American online broker TD Ameritrade may foray into Asian market if its surplus cash grows as much as it expects after US interest rates start to rise, Reuters quoted the company’s CEO Fred Tomczyk as saying.
The ‘next big thing’ the discount brokerage firm could invest in is ‘geographic extension,’ Tomczyk told investors at a conference sponsored by Bank of America Merrill Lynch.
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"It is not an unnatural move for us to try to do it in another part of the world, particularly in Asia," he said.
However, he cautioned that it would take five years or so before an overseas business contributes notably to the bottom line.
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