Toronto Dominion Eyes Securities Boon To Bank's U.S. FX Business?

BANKS

Toronto Dominion Bank is about to become a U.S. broker-dealer in Canadian government securities, according to sources at the bank. Analysts say that the new securities business will likely translate into greater activity for Dominion Bank's New York foreign exchange trading desk as new customers seek to offset the Canadian dollar currency risk.

Eric Bussay, a vice-president and manager of corporate foreign exchange says the bank currently focuses on the "strengths that we have which are the

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