TD Ameritrade Launches Investor Movement Index

  TD Ameritrade Launches Investor Movement Index

  First of its kind index measures monthly active investor positions against
recent and historical data; reveals investor portfolios have become relatively
                                 more bullish

Business Wire

OMAHA, Neb. -- January 8, 2013

TDAmeritrade, Inc. ("TD Ameritrade"), a broker dealer subsidiary of
TDAmeritrade Holding Corporation (NYSE: AMTD), is today debuting a new index
that provides insight into the overall sentiment of the Main Street investor.
The Investor Movement Index^SM, or IMX^SM, is a proprietary, behavior-based
index created by TD Ameritrade, which harnesses data from one of the largest
pools of American retail investors in order to lend insight into how bullish
Americans may be about the market. It measures and aggregates what actions
investors have recently taken, and what that positioning does to their

“TD Ameritrade is proud to be the first and only firm to look at investor
sentiment in this new way,” said Steve Quirk, senior vice president of TD
Ameritrade’s trader group. “With a large, diverse pool of six million funded
client accounts spanning investors of all ages, account sizes, and experience
levels, we saw a unique opportunity to create a quantitative, behavior-based
index that can better reflect what retail investors are actually doing.”

Many of the available indicators prior to the Investor Movement Index weren’t
based on behavior, but instead based on opinion-based surveys. When combined
with surveys, the IMX can provide a more complete snapshot of retail investor

The index value is calculated based on a comprehensive, proprietary formula in
which the holdings and positions of a statistically significant sample of
accounts are evaluated to arrive at individual scores. The median of the
individual scores represents the IMX.

“The purpose of the Investor Movement Index is to harness our vast amount of
retail client behavior data to show, over time, how this group reacts to
market events,” continued Quirk.

The first official Investor Movement Index data is for December 2012. Past IMX
scores going back to January 2010 are available. Each future release will
include the overall score and commentary. Data for a given month will be made
available between the 6^th and 8^th business day of the following month. (For
example: The Investor Movement Index for March 2013 would be issued on April
8^th, 9^th or 10^th).

The December 2012 (as of December 28^th) Investor Movement Index reveals:

  *Score: 4.94
  *Trend Direction: Positive
  *Trend Length: 1 month
  *Score relative to historic ranges: Moderately High

In December 2012, the S&P 500 was well above the highs seen in 2011. The IMX,
however, has been slower to recover as client portfolios have indicated more
cautious allocations than in past equity market rallies.

The IMX increased in December 2012 after remaining flat from October 2012 to
November 2012, moving to the upper end of the 3-year range at 4.94. The last
time the IMX climbed to the 4.94 level was in January of 2011, when both the
S&P 500 and the IMX continued their upward trend. Over the last 6 months
clients have increased their cash allocations, which typically are seen as an
effort to reduce equity market exposure. However, market forces and specific
buying activity were more powerful than cash movements, causing the IMX to
rise. Clients, in general, tended to buy or hold securities with an increased
level of volatility relative to the S&P 500, which in turn increased their
overall level of equity market exposure. For example, Apple’s (AAPL)
volatility relative to the equity market increased in December, and our
clients were net buyers of Apple shares – both of these factors helped the IMX
move higher.

For more information on the Investor Movement Index and to view the full
report please visit:

Historical data should not be used alone when making investment decisions.

For the latest TD Ameritrade Holding Corporation news and information, follow
the Company on Twitter, @TDAmeritradePR. For the latest market observations
and information from some of our TD Ameritrade Experts follow @TDANSherrod and


About TDAmeritrade Holding Corporation

Millions of investors and independent registered investment advisors (RIAs)
have turned to TD Ameritrade’s (NYSE: AMTD) technology, people and education
to help make investing and trading easier to understand and do. Online or over
the phone. In a branch or with an independent RIA. First-timer or
sophisticated trader. Our clients want to take control, and we help them
decide how – bringing Wall Street to Main Street for more than 36 years. TD
Ameritrade has time and again been recognized as a leader in investment
services. Please visit TD Ameritrade’s newsroom or for more

Brokerage services provided by TDAmeritrade, Inc., member FINRA
( /SIPC ( /NFA (


TDAmeritrade, Inc.
For Media:
Beth Evegan, 201-369-5930
Manager, Communications & Public Affairs
For Investors:
Jeff Goeser, 402-597-8464
Director, Investor Relations & Finance
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