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thinkorswim Group Inc.
Company typePublic ({{nasdaq}}|SWIM
IndustryBrokerages, Financial Services, Online Brokerage Services, Investor education, Institutional Trading
FoundedEducation division (Investools) in 1983 as Telescan, Inc. Brokerage division, thinkorswim in 1999
HeadquartersNew York, NY, USA
Key people
Lee Barba, CEO
Tom Sosnoff, President, Brokerage Division, thinkorswim, Inc.
ProductsInvestor Education and Online Brokerage
RevenueIncrease For the fiscal year ended December 31, 2007, the Company reported revenue of $318.0 millionUSD (2007)
Websitehttp://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

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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

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1997: Founding

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Telescan, a provider of stock charting and screening tools, is created by Dr. Richard Carlin.

1999: Mergers

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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

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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

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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

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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

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In February, the company acquired mytrade.com[6]

In June, the company changed its name to thinkorswim Group. Inc.[7]

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References

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