Scotiabank to acquire online broker TradeFreedom

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.

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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