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AMTD TD Ameritrade Holding Corporation

39.97
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
TD Ameritrade Holding Corporation NASDAQ:AMTD NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 39.97 39.94 39.97 0 00:00:00

TD Ameritrade, Fidelity Brokerages Suffered 'Brexit' Slowdowns

24/06/2016 10:50pm

Dow Jones News


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Some self-directed investors found themselves shut out from their portfolios Friday morning as markets reeled from the U.K.'s vote to leave the European Union.

Investor Kevin Michael Martin was frustrated after finding he couldn't access his TD Ameritrade brokerage account Friday morning for more than an hour. Mr. Martin, an actor who's appeared on such TV shows as "The Last Ship," added he was trying to sell stock and cover a short position during the Dow Jones Industrial Average's plunge of more than 400 points Friday morning.

At one point, Mr. Martin said, he had lost 2.5% on his short position.

Mr. Martin said the situation "disappointed" him but it has been since resolved.

Rory McGrath, meanwhile, saw the Dow drop nearly 500 points when the market opened and was considering buying any stocks he considered to be discounted. However, when the Boston-based investor tried to access his Fidelity Investments brokerage account, the "home page appeared to be down," he said.

Other investors had taken to social media to voice their frustration, some saying they were missing on buying opportunities, while others worried about deep losses.

Fidelity spokesman Adam Banker said trading and the company's website have been running throughout the morning, but he said there "have been some intermittent slowness and page-loading issues." The problems plagued certain webpages and Fidelity's mobile app, which the company is currently addressing, Mr. Banker added.

TD Ameritrade, meanwhile, said a surge in trading volume contributed to problems with its online platform. "This morning's heavy volumes across the industry caused some brief messaging and login delays. Everything is now functioning normally," said TD Ameritrade spokeswoman Beth Evegan.

Britain's surprise decision to leave the EU has roiled markets across the world. Stocks in Asia, Europe and the U.S. fell dramatically and oil prices did drop, while investors flocked to such haven investments as government bonds. The Dow closed down 611 points, or 3.4%.

Brokerage firms have been reporting higher-than-usual call and trading activity amid the selloff. Still, other firms with online brokerages said their services were running without any problems.

Vanguard Group, for example, saw website volume 50% higher than usual Friday morning, according to a spokeswoman. She added the firm prepared for the heightened volume and that service levels were "good."

Scottrade Inc. also saw higher trading activity. Shea Leordeanu, a spokeswoman, said trading was up more than 145% at 1 p.m. on Friday compared with June's average daily trade volume for the same time.

Its platform didn't experience any hiccups.

"Our clients experienced seamless trading today and we had excellent performance across our platforms," Ms. Leordeanu added.

Daisy Maxey contributed to this article

Write to Michael Wursthorn at Michael.Wursthorn@wsj.com

 

(END) Dow Jones Newswires

June 24, 2016 17:35 ET (21:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

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