23 August 2017
Visit http://response.ncr.com

TD Waterhouse targets day traders with RJT acquisition

15 August 2001  |  3265 views  |  0 TD Waterhouse targets day traders with RJT acquisition

Online brokerage TD Waterhouse has acquired privately-held direct access firm R J Thomson (RJT), in a move intended to boost its appeal to active day traders.

Financial terms of the all cash deal were not disclosed. TD Waterhouse expects the acquisition could cost up to four cents a share in the first year due to retention and performance incentives as well as funding costs. The transaction is expected to close in the final quarter.

RJT offers investors dynamically updated accounts, direct access to market makers and ECNs, streaming real-time market data and Level II quotes, plus the ability to enter multiple order tickets simultaneously.

The company's technology is slated to be integrated into TD Waterhouse's US platform in the first half of 2002. In the interim, active investors at TD Waterhouse will be advised to open a separate account with RJT, which will continue operating as an independent unit from its base in Omaha, Nebraska.

Richard Rzasa, chief information officer of TD Waterhouse, says the firm will expand on the functionality of RJT's direct access platform and over time combine it with the product, service and technology offerings TD Waterhouse already has in place.

As part of the agreement, Randy Thompson and Greg Gilgenast of RJT will join TD Waterhouse as managing director, Active Trader Division and senior vice president, respectively.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Ameritrade to acquire Deutsche US brokerage

Ameritrade to acquire Deutsche US brokerage

31 July 2001  |  3751 views  |  0 comments
Broker-solicited trades set to revolutionise online brokerage

Broker-solicited trades set to revolutionise online brokerage

26 July 2001  |  3326 views  |  0 comments
TD Waterhouse launches UK fund supermarket

TD Waterhouse launches UK fund supermarket

24 July 2001  |  2650 views  |  0 comments
Affluent customers turn to e-brokerages

Affluent customers turn to e-brokerages

17 July 2001  |  3037 views  |  0 comments
Scotia revamps online brokerage, cuts costs of trading

Scotia revamps online brokerage, cuts costs of trading

09 July 2001  |  2530 views  |  0 comments
TD Waterhouse and DBS to launch SE Asian investment venture

TD Waterhouse and DBS to launch SE Asian investment venture

20 June 2001  |  2131 views  |  0 comments
TD Waterhouse targets wealthy with pan-European brokerage

TD Waterhouse targets wealthy with pan-European brokerage

18 June 2001  |  2845 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.vasco.comvisit www.worldpaymentsreport.com

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
17836 views comments | 41 tweets | 78 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
13180 views comments | 28 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11813 views comments | 22 tweets | 34 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11037 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
10915 views comments | 10 tweets | 8 linkedin