NEW YORK, Dec. 4, 2008 (GLOBE NEWSWIRE) -- thinkorswim Group Inc. (Nasdaq:SWIM), a leading provider of online brokerage and investor education services, announced performance metrics for November 2008.
"The volume in our brokerage business held up extremely well in November despite the severe volatility of the market, reinforcing our confidence in the thinkorswim model. We achieved our second highest levels for new accounts opened (at 10,925) and retail DARTs (64,500) - exceeded only by our record October results. New funded accounts continued at a strong pace, total funded accounts reached a record 94,450, and account attrition declined further to the lowest level in two years. Contrary to some expectations that the electronic brokerage industry's results might not be sustainable, our performance has been characterized by strength and stability," commented Lee K. Barba, Chairman and CEO of thinkorswim Group Inc.
thinkorswim, Inc.
* New accounts opened* of 10,925. Total accounts opened* of
223,450; 90% higher than November 2007
* New funded accounts of 3,825; 7% higher than November 2007
* Funded accounts of 94,475 at month-end; 72% higher than
November 30, 2007
* Retail DARTs of 64,500; 43% higher than November 2007
* Active Trader DARTs of 106,800; 392% higher than November 2007
* Client assets of $2.88 billion at month-end; 16% higher than
November 30, 2007
Investor Education Group
* Total paid graduates of 7,380, compared to 4,420 in November
2007
* Active subscribers at month-end of 98,300, compared to 103,000
on November 30, 2007
*accounts opened represents accounts that have initiated the application process with the intent to fund.
About thinkorswim Group Inc. (Nasdaq:SWIM)
thinkorswim Group Inc. (www.thinkorswim.com) offers market-leading online brokerage, investor education and related financial products and services for self-directed investors and active traders. thinkorswim Inc., our award-winning online brokerage division, provides a suite of trading platforms serving self-directed and institutional traders and money managers. thinkorswim platforms have easy-to-use interfaces, sophisticated analytical and research tools, and fast and efficient order execution for even the most complex trading strategies. thinkorswim customers trade a broad range of products including stock and stock options, index options, futures and futures options, forex, mutual funds and fixed income. Investools' Education Group offers a full range of investor education products and services that provide lifelong learning in a variety of interactive delivery formats. Investools' graduates can then apply what they've learned by trading with thinkorswim's online brokerage platforms.
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Safe Harbor
This press release may contain forward-looking statements. Such forward-looking statements may be identified by words such as "believe," "intend," "expect," "may," "could," "would," "will," "should," "plan," or similar statements. All forward-looking statements are based largely on current expectations, beliefs and assumptions concerning future events that are subject to substantial risks and uncertainties. These risks and uncertainties include, but are not limited to: general changes in economic conditions and changes in conditions affecting the financial services industry specifically, regulatory developments that affect the way we market or sell our products and services, our inability to protect our proprietary technology, our ability to sell existing products and services in both new and existing markets, and other factors which are more fully described in the Company's filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, actual results may vary in material aspects from those currently anticipated. The forward-looking statements made in this press release relate only to events as of the date of this release. We undertake no ongoing obligation to update these statements.