(April 14 – 13:45 ET) – TD Waterhouse Group has completed the formal acquisition of the discount brokerage business of CT Securities Inc. from CT Financial Services Inc. CT Financial Services was acquired by The Toronto-Dominion Bank in February, 2000.

CTSI’s discount brokerage business services 93,000 active accounts with US$2 billion in customer assets. The purchase price was US$96.8 million.

CTSI’s discount brokerage customers will see no immediate changes to their accounts and will be notified in writing with details of the transition of their accounts, which is expected to occur in the late spring.
-IE Staff