Thinkorswim Group Inc.
| Thinkorswim Group Inc. | |
| |
| Founded | 1999 |
|---|---|
| Headquarters | Chicago |
| Key People | Joel Blom, CEO; Kristine Ross, CFO; Tom Sosnoff, founder; Scott Sheridan, founder |
| Products | Options brokerage |
| Website | http://www.thinkorswim.com/ |
Thinkorswim Group Inc. was a Chicago-based options brokerage firm. It held roughly $2.6 billion in client assets.[1]
TD Ameritrade Holding Corp. (AMTD.O) bought Thinkorswim Group Inc. (SWIM.O) in 2009 for $606 million in order to establish an options and futures trading arm. [2]
The stock and cash deal gave shareholders of thinkorswim 0.3980 of a TD Ameritrade share plus $3.34 in cash for each of their shares. TD Ameritrade management said on a conference call that it expected the deal to boost fiscal 2010 earnings by 3 percent to 7 percent, and by 10 percent to 15 percent after thinkorswim was fully integrated. The deal was expected to yield $55 million in cost savings. [3][4]
History[edit]
In February 2007, Investools merged with thinkorswim, and in June 2008, the group adopted the name of its brokerage subsidiary, thinkorswim, for its corporate identity, changing the listed holding company's name from Investools, Inc. to Thinkorswim Group Inc.[5]
Products and Services[edit]
Key People[edit]
The key people at Thinkorswim included:
- Joel Blom, CEO
- Tom Sosnoff, Co-Founder
- Don Roberts, Managing Director
- Scott Sheridan, Founder
- Kristine Ross, CFO
References[edit]
- ↑ Trading Spaces. Trader Daily.
- ↑ Thinkorswim to be acquired by TD Ameritrade. Chicago Tribune.
- ↑ TD Ameritrade To Buy thinkorswim For $606 Mln. Reuters.
- ↑ Press Release. TD Ameritrade.
- ↑ INVESTools Announces Merger with thinkorswim. Updata Advisors.