Schwab launches MCP server so clients can trade from Claude

Charles Schwab has launched its own Model Context Protocol (MCP) server, which lets clients connect their Schwab accounts to the AI assistant they use, according to a press release. The pilot is open to a select group of clients using Anthropic's Claude, and Schwab plans to add more clients and more AI platforms over the coming months.

Once a client authorises the connection, the AI can pull market data and research, analyse how positions have performed, summarise the portfolio, create alerts and organise investment information. On accounts enabled for thinkorswim, Schwab's trading platform, it can also prepare, place and manage trades, with the client kept in the loop.

Schwab, which holds $13.33 trillion in client assets, also announced a thinkorswim Assistant that answers plain-English questions about using the platform, and longer options trading hours for more than 30 stocks, ETFs and indexes. Both follow Charley, its AI assistant for Schwab.com and the mobile app, which is rolling out in phases. "There's no question that AI is going to make our clients' investing and trading experience easier," said James Kostulias, Schwab's head of trading services.