited ("TD Waterhouse"), one of the UK's leading share dealing service providers, completed its acquisition of 100% of OMX Securities Services UK LLP ("OMX Securities"), a provider of outsourced clearing and settlement services in the UK.
· OMX Securities was jointly owned by Nasdaq OMX and a group of private investors who originally established the business. It currently services 22 institutional clients, on behalf of whom it manages in excess of £4 billion in assets for over 100,000 underlying client accounts .
Significance
· OMX Securities is already one of the UK's pre-eminent suppliers of outsourced settlement and administration solutions. Becoming part of TD Waterhouse strengthens its proposition and allows it to expand the range of solutions offered to existing and new clients.
· TD Waterhouse has been successfully providing white label solutions for some time. OMX Securities' knowledge, expertise and resources will enable TD Waterhouse to become a leader in this market.