TD Ameritrade Introduces 24-Hour Access to the US Equity Markets
January 22 2018 - 8:00AM
Business Wire
TD Ameritrade is the first U.S. retail broker
dealer to let investors trade select securities 24 hours a day, 5
days a week
TD Ameritrade1 is the first U.S. retail broker dealer to enable
investors to access equity markets all night long – filling a gap
between research and action, and enabling the Company’s growing
Asia-based client segment to trade the U.S. markets during their
daytime. With this initial launch, qualified TD Ameritrade clients
can buy or sell select ETFs from 8 p.m. ET Sunday to 8 p.m. ET
Friday.
“This is a monumental first for our industry and retail
investors,” said Steve Quirk, executive vice president of Trading
and Education for TD Ameritrade. “People have busy lives; they want
access to their finances anywhere, anytime, and on any device.
Online trading made the markets available to anyone, mobile trading
made the markets available from anywhere, and now 24-hour trading
will make the markets available anytime. We’re focused on
innovation that creates more value for investors and ultimately
makes their lives – and our industry – better.”
The current market schedule leaves a gap between decision making
and action. Nearly 70 percent of clients who use TD Ameritrade’s
research and education resources do so outside of regular trading
hours. Clients performing their research after market hours
currently have to wait until the next day to transact based on
their research findings. Asia-based investors interested in the
U.S. markets must invest during U.S. daytime hours, not their
own.
“Market-moving news frequently breaks overnight,” said Quirk.
“During events like Brexit or the U.S. election, futures were the
only product available to investors looking to reposition their
portfolios as the markets moved after hours. Investors today expect
the same on-demand access and convenience they’re used to with
other online services. Technology has enabled many other
industries, like retail for example, to allow people do their
consumer research and act on it at the same time. We want to bring
investing into the same realm.”
TD Ameritrade’s initial 24/5 trading offering includes 12
widely-held U.S.-listed ETFs including: FXI, SPY, EEM, GLD, SLV,
DIA, UNG, TLT, IWM, QQQ, USO and SH. Trades must be placed as limit
orders, allowing investors to buy or sell only at the price they
specify. These securities were selected to provide access to a wide
range of sectors. The Company intends to add other securities to
the list over time.
Extended Hours Overnight (EXTO) orders are up to 24-hour
continuous orders that expire at 8 p.m. ET every day. For example,
an EXTO order placed at 2 a.m. ET Monday morning would be active
immediately and remain active until 8 p.m. ET Monday night. A trade
placed at 9 p.m. ET Monday night would be active immediately and
remain active until 8 p.m. ET Tuesday night.
Eligible clients can access overnight trading via the
thinkorswim platform and the TD Ameritrade Mobile Trader app by
selecting EXTO in the order dropdown. Symbols available for EXTO
are designated “EXTO Eligible” on the platform. To participate,
clients should confirm their account is enabled for advanced
features, which can be done through the client services tab on
www.tdameritrade.com once logged in. A short step-by-step video is
available here: https://youtu.be/sNQAqzlkNpw.
Extended hours trading is subject to unique rules, restrictions
and risks, including lower liquidity and higher
volatility. Extended hours trading is not available on market
holidays.
About TD Ameritrade Holding Corporation
TD Ameritrade provides investing services and education to more
than 11 million client accounts totaling more than $1 trillion in
assets, and custodial services to more than 6,000 registered
investment advisors. We are a leader in U.S. retail trading,
executing more than 700,000 trades per day for our clients, nearly
a quarter of which come from mobile devices. We have a proud
history of innovation, dating back to our start in 1975, and today
our team of 10,000-strong is committed to carrying it forward.
Together, we are leveraging the latest in cutting edge technologies
and one-on-one client care to transform lives, and investing, for
the better. Learn more by visiting TD Ameritrade’s newsroom at
www.amtd.com, or read our stories at Fresh Accounts.
1TD Ameritrade, Inc. (“TD Ameritrade”) is a broker-dealer
subsidiary of TD Ameritrade Holding Corporation. Brokerage services
provided by TD Ameritrade, Inc., member FINRA (www.FINRA.org)
/SIPC (www.SIPC.org)
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version on businesswire.com: http://www.businesswire.com/news/home/20180122005261/en/
TD Ameritrade Holding CorporationFor Media:Christina
Goethe, 201-369-8510Corporate
Communicationschristina.goethe@tdameritrade.com@TDAmeritradePRorFor
Investors:Jeff Goeser, 402-597-8464Investor
Relationsjeffrey.goeser@tdameritrade.com
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