TD Ameritrade trading platform thinkorswim hit by systems glitch

By John McCrank

NEW YORK (Reuters) – Online retail brokerage TD Ameritrade Holding Corp said some of its thinkorswim desktop trading platform customers were unable to log on for a second-straight day, as the S&P 500 <.SPX> hit a new all-time intraday high on Tuesday.

“We are currently experiencing a system issue impacting clients’ ability to connect to the thinkorswim desktop platform. In the meantime, clients can access their accounts through thinkorswim Web, the thinkorswim mobile app and via all other TD Ameritrade platforms. We are working to address the issue as quickly as possible,” the company said in a statement.

The Omaha, Nebraska-based company is in the process of being bought by rival Charles Schwab Corp in an all-stock deal that was valued at $26 billion when it was announced in November.

Retail participation in the equities markets has surged since March, as shares soared in response to government stimulus aimed at countering the coronavirus’ economic impact. The surge also came as Main Street investors cheered the recent elimination of trading fees by most large online brokerages, including TD Ameritrade.

That flurry of trading helped S&P 500 touch a record of 3395.06 early on Tuesday, topping the high of 3,393.52 hit on Feb. 19.

(Reporting by John McCrank; Editing by Tom Brown)