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TD Waterhouse acquires OMX Securities

UK execution only broker TD Waterhouse is acquiring 100 per cent of the share capital of OMX Securities Services, a provider of outsourced clearing and settlement services.

Upon completion of the deal, OMX Securities will rebrand and trade as TD Waterhouse Corporate Services, Europe.

The deal will see TDWH widen its outsourced settlement and administration services to corporate clients including stockbrokers, wealth managers, fund managers and institutions.

OMX Securities currently services 22 clients, managing over £4bn in assets for over 100,000 underlying client accounts.

In February, TDWH also increased its stake in offshore online bank Internaxx and acquired the online sharedealing client base of Hoodless Brennan.

TDWH CEO Angus Rigby says: “OMX Securities is a natural and perfect fit for us. We have been successfully providing white label solutions for some time and this is an area we are keen to expand.”


Direct-only cover deals

Further to recent concerns over the availability of professional indemnity cover for advice regarding “direct-only mortgages”, I thought your readership might be interested in the following observations from PYV.

Paul Lothian

Personal Finance Society president Paul Lothian started his financial services career at the age of 17 when, struggling for a big break in the music business, he joined his parents’ Dundee insurance brokerage as an office junior.


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