Back in May, we wrote about TradeKing and Zecco tying the knot. The merger has now officially closed. The closing of the merger means that there is now one holding company for both firms, which is being called TradeKing Group, Inc. The application to merge into one firm has been filed with FINRA, and TradeKing Group expects approval within the next couple months. Both brokerage firms will continue to operate as separate brands and on individual platforms while the integration process continues.
Key Takeaways Regarding This Merger
When the merger was first announced, many (including us at StockBrokers.com) wondered what name the new merged company would go with. In the end, the brokers decided to stick with the TradeKing name. The newly-merged company statement explained that Zecco’s brand name was built around the zero commission concept, which is no longer relevant. Executives decided that keeping the TradeKing name was the simplest solution to avoid any possible delays or distractions. As the integration of these two brokers hits the final stages, expect to see a new logo to go along with a whole new brand identity.
It’s clear that these two brokers saw the need to combine forces to take on the giants of the industry. Zecco’s investor community has always been at the top of the charts. TradeKing has been lauded for their tremendous customer service. It will be interesting to see what these two can do as they become one major industry player. The final hurdle hasn’t quite been cleared (waiting on the FINRA), but another major step has been taken!