TD Bank Group continues to lead Canada’s FX industry thanks to a year of strong performance and client-centric investment. With a more than doubling year-on-year increase in eFX volumes and a significant rise in emerging-market (EM) FX volumes, TD’s strategic pivot from vendor-based to proprietary technology has delivered measurable impact across its FX franchise.
The launch of TD’s in-house FX pricing platform has significantly developed the bank’s electronic trading, achieving a number-one request-for-quote (RFQ) spot-dealer ranking for US$/C$. This technological edge is complemented by the Panoramic data portal, which has strengthened client segmentation and profitability analysis, enabling smarter, data-driven decisions across institutional, commercial and retail segments.
TD’s FX business is deeply embedded in the Canadian financial ecosystem. Its 14 FX centres across the country, tailored to high-net-worth (HNW) and culturally diverse communities, have delivered triple-digit growth in revenue and volume. Meanwhile, the foreign cash forecasting tool, developed in partnership with a London-based vendor, has driven a 17% increase in foreign cash volumes.
TD’s integrated approach across retail, wealth and wholesale banking makes it a standout leader
Client outcomes remain at the heart of TD’s strategy. The ‘think like a customer’ mindset has led to an increase in corporate FX activity by a third, while partnerships such as the one with XTX Markets have accelerated TD’s algorithmic trading capabilities, delivering strong execution.
Finally, TD’s infrastructure passed the April 2025 Liberation Day stress test without a single dropped connection, and the automation of regulatory processes such as Bill C-30 dormancy notices has reduced operational risk. Its integrated approach across retail, wealth and wholesale banking makes it a standout leader in Canada’s FX landscape.
