Scotiabank to acquire online broker TradeFreedom

Canada's Scotiabank has signed a definitive agreement to acquire privately-owned online brokerage TradeFreedom Securities. Financial terms of the deal were not disclosed.

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Scotiabank to acquire online broker TradeFreedom

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Established in 1999, TradeFreedom provides services to active traders and investors including instant trading and confirmations with direct access to exchanges and ECNs and free streaming real-time data.

Scotiabank says the transaction complements offerings currently available through itsdirect investment arm, ScotiaMcLeod Direct Investing.

Chris Hodgson, EVP, head of domestic personal banking, Scotiabank, says: "The bank will maintain TradeFreedom's brand and leverage both platforms' competitive range of online brokerage products."

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