TD Waterhouse said Tuesday that it signed a letter of intent to join Redibook, an electronic communications network consortium.

TD Waterhouse, the New York-based discount brokerage arm of Toronto-Dominion Bank, joins four other financial services companies in the consortium. The broker-dealer had been in discussions with Island ECN, another similar group, but failed to reach an agreement. Terms of the transaction with Redibook were not disclosed.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.