{"url":"https://etfiq.com/trading/authorized-participants/td-securities-usa/","section":"trading","title":"TD Securities (USA): ETF Authorized Participant (AP) | ETFIQ","description":"TD Securities (USA) LLC was an authorized participant (AP) for 880 US ETFs in Form N-CEN periods ending Jul 31, 2025 to Jun 30, 2026. Facts only.","as_of":"Sep 23, 2026","structured_data":[{"@type":"Corporation","name":"TD Securities (USA) LLC","url":"https://etfiq.com/trading/authorized-participants/td-securities-usa/","sameAs":["https://www.tdsecurities.com/us/en/our-offices"],"leiCode":"SUVUFHICNZMP2WKHG940","identifier":[{"@type":"PropertyValue","propertyID":"FINRA CRD","value":"18476"},{"@type":"PropertyValue","propertyID":"SEC file number","value":"8-36747"}],"description":"The US broker-dealer of TD Securities, the investment banking and capital markets arm of Toronto-Dominion Bank."},{"@type":"ItemList","name":"ETFs TD Securities (USA) LLC serves as an authorized participant","numberOfItems":20,"itemListOrder":"https://schema.org/ItemListOrderDescending","itemListElement":[{"@type":"ListItem","position":1,"name":"XMMO","url":"https://etfiq.com/funds/xmmo"},{"@type":"ListItem","position":2,"name":"XMVM","url":"https://etfiq.com/funds/xmvm"},{"@type":"ListItem","position":3,"name":"GRPM","url":"https://etfiq.com/funds/grpm"},{"@type":"ListItem","position":4,"name":"NULG","url":"https://etfiq.com/funds/nulg"},{"@type":"ListItem","position":5,"name":"CZA","url":"https://etfiq.com/funds/cza"},{"@type":"ListItem","position":6,"name":"SQQQ","url":"https://etfiq.com/funds/sqqq"},{"@type":"ListItem","position":7,"name":"UPGD","url":"https://etfiq.com/funds/upgd"},{"@type":"ListItem","position":8,"name":"AAPB","url":"https://etfiq.com/funds/aapb"},{"@type":"ListItem","position":9,"name":"TSLL","url":"https://etfiq.com/funds/tsll"},{"@type":"ListItem","position":10,"name":"NVDU","url":"https://etfiq.com/funds/nvdu"},{"@type":"ListItem","position":11,"name":"AMZZ","url":"https://etfiq.com/funds/amzz"},{"@type":"ListItem","position":12,"name":"AMZU","url":"https://etfiq.com/funds/amzu"},{"@type":"ListItem","position":13,"name":"GGLL","url":"https://etfiq.com/funds/ggll"},{"@type":"ListItem","position":14,"name":"PPA","url":"https://etfiq.com/funds/ppa"},{"@type":"ListItem","position":15,"name":"MSFU","url":"https://etfiq.com/funds/msfu"},{"@type":"ListItem","position":16,"name":"BRKU","url":"https://etfiq.com/funds/brku"},{"@type":"ListItem","position":17,"name":"TQQQ","url":"https://etfiq.com/funds/tqqq"},{"@type":"ListItem","position":18,"name":"AVL","url":"https://etfiq.com/funds/avl"},{"@type":"ListItem","position":19,"name":"FTSL","url":"https://etfiq.com/funds/ftsl"},{"@type":"ListItem","position":20,"name":"NVDL","url":"https://etfiq.com/funds/nvdl"}]},{"@type":"DefinedTerm","name":"authorized participant","alternateName":["AP","authorised participant"],"description":"A broker-dealer that has an agreement with an ETF to create new shares by delivering a basket of securities or cash to the fund, and to redeem shares by handing them back.","inDefinedTermSet":"https://etfiq.com/methodology/authorized-participants#glossary"},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Is TD Securities (USA) an ETF authorized participant (AP)?","acceptedAnswer":{"@type":"Answer","text":"Yes. TD Securities (USA) LLC is listed as an AP for 880 US ETFs in Form N-CEN periods ending Jul 31, 2025 to Jun 30, 2026, and created or redeemed shares in 20 of them."}},{"@type":"Question","name":"Which ETFs does TD Securities (USA) create and redeem the most?","acceptedAnswer":{"@type":"Answer","text":"By dollars created and redeemed: XMMO, $459m; XMVM, $219m; GRPM, $170m; NULG, $129m; CZA, $80.4m."}},{"@type":"Question","name":"How much of an ETF\u2019s AP activity does TD Securities (USA) handle?","acceptedAnswer":{"@type":"Answer","text":"Across the 20 funds it was active in, its share of each fund\u2019s AP dollars ran from 0.0% to 77.9%. It was the only active AP in 0 ETFs."