In what is sure to be a long string of much anticipated decisions, Charles Schwab Corp. announced it will be retaining TD Ameritrade's thinkorswim and thinkpipes trading platforms.
The firm said the thinkorswim and thinkpipes trading platforms, as well as the educational offerings and tools accompanying them, will be integrated into Schwab’s existing trading offerings for retail and independent advisor clients as the firm completes its acquisition of TD Ameritrade. The integration is expected to take between 18 and 36 months to complete following the close of Schwab’s acquisition.
This would mean no change for existing users of Schwab’s StreetSmart Edge platforms, according to Schwab’s head of trading services; rather the move represented the first step in combining the best and most advanced capabilities of both platforms.
Jason Clague, head of integration management at Schwab, reiterated a point made by head of Schwab Advisor Services Bernie Clark months before in a visit to WealthManagement.com, that the firm remains committed to leveraging the material advantages in TD Ameritrade’s platforms in deciding what to keep and what would be deemed redundant.
TD Ameritrade itself acquired the Chicago-based Thinkorswim Group, specifically for its more advanced options trading technology, in 2009 for $600 million.