TORONTO, Jan. 8 /CNW/ - Scotia Capital has been named 'Best Foreign
Exchange Bank' in Canada by Global Finance magazine for the fourth year
running. The annual award recognizes the best Foreign Exchange banks and
providers in 82 countries and regions around the world.
    "Receiving this award for the fourth year in a row is a testament to our
commitment to client service," said Barry Wainstein, Vice-Chairman and Global
Head of Foreign Exchange & Precious Metals, Scotia Capital. "We are honoured
to receive this award because it is recognition of the depth and breadth of
our knowledge and experience."
    With input from industry analysts, corporate executives and technology
experts, Global Finance selected winners on the basis of multiple criteria
including: transaction volume, market share, scope of global coverage,
customer service, competitive pricing and innovative technologies.
    "Scotia Capital's extensive product line, superb customer service and
expanding global network make it the bank of choice for foreign exchange
services for Canadian corporations and international investors and traders,"
says Joseph D. Giarraputo, publisher and president of Global Finance. "The
bank's insightful foreign exchange research, strategy and advice are
invaluable. Its NAFTA-wide platform and recent acquisitions by Scotiabank in
Latin America and Asia display its international prowess," Giarraputo says.
    Commitment to the foreign exchange business, evidenced by number and size
of trading desks and investment in technology, as well as product range and
liquidity were important considerations. Global Finance also considered: skill
in structuring transactions, advice on market positioning and hedging, and
efficient execution of trades, including forwards, futures, swaps and options.
Financial soundness, profitability and the ability to handle large
transactions without moving the market were also taken into account.

    As part of Scotiabank Group, Scotia Capital offers corporate and
investment banking, and capital markets products to corporate, government and
institutional clients. It provides full-service coverage across the NAFTA
region, as well as a niche focus in select markets globally. Scotia Capital
has 18 offices and more than 300 relationship managers organized around
industry specialties.