}},{"@type":"Question","name":"Where do these figures come from?","acceptedAnswer":{"@type":"Answer","text":"From item E.2 of each ETF\u2019s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by TD Securities (USA)\u2019s CRD, SEC file number and LEI, never by the name as typed."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Authorized participants","item":"https://etfiq.com/trading/authorized-participants/"},{"@type":"ListItem","position":3,"name":"TD Securities (USA)","item":"https://etfiq.com/trading/authorized-participants/td-securities-usa/"}]},{"@type":"WebPage","name":"TD Securities (USA): ETF Authorized Participant (AP)","description":"TD Securities (USA) LLC was an authorized participant (AP) for 880 US ETFs in Form N-CEN periods ending Jul 31, 2025 to Jun 30, 2026. Facts only.","url":"https://etfiq.com/trading/authorized-participants/td-securities-usa/","dateModified":"2026-09-23","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":6912,"truncated":false,"content":"ETFIQ / Authorized participants / TD Securities (USA) \n \n As of Sep 23, 2026 . From each ETF\u2019s latest Form N-CEN.\n TD Securities (USA) LLC\n TD Securities (USA) LLC was an authorized participant (AP) for 880 US ETFs in Form N-CEN periods ending Jul 31, 2025 to Jun 30, 2026. It created $765m and redeemed $633m of their shares. It was active in 20 of them.\n tdsecurities.com \n TD Securities (USA) LLC as an ETF authorized participant: all 20 funds it created or redeemed in, ranked by what it created and redeemed, in Form N-CEN periods ending Jul 31, 2025 to Jun 30, 2026. Source: ETFIQ from Form N-CEN. # Ticker Fund Category Created Redeemed Created and redeemed Share of the fund\u2019s AP dollars Active APs in the fund Period ending \n 1 XMMO Invesco S&P MidCap Momentum ETF U.S. stocks $227m $233m $459m 8.3% 13 Apr 30, 2026 \n 2 XMVM Invesco S&P MidCap Value with Momentum ETF U.S. stocks $109m $110m $219m 47.4% 9 Apr 30, 2026 \n 3 GRPM Invesco S&P MidCap 400 GARP ETF U.S. stocks $84.2m $85.3m $170m 42.1% 6 Apr 30, 2026 \n 4 NULG Nuveen ESG Large-Cap Growth ETF U.S. stocks $129m $0 $129m 8.4% 6 Oct 31, 2025 \n 5 CZA Invesco Zacks Mid-Cap ETF U.S. stocks $39.9m $40.6m $80.4m 77.9% 6 Apr 30, 2026 \n 6 SQQQ ProShares UltraPro Short QQQ Leverage $65.7m $0 $65.7m 0.2% 9 May 31, 2026 \n 7 UPGD Invesco Bloomberg Analyst Rating Improvers ETF U.S. stocks $26.2m $26.5m $52.7m 73.8% 5 Apr 30, 2026 \n 8 AAPB GraniteShares 2x Long AAPL Daily ETF Leverage $24.0m $24.0m $48.1m 14.6% 8 Jun 30, 2026 \n 9 TSLL Direxion Daily TSLA Bull 2X ETF Leverage $7.2m $29.2m $36.4m 0.2% 11 Oct 31, 2025 \n 10 NVDU Direxion Daily NVDA Bull 2X ETF Leverage $3.7m $24.8m $28.6m 0.9% 7 Oct 31, 2025 \n 11 AMZZ GraniteShares 2x Long AMZN Daily ETF Leverage $13.3m $13.3m $26.5m 5.5% 8 Jun 30, 2026 \n 12 AMZU Direxion Daily AMZN Bull 2X ETF Leverage $0 $20.8m $20.8m 2.0% 9 Oct 31, 2025 \n 13 GGLL Direxion Daily GOOGL Bull 2X ETF Leverage $12.9m $7.5m $20.4m 1.6% 7 Oct 31, 2025 \n 14 PPA Invesco Aerospace & Defense ETF Themes $15.1m $0 $15.1m 0.5% 12 Apr 30, 2026 \n 15 MSFU Direxion Daily MSFT Bull 2X ETF Leverage $0 $8.4m $8.4m 1.6% 6 Oct 31, 2025 \n 16 BRKU Direxion Daily BRKB Bull 2X ETF Leverage $0 $5.4m $5.4m 3.5% 8 Oct 31, 2025 \n 17 TQQQ ProShares UltraPro QQQ Leverage $4.6m $0 $4.6m 0.0% 10 May 31, 2026 \n 18 AVL Direxion Daily AVGO Bull 2X ETF Leverage $0 $4.5m $4.5m 1.3% 7 Oct 31, 2025 \n 19 FTSL First Trust Senior Loan Fund Bonds $2.3m $0 $2.3m 0.5% 9 Oct 31, 2025 \n 20 NVDL GraniteShares 2x Long NVDA Daily ETF Leverage $864k $854k $1.7m 0.0% 12 Jun 30, 2026 \n \n TD Securities (USA) by category\n The ETFs TD Securities (USA) LLC serves, by the category each is placed in, with what it created and redeemed in each.