DisnatDirect, the two-week old online brokerage unit of Desjardins Securities, has moved to acquire the Internet division customer base of SwiftTrade, the largest direct-access brokerage in Canada.
The acquisition gives Disnat Direct instant market penetration in Ontario and British Columbia, where SwiftTrade's customer base is strongest.
Yves Néron, head of the online brokerage division of Desjardins Securities, says: "Our acquisition of SwiftTrade clearly shows our determination to invest in a growing market and ensure that we have a solid Pan-Canadian presence."
Founded in 1997 and headquartered in Toronto, SwiftTrade's Internet division currently generates more than $1 million in annual revenues.