Is thinkorswim changing clearing to tdwaterhouse,self clearing?

Discussion in 'Retail Brokers' started by mahram, Jul 13, 2009.

  1. I was wondering if tdwaterhouse is switching tos to their own clearing firm? Td has an ok clearning service, but tos has a really good one. The tos customer service rep doesnt know yet, but for people who had this kind of situation where one broker bought out another, how are customers treated?
  2. MTE


    Thinkorswim currently clears with Penson. My guess is that sooner or later they are gonna switch to TD. It just doesn't make business sense for TD to forgo the clearing business of thinkorswim customers.
  3. I think they're switching over in 2010 i heard.
  4. I might have to switch when they do. Shorting under TD Ameritrade's clearinghouse is a royal pain. Penson for whatever reason reports easy to borrow on far more stocks than does TD, and even if one is hard to borrow, it doesn't stay that way for long. Under TD, you can go a solid week with a highly liquid stock or ETF being reported as hard to borrow. It's pretty much impossible to execute a consistent strategy under a clearinghouse that lame.
  5. it won't happen until td-amer is approved for portfolio margin.