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Sosnoff, who spent 10 years as an options-market maker at the Chicago Mercantile Exchange, created Thinkorswim in 1999 and sold it this year to TD Ameritrade for more than $600 million.
The combined company was renamed TD Ameritrade, and TD Bank Group was given a 39% stake in the company. As part of the deal, Ameritrade sold its Canadian operations to TD Bank who merged them with TD Waterhouse Canada. [5] In January 2009, TD Ameritrade acquired thinkorswim in a cash and stock deal valued around $606 million.
Thinkorswim, Inc. was founded in 1999 by Tom Sosnoff and Scott Sheridan as an online brokerage specializing in options. [2] It was funded by Technology Crossover Ventures. [3] In February 2007, Investools acquired Thinkorswim. [4] In January 2009, it was acquired by TD Ameritrade in a cash and stock deal valued around $606 million.
TD Waterhouse Canada Inc. is a Canadian financial services corporation headquartered in Toronto, Ontario. It is a wholly owned subsidiary of Toronto-Dominion Bank . The company does business through several divisions, namely TD Direct Investing , TD Wealth Financial Planning , and TD Wealth Private Investment Advice . [ 1 ]
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The haircut values of securities are used to compute the liquidation value of a broker-dealer's assets to determine whether the broker-dealer holds enough liquid assets to pay all its non-subordinated liabilities and to still retain a "cushion" of required liquid assets (i.e., the "net capital" requirement) to ensure payment of all obligations ...
TD Securities faces competition from full-service global investment banks such as Goldman Sachs, Morgan Stanley and the Royal Bank of Canada, equivalent branches of other financial conglomerates such as BMO Capital Markets and CIBC World Markets, and other independent investment banks and large cap advisory firms.