Penson Financial Services Canada Inc. has entered into an introducing/carrying broker agreement with thinkorswim Canada, a newly launched member of U.S. online brokerage firm thinkorswim.

Penson is an independent Canadian clearing firm and member of the Penson Worldwide group of companies, while thinkorswim Inc. is the brokerage arm of Investools Inc., an online brokerage and technology provider that offers services to self-directed options traders and active traders.

“In Penson, we have found a partner that shares our exacting levels of professionalism and integrity, with a strong focus on service and technology,” said Tom Sosnoff, a founder of thinkorswim, in a release.

“Penson’s flexible service model, combined with thinkorswim’s unique business model offers investors efficient trade processing and settlement unrivalled in the industry,” said John Skain, president, Penson Financial Services Canada.