The pair have communicated to clients that it would be in the best interest for the businesses to find a more ‘strategically and geographically aligned’ partner; TD acquired Cowen in March for $1.3 billion.
The acquisition adds new capabilities in US equities to TD’s remit; Cowen client base is expected to benefit from TD’s balance sheet and capital markets business.
The “robust” plans propose stricter limits on crypto lending, as well as the introduction of a new crypto market abuse regime and tighter rules on the role of financial intermediaries and custodians.
The TRADE sits down with head of European market structure at Cowen, James Baugh, to explore the systematic internaliser regime and which areas of the market regulators in the UK and Europe could be focusing on in the year to come.
The acquisition will boost Toronto-based TD’s US expansion plans, creating an integrated North American dealer.
The new solution offered by Enfusion has been backed by Cowen, which has been named the first partner to offer the OEMS to its client base.
New co-head joins from Cowen, where he served as director of prime brokerage and outsourced trading.
SS&C Eze will provide clients with improved broker-agnostic access to institutional liquidity across the market.
New division offers full trade execution and custody service with plans to include derivatives and futures, DeFi and NFT access in the future.
New managing director will support Cowen’s fixed income expansion efforts in Europe and Asia after launching its offering in the asset class at the start of last year.