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Charles Schwab to adopt thinkorswim trading platforms as part of TD Ameritrade integration


The Charles Schwab Corporation (Schwab) is to integrate the thinkorswim and thinkpipes trading platforms, education and tools into its trader offerings for retail and independent adviser clients following its acquisition of TD Ameritrade.“Our plan to adopt the thinkorswim suite of products and educational resources reflects its status as one of the strongest retail active trader platforms in the industry,” says Barry Metzger, Senior Vice President of Trading Services at Charles Schwab. “For users of Schwab’s StreetSmart Edge platforms, there is no change. As we look ahead, we intend to thoughtfully combine the great capabilities, tools and service at both firms to provide a unified, world-class trading experience for clients.”

For advisors, the thinkpipes platform offers a multitude of features, including real-time charting and efficient trading and allocation, which have made it a market leader. “The combination of our respective trading teams’ experience and capabilities with the advanced trading technology of thinkpipes will create an even more compelling offer for advisors when integration is complete,” says Bernie Clark, Executive Vice President and Head of Schwab Advisor Services. 

Schwab also plans to retain TD Ameritrade Institutional’s customisable portfolio rebalancing solution iRebal as part of its offering for independent adviser clients. Additional technology solutions continue to be evaluated for consideration as part of the combined platform.

While the company has said that adopting Schwab platforms and systems generally will be the most effective way to achieve a successful and timely integration, Executive Vice President of Schwab’s Integration Management Office Jason Clague, says: “We are committed to leveraging material advantages in TD Ameritrade’s platforms when doing so enables us to deliver a differentiated experience to all of our clients. That commitment drove these decisions.

“These decisions demonstrate Schwab’s dedication to continually innovating and enhancing the experience for our clients,” added Clague. “We will keep clients informed as plans take shape and the integration process unfolds in the months ahead.”

Integration is expected to take between 18 to 36 months to complete following the close.

On 4 June, Schwab announced that the Antitrust Division of the United States Department of Justice (DOJ) informed Schwab that the DOJ closed its investigation of Schwab’s proposed acquisition of TD Ameritrade. Schwab stockholders approved the acquisition later that day during a special meeting of stockholders. Completion of the transaction remains subject to the satisfaction (or, to the extent permitted by applicable law, waiver) of the customary closing conditions set forth in the merger agreement, including receipt of other regulatory approvals. Subject to the satisfaction of those conditions, the parties continue to expect that the transaction will close in the second half of the year.

Once the deal closes, where and how clients of the two firms access their accounts, their pricing, and who they contact for service or advice will remain unchanged until the account conversion process begins.

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