The Toronto-Dominion Bank (TD Bank) has announced the completion of its acquisition of Headlands Tech Global Markets, LLC (Headlands), a fixed income trading company headquartered in Chicago.
The deal, which was first announced on March 23, was subjected to several processes of evaluation and scrutiny which made its completion very uncertain. The bank, at the time, indicated that the deal was contingent on a set of defined closing conditions which it was still evaluating.
Acquiring Headlands will give TD Bank access to its technology, bolstering its current infrastructure with Headland’s proprietary software, which facilitates fully automated electronic market-making in municipal and investment-grade corporate bonds.
Moti Jungreis, TD Securities’ Vice Chair and Head of Global Markets said: “This acquisition underscores our commitment to offer innovative technology that elevates and augments our suite of products and services. We welcome the Headlands team to TD Securities and I know that uniting our organizations will allow us to deliver continued innovation and value for our clients.”
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