TD Ameritrade Holding Corp was established in 1971 as a local investment banking firm and began operations as a retail discount securities brokerage firm in 1975. The Company is a Delaware Corporation. The Company provides securities brokerage services, including trade execution, clearing services and margin lending, through its broker-dealer subsidiaries. The Company provides trustee, custodial and other trust-related services to retirement plans and other custodial accounts through its state-chartered trust company subsidiary. The Company's education subsidiary provides a suite of investor education products and services. The Company also provides cash sweep products through third-party banking relationships. It is a provider of securities brokerage services and technology-based financial services to retail investors and business partners. The Company provides its services predominantly through the Internet, a national branch network and relationships with independent registered investment advisors ('RIAs'). The Company uses its efficient platform to offer brokerage services to retail investors and institutions under a simple, low-cost commission structure. It has been an innovator in electronic brokerage services since entering the retail securities brokerage business in 1975. It is the first brokerage firm to offer the following products and services to retail clients: touch-tone trading; trading over the Internet; unlimited, streaming, free real-time quotes; extended trading hours; direct access to market destinations; and commitment on the speed of order execution. Since initiating online trading, it has increased the number of brokerage accounts, average daily trading volume and total assets in client accounts. It has also built, and continues to invest in, a proprietary trade processing platform that is both cost-efficient and scalable. It delivers products and services aimed at providing a comprehensive, personalized experience for active traders, long-term investors and independent RIAs. The products and services available to clients include: Common and preferred stock, Exchange-Traded Funds, Option trades, Futures and foreign exchange trades, Mutual funds, Fixed income, Margin lending and Cash management services. The Company earns commissions and transaction fees on client trades in common and preferred stock, ETFs, options, futures, foreign exchange, mutual funds and fixed income securities. It plans to continue to grow and increase its market share by advertising online, on television, in print and direct mail and on its own Web sites. These competitors include E*TRADE Financial Corporation, The Charles Schwab Corporation, Fidelity Investments and Scottrade, Inc. The securities industry is subject to regulation under federal and state law.
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