TD Bank Group completes acquisition of Headlands Tech Global Markets

By Pavithra R

The Toronto-Dominion Bank (TD Bank) has announced the completion of the acquisition of Headlands Tech Global Markets, a Chicago-based quantitative fixed income trading company.

“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,” said Moti Jungreis, Vice Chair and Head of Global Markets, TD Securities.

Founded in 2013, with offices in Chicago and San Francisco, Headlands Tech Global Markets is a FINRA-registered broker-dealer that provides proprietary liquidity to fixed income markets. Leveraging a unique fully automated approach, HTGM is able to provide accurate and timely pricing across hundreds of thousands of instruments in the fixed income. It has developed proprietary software to deliver fully automated electronic market-making in municipal and investment-grade corporate bonds. The firm’s 15 employees, including Co-CEOs Martin Mannion and Matthew Schrager, will join TD Securities.

The transaction adds capabilities to TD’s existing infrastructure as Headlands has developed proprietary software to deliver fully automated electronic market-making in municipal and investment grade corporate bonds.

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group. It is the fifth-largest bank in North America by assets and serves over 26 million customers in 3 key businesses operating in a number of locations in financial centres around the globe: Canadian Retail, including TD Canada Trust, TD Auto Finance Canada, TD Wealth (Canada), TD Direct Investing, and TD Insurance; U.S. Retail, including TD Bank, America’s Most Convenient Bank, TD Auto Finance U.S., TD Wealth (U.S.), and an investment in The Charles Schwab Corporation; and Wholesale Banking, including TD Securities.