OMAHA, Neb., Jul 20, 2009 (BUSINESS WIRE) -- TD AMERITRADE Holding Corporation (NASDAQ: AMTD) announced today that TD AMERITRADE, Inc. will offer to purchase, at par, eligible auction rate securities (ARS) that were purchased through the firm by certain retail investors on or before Feb. 13, 2008, provided they were not transferred out of the firm before Jan. 24, 2006, resolving pending investigations into its sale of the securities.
"Given our financial strength and the ongoing illiquidity in the auction rate securities market, initiating a buy-back program of this nature is the right thing to do for our clients," said Fred Tomczyk, president and chief executive officer at TD AMERITRADE. "While our role in the market for these securities was significantly different from that of other financial institutions that have previously announced similar programs, we believe this is the best way for us to help clients who have been unable to find liquidity in the current market environment."
According to this program, which is expected to begin no later than Aug. 10, 2009, TD AMERITRADE will do the following:
The Company entered into settlement agreements with the Securities and Exchange Commission and state regulators, resolving their respective investigations related to the sale of ARS. No fine was imposed.
Individuals interested in this purchase offer can find more information about the program by visiting www.amtd.com and clicking on the "Auction Rate Securities" link, or by calling the firm's dedicated ARS service line at 800-454-4519, Monday through Friday, between the hours of 7:00 a.m. and 5:30 p.m. CDT.
About TD AMERITRADE Holding Corporation
TD AMERITRADE Holding Corporation, through its brokerage subsidiaries,(1) combines innovative trading technology, easy-to-use and understand investment tools and services, investor education and superior client service to create a market-leading financial services experience. Now home to the award-winning thinkorswim trading platform(2) and the Investools investor education program, TD AMERITRADE provides millions of retail investors, traders and independent registered investment advisors (RIAs) with the tools, service and support they need to help build confidence in today's rapidly-changing market environment. The Company's common stock trades under the ticker symbol AMTD. For more information, please visit www.amtd.com.
(1)TD AMERITRADE, Inc., member FINRA (www.FINRA.org) /SIPC (www.SIPC.org), TD AMERITRADE Clearing, Inc., member FINRA/SIPC, and thinkorswim, Inc., member FINRA(www.FINRA.org) /SIPC (www.SIPC.org) /NFA (www.nfa.futures.org).
(2)thinkorswim was rated #1 overall online broker, "best for frequent traders," and "best for options traders" in Barron's ranking of online brokers, 3/16/2009. thinkorswim was evaluated versus others in eight total categories, including trade experience/execution, trading technology, usability, range of offerings, research amenities, portfolio analysis & reporting, customer service & access and costs. thinkorswim topped the list in 2009 with the highest weighted-average score. Barron's is a registered trademark of Dow Jones & Company ©2009.
SOURCE: TD AMERITRADE Holding Corporation
TD AMERITRADE Holding Corporation
Kim Hillyer, 402-574-6523
Senior Manager, Communications
Jeff Goeser, 402-597-8464
Director, Finance and Investor Relations
Copyright Business Wire 2009