Td ameritrade closes when openin quotes update#

'We will be able to share more detail as we have it following the close of the deal,' said Rob Farmer, spokesperson for Schwab. “The marketplace will be kept informed as plans take shape and the integration process unfolds.” “At this time, there are no further platform decisions to announce,” said Joe Giannone, TD Ameritrade spokesperson, when asked what will happen to Veo One. Related: Shareholders, DOJ Clear the Way for Schwab/TD Ameritrade Mergerįor advisors wondering what’s ahead, the two firms’ competing visions for open-architecture technology platforms remains uncertain.

Td ameritrade closes when openin quotes update#

Schwab is the acquirer, however, and advisors have been told that “Schwab systems be the platforms of choice,” according to a February 2020 business update by Schwab COO Joe Martinetto. Schwab has already selected certain TD Ameritrade technology offerings for survival, including thinkorswim, thinkpipes and iRebal, and has publicly committed to bringing those tools into the combined firm. The $26 billion intended acquisition, an all-stock transaction now valued at $22 billion, was first announced in November 2019 with shareholders and regulators clearing the deal to proceed in June 2020. That has since grown to approximately $6 trillion across 28 million brokerage accounts, according to Schwab, providing scale as free trades erode commission revenue that brokerages once relied upon.

When the two financial services firms first announced the deal their combined assets tallied roughly $5 trillion.

Charles Schwab officially closes its acquisition of TD Ameritrade on Tuesday, and now embarks on a process of integration that could last three years.