Bank of Nova Scotia today announced the signing of a definitive agreement to acquire TradeFreedom Securities Inc., a privately owned and dynamic Canadian online brokerage boutique.

The transaction complements product offerings currently available through the bank’s direct investment arm, ScotiaMcLeod Direct Investing. Terms of the transaction were not disclosed, and are subject to regulatory approval.

“This transaction is an excellent strategic fit for both organizations and we look forward to providing a seamless transition to the customers and employees of TradeFreedom,” said Chris Hodgson, executive vp, head of domestic personal banking, Scotiabank. “Scotiabank anticipates no interruption in TradeFreedom’s business. The bank will maintain TradeFreedom’s brand and leverage both platforms’ competitive range of online brokerage products and high quality customer service.”

Established in 1999, TradeFreedom is a leading online broker for active traders and investors, providing a sophisticated bundle of services, including instant trading and confirmations with direct access to exchanges, electronic communication networks (ECNs) and free streaming real-time data.

With both advanced Web and customizable desktop trading platforms, TradeFreedom also offers U.S. and Canadian equity, options, futures and foreign exchange trading, access to pre-market and after-hours trading, as well as an array of advanced order types.

“TradeFreedom remains committed to our goal of being Canada’s leading brand for self-directed active investors,” said Jay Ferst, co-CEO and co-founder. “Our entrepreneurial drive and experienced team, coupled with the strong financial support of Scotiabank, will enable us to continue to provide our clients with the high level of service they have come to expect from TradeFreedom.”

“At Scotiabank, our brand will live on and continue to strengthen, providing active investors with better technology and service, said Dominique Ferst, TradeFreedom’s co-CEOand co-founder.

TradeFreedom focuses on the fast-growing, self-directed active investor market.TradeFreedom is a member of the Investment Dealers Association and the Canadian Investor Protection Fund.

“Scotiabank’s focus going forward continues to be a strong customer-centered strategy,” said Barb Mason, executive vp, wealth management, Scotiabank.