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Td ameritrade

The meaning of «td ameritrade»

TD Ameritrade is a broker that offers an electronic trading platform for the trade of financial assets including common stocks, preferred stocks, futures contracts, exchange-traded funds, forex, options, cryptocurrency, mutual funds, fixed income investments, margin lending, and cash management services.[3] The company receives revenue from interest income on margin balances, commissions for order execution, and payment for order flow. The company is a subsidiary of Charles Schwab Corporation and its services and accounts will be integrated with those of Schwab by 2023. Its operations are in the process of being moved to Schwab's headquarters in Westlake, Texas.

The company was founded as Ameritrade in 1971. In 2006, it acquired the U.S. operations of TD Waterhouse from Toronto-Dominion Bank and was renamed TD Ameritrade. It was acquired by Charles Schwab Corporation in 2020.

In 1975, the Securities and Exchange Commission banned the practice of fixed brokerage commissions and Joe Ricketts and three partners opened First Omaha Securities, Inc. in Omaha, Nebraska.[4]

In 1983, Ameritrade Clearing Inc. was established as a central counterparty clearing broker.[4]

In 1988, the company introduced the first quote and order entry system via the push-button telephone.[4]

In 1995, the company acquired K. Aufhauser & Company, Inc., the first firm to offer an electronic trading platform.[4]

In January 1996, TransTerra's Accutrade launched "Accutrade for Windows", an electronic trading platform.[5][6]

In September 1996, the company merged with TransTerra.[7]

In March 1997, the company became a public company via an initial public offering.[8]

In February 2001, the company acquired TradeCast, which had approximately 60 broker-dealer, hedge fund and money management customers, for $67.3 million.[9][10]

In July 2001, the company acquired National Discount Brokers for $154 million, adding $6.3 billion in client assets.[11][12]

In September 2002, the company acquired Datek.[13][14]

In June 2003, the company acquired MyDiscountBroker.com.[15]

In 2004, the company acquired Bidwell in January,[16] BrokerageAmerica in February,[17] and JB Oxford and Company in October.[18]

In January 2006, the company acquired the United States brokerage business branded as TD Waterhouse from Toronto-Dominion Bank. The newly combined company was renamed TD Ameritrade, with the Toronto-Dominion Bank owning 40%.[19][20]

In February 2008, the company acquired accounts from Fiserv.[21]

In May 2008, CEO Joe Moglia announced he would be vacating the CEO position and would become Chairman. He was succeeded as CEO by COO Fredric Tomczyk, who was formerly Vice Chair of Corporate Operations at Toronto-Dominion Bank.[22][23]

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