User:Influencenyc/thinkorswim
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| Company type | Public ({{nasdaq}}|SWIM |
|---|---|
| Industry | Brokerages, Financial Services, Online Brokerage Services, Investor education, Institutional Trading |
| Founded | Education division (Investools) in 1983 as Telescan, Inc. Brokerage division, thinkorswim in 1999 |
| Headquarters | New York, NY, USA |
Key people | Lee Barba, CEO Tom Sosnoff, President, Brokerage Division, thinkorswim, Inc. |
| Products | Investor Education and Online Brokerage |
| Revenue |  For the fiscal year ended December 31, 2007, the Company reported revenue of $318.0 millionUSD (2007) |
| Website | http://www.thinkorswim.com |
thinkorswim Group Inc. is a financial services firm comprised of 'thinkorswim,' an online brokerage segment and an investor education division under the name ‘Investools.’ Combined, thinkorswim and Investools provide information, education and tools for self-directed option traders. retail and institutional users who invest in equities, fixed income, exchange-traded funds, futures, derivatives, currency traded on the Foreign exchange market (FX or forex), and mutual funds.
thinkorswim provides sophisticated trading tools and analytics, including tools for implementing complex, multi-leg options strategies. The products and services offered by thinkorswim have received numerous accolades from third parties including the highest rated software-based online broker and "best for options traders" in Barron's ranking of online brokers, 3/6/2006[1] and 3/5/2007[2] and second-overall in 2008[3]. The company's brokerage division’s retail DARTs (Daily Average Revenue Trades) reached 56,800 in June, 2008, 143% higher than June, 2007. Client assets rose to $3.11 billion in June, 2008, 75% higher than June, 2007.[4]
The education business offers a full range of investor education products and services that provide lifelong learning in a variety of interactive delivery formats including instructor-led synchronous and asynchronous online courses, in-person workshops, one-on-one and one-to-many online coaching programs and telephone, live-chat and email support. Graduates can then apply what they've learned by trading with thinkorswim's online brokerage platforms.
Subsidiaries
[edit]• thinkorswim, Inc., a FINRA member broker-dealer.
• thinkorswim Canada, Inc., an IDA Canadian member broker-dealer.
• thinkorswim Advisors, Inc., a Registered Investment Advisor managing funds and providing investment services for insitutional and high net worth clients since 1995. This division offers redoption.com, a low cost option trading subscription service. The division also provides trading classes on how to use the thinkorswim platform through optionplanet.com.
History
[edit]1997: Founding
[edit]Telescan, a provider of stock charting and screening tools, is created by Dr. Richard Carlin.
1999: Mergers
[edit]The current Investools was formed by the merger of Telescan, Inc. of Houston, Texas, and Online Investor's Advantage of Provo, Utah.
2005: Prophet Purchase
[edit]In January, Investools purchased Prophet Financial Systems, Inc. and embarked on a re-architecture of the Investor Toolbox. Prophet's founder, Tim Knight, was made the SVP of Technology.
2006: Stock Listing
[edit]In May, Investools common stock was listed on NASDAQ and added to the Russell 3000, Russell 2000 and Microcap indexes on June 30.
In September, Investools announced a merger with thinkorswim, Inc., an online brokerage specializing in options that was founded in 1999.
2007: New Ticker Symbol
[edit]In February, the company completed the merger with thinkorswim and its ticker symbol was changed to SWIM.
In December, the company expanded operations into Canada[5]
2008: thinkorswim Group Inc. Established
[edit]In February, the company acquired mytrade.com[6]
In June, the company changed its name to thinkorswim Group. Inc.[7]
External links
[edit]References
[edit]- ^ Barron's “Different Strokes For...” – Web Reprint 2006
- ^ Barron's “Tools of the Trade” – Web Reprint 2007
- ^ Barron's “Making It Click” – Web Reprint 2008
- ^ Reuters - thinkorswim Reports Operating Metrics for June 2008
- ^ Company press release - thinkorswim Establishes Operations in Canada
- ^ Company press release - thinkorswim Acquires mytrade.com
- ^ Company press release - thinkorswim Group Inc. Name Change Effective Today