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TD Securities
TD Securities Average Score 2022 Average Score 2021 Average Score last 3 years Global Average Difference with Global Average Capital Introductions 5.54 6.29 6.10 5.38 0.16 Client Services 6.52 6.68 6.69 6.14 0.38 Consulting 5.00 5.91 5.80 5.91 -0.91 Operations 6.15 6.40 6.24 6.00 0.15 Technology 5.88 5.57 5.73 5.79 0.09 Risk Management 5.25 6.00 5.42 5.88 -0.63 Asset Safety 6.12 6.57 6.34 6.15 -0.03 Trading and Execution 6.06 6.08 6.25 6.19 -0.13 Financing 6.06 5.89 5.98 5.81 0.25 Stock Borrowing and Lending 6.22 6.40 6.26 5.93 0.29 Foreign Exchange Prime Brokerage 4.50 6.40 5.30 6.04 -1.54 Fixed Income 4.50 6.00 5.61 6.00 -1.50 OTC Clearing 6.00 6.00 6.00 5.92 0.08 Listed Derivatives 5.56 6.43 6.00 6.07 -0.51 Average 5.67 6.19 5.98 5.94 -0.27
As it prepares to acquire Cowen , thereby significantly expanding its US presence , TD Bank ’ s prime services scores have taken a dip compared to 2021 , though most categories are still rated as Good ( 5.00 ) or Very Good ( 6.00-6.99 ). The overall average remains above 6.00 for respondents in the $ 1-10 billion AUM category . Some 19 % of the response pool for TD rate its overall service as Excellent and 33 % as Very Good . Both TD Prime Services and Cowen are regular participants in the Prime Brokerage survey . A three-year average of their survey scores by category suggests the two organisations are complementary in both their expertise and service priorities . TD ’ s best results over that period were for Client Services , Asset Safety and Stock Borrowing and Lending . Cowen ’ s were for Listed Derivatives , Trading and Execution and Operations . Although the results for Capital Introductions have dropped down a notch , the average for this service remains above the global score . “ TD provides a real personalised Cap Intro product that is tailored to our desired investor base ,” says one US client . “ They provide a customised product that is focused on reaching our ideal client base which leads to a higher hit rate and more valuable introductions . As a whole , I find their cap intro team has an attractive balance between relationships with some of the biggest institutions but also smaller Family Offices and everything in between .”
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