TORONTO, Oct. 1, 2019 /CNW/ - TD Bank Group ("TD")
comments on the announcement earlier today that TD Ameritrade will
eliminate commissions for online exchange-listed stock, ETF
(U.S. and Canadian) and option trades.
TD expects the impact to TD Ameritrade's fiscal 2020
earnings to have a proportional effect on TD's reported equity in
net income of an investment in TD Ameritrade for fiscal 2020, which
will be reported under International Financial Reporting Standards.
TD Ameritrade has indicated that it will provide more information
about its fiscal 2020 plan when it releases its fourth quarter
earnings on October 21, 2019.
About TD Bank Group
The Toronto-Dominion Bank and its subsidiaries are collectively
known as TD Bank Group ("TD" or the "Bank"). TD is the fifth
largest bank in North America by
branches and serves over 26 million customers in three 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 TD Ameritrade; and Wholesale Banking, including
TD Securities. TD also ranks among the world's leading online
financial services firms, with more than 13 million active online
and mobile customers. TD had CDN$1.4 trillion in assets on July 31, 2019. The Toronto-Dominion Bank trades
under the symbol "TD" on the Toronto and New York Stock Exchanges.
SOURCE TD Bank Group