\n TD Securities (USA) by category, as of Sep 23, 2026. Source: ETFIQ from Form N-CEN. # Category Share of its dollars ETFs served Active in Created Redeemed Only active AP in \n 1 U.S. stocks 79.4% 204 6 $616m $495m 0 \n 2 International stocks 0.0% 118 0 $0 $0 0 \n 3 Sector stocks 0.0% 47 0 $0 $0 0 \n 4 Bonds 0.2% 113 1 $2.3m $0 0 \n 5 Commodities 0.0% 5 0 $0 $0 0 \n 6 Allocation 0.0% 3 0 $0 $0 0 \n 7 Buffer 0.0% 98 0 $0 $0 0 \n 8 Income 0.0% 47 0 $0 $0 0 \n 9 Themes 1.1% 105 1 $15.1m $0 0 \n 10 Leverage 19.4% 119 12 $132m $139m 0 \n 11 Crypto 0.0% 2 0 $0 $0 0 \n 12 Alternatives 0.0% 19 0 $0 $0 0 \n \n Questions people ask\n Is TD Securities (USA) an ETF authorized participant (AP)? Yes. TD Securities (USA) LLC is listed as an AP for 880 US ETFs in Form N-CEN periods ending Jul 31, 2025 to Jun 30, 2026, and created or redeemed shares in 20 of them. Which ETFs does TD Securities (USA) create and redeem the most? By dollars created and redeemed: XMMO, $459m; XMVM, $219m; GRPM, $170m; NULG, $129m; CZA, $80.4m. How much of an ETF\u2019s AP activity does TD Securities (USA) handle? Across the 20 funds it was active in, its share of each fund\u2019s AP dollars ran from 0.0% to 77.9%. It was the only active AP in 0 ETFs. Where do these figures come from? From item E.2 of each ETF\u2019s latest Form N-CEN, which names its APs and the dollars each created and redeemed. ETFIQ groups the rows by TD Securities (USA)\u2019s CRD, SEC file number and LEI, never by the name as typed. Method\n TD Securities (USA) LLC is identified by CRD 18476, SEC file number 8-36747, LEI SUVUFHICNZMP2WKHG940. It is on the SEC\u2019s list of active broker-dealers dated Oct 1, 2026 as TD SECURITIES (USA) LLC. Funds filed its name 3 ways; every spelling is in dealers.json. Every row is one authorized participant (AP) listed in item E.2 of an ETF\u2019s latest Form N-CEN, with the dollars of the fund\u2019s shares it purchased from the fund (created) and redeemed in the fund\u2019s reporting period, as filed. A fund\u2019s period is its own fiscal year, or less where the filing says so, so a firm\u2019s total adds periods that end on different days. Rows are grouped into firms by the identifiers each row carries: the CRD number first, the SEC file number and LEI where the CRD is missing or typed wrong, never by name. 71 of 75,056 rows carry a CRD their file number and LEI place on another firm, and are counted there. A firm\u2019s name is its registration on the SEC\u2019s list of active broker-dealers where it is on it. Spot crypto and commodity trusts and ETNs file no N-CEN and are not here.\n Where to next\n Most active APs for U.S. stock ETFs Most active APs for international stock ETFs Most active APs for sector stock ETFs Every ETF authorized participant (AP) The most active APs Most active APs for U.S. stock ETFs Most active APs for international stock ETFs Most active APs for sector stock ETFs Most active APs for bond ETFs ETF lead market makers (LMMs) How the AP list is built The open data file Fund flows Where these figures came from\n SEC Form N-CEN data sets, the source of every AP row Form N-CEN, item E.2: each authorized participant and its dollars SEC list of active broker-dealers, the source of each firm\u2019s registered name ETFIQ links to the documents behind every figure; a link is not an endorsement.\n A list of firms is not a rating or a recommendation. ETFIQ is an independent publisher, not an adviser. Standards and sources \n Cite this page. ETFIQ, TD Securities (USA) LLC as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/td-securities-usa/ Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain ETFIQ, TD Securities (USA) LLC as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/td-securities-usa/ APA ETFIQ. (Sep 23, 2026). TD Securities (USA) LLC as an ETF authorized participant. Retrieved from https://etfiq.com/trading/authorized-participants/td-securities-usa/ Markdown [TD Securities (USA) LLC as an ETF authorized participant (ETFIQ, Sep 23, 2026)](https://etfiq.com/trading/authorized-participants/td-securities-usa/)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, TD Securities (USA) LLC as an ETF authorized participant, data as of Sep 23, 2026. https://etfiq.com/trading/authorized-participants/td-securities-usa/"}