Scotia Capital has been named best foreign exchange bank in Canada by the international financial magazine Global Finance.

The awards will be announced in the January 2005 issue.

“We are extremely honoured and delighted to be named Best Foreign Exchange Bank in Canada,” said Barry Wainstein, managing director and global head of foreign exchange, Scotia Capital. “This award recognizes the talented team at Scotia Capital and our commitment to deliver the most comprehensive transaction expertise, up-to-the-minute currency research and innovative ideas to our clients.”

Global Finance editors — with input from industry analysts, corporate executives and technology experts — selected the best currency trading providers in 70 countries and regions. Criteria for choosing winners included transaction volume, market share, scope of global coverage, customer service, competitive pricing and innovative technologies.

“The global foreign exchange market, the world’s largest, continues to evolve in response to economic, political and technological forces, as well as to changes within the banking industry itself,” said Joseph Giarraputo, publisher, Global Finance. “We have identified Scotia Capital as the preeminent bank in Canada that large Canadian companies can rely on for their foreign exchange needs.”