The real virtual business.(how full-service brokerage firms will fare with online trading of shares)
Economist (US), The, May, 1999
One in 6 shares is traded over the Internet in 1999, yet full-service brokerage firms do not offer online trading leaving some to wonder whether companies such as Merrill Lynch will survive in the long run. The full-service firms will have to fundamentally change, including laying off large amounts of brokers, but they have the capital and assets to change successfully.
NEW YORK
Internet broking and trading have come of age. But who will profit from making them possible?
``NO COMPANY anywhere does more business than us over the Internet,'' says Charles Schwab, of the brokerage firm that bears his name. No surprise, then, that as e-mania has gripped the American stockmarket, Schwab's share price has soared, along with those of other firms that...
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