TD Waterhouse on Wednesday announced its intention to take over the remaining 50% of market making joint venture Aitken Campbell from The Charles Schwab Corp.

The transaction will be made by a UK-based TD Waterhouse subsidiary of The Toronto-Dominion Bank, and is expected to be completed within the next few months. Terms of the deal which is subject to regulatory and other approvals, were not disclosed.

TD Waterhouse says it will continue to run the business as an independent market maker. Market makers are exchange members firms that act as dealers in individual securities, providing liquidity by buying and selling the specific stocks they trade.

Tim Pinnington, CEOr of TD Waterhouse UK, said: “TD Waterhouse remains optimistic about the long range prospects of the U.K. equities market. This deal allows us to increase our stake at the bottom of the cycle. Aitken Campbell is a strong business with a highly experienced team and is well positioned to take advantage of future upturns in the market.”

The Glasgow-based firm has approximately 60 employees and makes a market in over 250 U.K. securities.

TD Waterhouse acquired 50% of Aitken Campbell in a joint venture with Schwab in May 2001.