Australian Bond Exchange Holdings Limited (‘ABE’ or ‘the Company’) (ASX: ABE) is pleased to announce the appointment of TD Prime Services LLC (‘TDPS’), which operates under the TD Securities brand, as ABE’s prime broker to provide prime brokerage and custodial services to ABE’s Singapore subsidiary, ABE Capital Markets Pte Ltd, effective immediately.
TDPS is a U.S. registered broker-dealer and a member of the Financial Industry Regulatory Authority (‘FINRA’). This appointment and resulting commercial engagement will significantly expand ABE’s capabilities in Australia and abroad.
The appointment is the culmination of two years of strategic collaboration between ABE’s teams in Australia and Singapore and TDPS’ team in New York.
The appointment means Australian investors will have improved access to global financial markets in alignment with ABE’s mission to make financial products accessible to all. The appointment complements ABE’s existing Australian custodian relationship with Perpetual Limited (ASX: PPT). What this means for Australian Investors ABE believes that Australian private investors, financial advisers, stockbrokers and superannuation funds will significantly benefit from the additional range of products and services that ABE will be able to introduce to the Australian market by combining its existing trade and settlement technology with unparalleled direct access to global financial markets in a manner not seen before in Australia.
The appointment of TDPS as prime broker represents a significant step for ABE in working towards achieving its strategic goals of eliminating barriers to entry to the bond market, simplifying the way financial markets work, providing improved access and more efficient trading, lowering transaction costs, and introducing new levels of transparency.
About TD Securities TD Securities is a Canadian investment bank and financial services provider that offers advisory and capital market services to corporate, government, and institutional clients worldwide.
It is the investment banking arm of Toronto-Dominion Bank Group, which is the sixth largest bank in North America by number of branches serving more than 26 million customers.
The bank had CAD$1.7 trillion (AUD$1.9 trillion) in assets in fiscal 2020.
TD Securities provides a variety of capital market, investment banking and corporate banking products and services, offering underwriting and distribution of new debt and equity issues, advice on strategic acquisitions and divestitures, and assistance with trading and investment activities.
About Prime Brokerage Prime brokerage is the generic term for a bundled package of services offered by large global investment banks to hedge funds and other financial institutions (such as ABE) to be able to trade, borrow and invest in cash, securities and complex derivative products.
Prime brokerage services are generally only offered to highly sophisticated institutional finance companies with significant market capitalisation and operational capability. Prime brokers’ access to worldwide exchanges, complex multi-asset products and global markets provides an unparalleled advantage for financial institutions looking to trade and compete on the global stage. Services typically bundled into the prime brokerage package include (but are not limited to):
• Global custody and clearing
• Trading and direct market access across the global financial markets
• Securities lending
• Financing and leverage solutions
• Technology support and reporting
• Capital introduction
• Operational support
• Risk management advisory The Company remains well-funded and is focused on a number of operational initiatives to increase retail and institutional client numbers and volumes while also building out the demand pipeline to originate and distribute new products as they are introduced.
Steve Alperstein Company Secretary
DYOR
i hold ABE
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