Business Services Industry
Merrill Lynch Enters Online Trading.
Knight Ridder/Tribune Business News, June, 1999 by Browning, Lynnley
Knight Ridder/Tribune Business News
Jun. 2 -- Just as one of the financial world's old-line stalwarts took a bold step into the future, a next-generation investment firm made one leap further.
The nascent battle for control over the money world's new frontier, the Internet, heated up yesterday, as Merrill Lynch & Co., the nation's largest stock brokerage, said it would offer on-line trading, and ETrade Group Inc., an Internet brokerage, announced it was expanding into Web-based banking.
Both moves reflect warp-speed changes in the financial services world. Traditional money management companies are racing to decide how they will adapt to the rise of electronic commerce, while hot new firms, some simply virtual shops in cyberspace, are working...
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