thinkorswim
{{Short description|Electronic trading platform}}
{{Use mdy dates|date=July 2022}}
{{Infobox software
| name = Thinkorswim
| logo = ThinkorSwim-Logo.png
| genre = Electronic trading platform
| language = English
| website = {{URL|https://trade.thinkorswim.com/}}
}}
Thinkorswim is an electronic trading platform owned by Charles Schwab Corporation used to trade financial assets. It is geared for self-directed stock, options and futures traders.
History
Thinkorswim, Inc. was founded in 1999 by Tom Sosnoff and Scott Sheridan as an online brokerage specializing in options.{{Cite news | url=https://www.chicagotribune.com/business/blue-sky/ct-tastyworks-dough-online-broker-bsi-20170106-story.html | title=Thinkorswim founders bring new online brokerage | work=Chicago Tribune | date=January 6, 2017 | url-access=subscription}} It was funded by Technology Crossover Ventures.{{Cite web | url=https://www.tcv.com/companies/thinkorswim/ | title=Technology Crossover Ventures: thinkorswim | publisher=Technology Crossover Ventures}} In February 2007, Investools acquired Thinkorswim.{{cite press release | url=https://www.marketscreener.com/quote/stock/INVESTOOLS-17130/news/Investools-Inc-Investools-Inc-Completes-Merger-with-thinkorswim-Group-Inc-Announces-Upcoming-Ti-296326/ | title=Investools Inc. Completes Merger with thinkorswim Group Inc., Announces Upcoming Ticker Symbol Change to 'SWIM' | publisher=marketscreener.com | date=February 15, 2007}}
In January 2009, it was acquired by TD Ameritrade in a cash and stock deal valued around $606 million.{{Cite news |url=https://www.reuters.com/article/us-thinkorswim-tdameritrade-idUSTRE5073ID20090108 |title=TD Ameritrade buying thinkorswim for $606 million |work=Reuters |date=January 8, 2009}}{{cite news |url=https://www.bloomberg.com/news/articles/2009-01-08/td-ameritrade-buys-thinkorswim-to-expand-in-options |title=TD Ameritrade Buys Thinkorswim to Expand in Options | last=Ortega |first=Edgar | work=Bloomberg News |date=January 8, 2009 | url-access=subscription}}{{cite news | url=https://www.post-gazette.com/business/businessnews/2009/01/08/TD-Ameritrade-to-buy-thinkorswim-for-606-million/stories/200901080361 | title=TD Ameritrade to buy thinkorswim for $606 million | agency=Associated Press | publisher=Pittsburgh Post-Gazette | date=January 8, 2009}} The final sale amount was $749 million, with 250,000 thinkorswim accounts transferred.{{cite news |last1=Goff|first1=JOhn |date=10 January 2012 |title=thinkorswim integration not all going swimmingly, TD says |website=Investment News |url=https://www.investmentnews.com/rias/thinkorswim-integration-not-all-going-swimmingly-td-says/38232|access-date=13 April 2025}} At the time, thinkorswim led the industry in the number of retail option trades per day, with Lee Barbra serving as CEO.{{cite news |last1=|first1= |date=8 January 2009 |title=TD Ameritrade buying thinkorswim for $606 million |website=reuters |url=https://www.reuters.com/article/business/td-ameritrade-buying-thinkorswim-for-606-million-idUSTRE5073ID/|access-date=12 April 2025}} In 2018, with Thinkorswim, Ameritrade became the first US retail broker-dealer to launch 24/5 trading platforms, which it did through the thinkorswim platforms.{{cite news |last1=Lyudvig|first1=Anna |date=31 October 2024 |title=Schwab to Significantly Expand 24-Hour Trading Capabilities |website=Traders Magazine |url=https://www.tradersmagazine.com/xtra/schwab-to-significantly-expand-its-24-hour-trading-capabilities/|access-date=12 April 2025}} In early 2018, thinkorswim also expanded into Hong Kong.{{cite news |last1=|first1= |date=3 December 2018 |title=TD Ameritrade’s Trading App “thinkorswim” Provides Access to US Equities |website=South China Morning Press & TD Ameritrade|url=https://www.scmp.com/presented/business/topics/unleash-your-trading-potential/article/2175742/td-ameritrades-trading-app|access-date=13 April 2025}}
In October 2020, Charles Schwab Corporation acquired TD Ameritrade and the thinkorswim platform became available for Charles Schwab customers.{{Cite news | url=https://www.wsj.com/livecoverage/stock-market-today-dow-jones-10-16-2023/card/schwab-gives-traders-access-to-td-ameritrade-s-thinkorswim-platform-htVxzqaROLlNELVj3D6i | title=Schwab Gives Traders Access to TD Ameritrade's Thinkorswim Platform | first=Hannah | last=Miao | work=The Wall Street Journal | date=October 16, 2023 | url-access=subscription}} Charles Schwab that month confirmed plans to integrate Thinkofswim into its own tools.{{cite news |last1=Krantz|first1=Matt |date=7 October 2020 |title=Is Thinkorswim Sunk Now That Schwab Owns TD Ameritrade? |website=Investor's Business Daily |url=https://www.investors.com/etfs-and-funds/personal-finance/thinkorswim-sunk-now-that-schwab-owns-td-ameritrade/|access-date=10 April 2025}}
In 2023, Charles Schwab customers were given access to thinkorswim. In 2025, the thinkorswim platform added 24/5 trading on S&P 500 and Nasdaq-100 stocks, after testing the feature as a pilot in November 2024.{{cite news |last1=Sidhika|first1=Anika |date=13 February 2025|title=Charles Schwab expands 24/5 trading to all clients |website=PrivateBankerInternational |url=https://www.privatebankerinternational.com/news/charles-schwab-expands-24-5-trading-to-all-clients/?cf-view|access-date=12 April 2025}}
Features
References
{{Reflist}}
External links
- {{Official website}}
- [https://www.sec.gov/litigation/litreleases/2009/lr21331.htm S.E.C. Litigation Release No. 21331 Re: Investools]
{{Online brokerages}}
Category:2006 initial public offerings
Category:2009 mergers and acquisitions
Category:American companies established in 1999
Category:Companies formerly listed on the Nasdaq
Category:Electronic trading platforms
Category:Financial derivative trading companies