Unformatted text preview: ket, the threat
comes from the traditional houses with their established brand
names, fabulous sources, and global reach.
What began as a battle largely about the cost of individual transactions has become one about the quality of the
technology—especially its ability to deliver rapid and efficient
execution of trades—and of the ancillary services the brokers
offer. Schwab, for example, has dropped its old squeamishness
about giving sharebuying advice . . . Schwab will now give advice, so long as it is “unconflicted.” . . . There is, of course, a
mind-boggling array of financial data, newswires, advice, gossip, and so on available on the net at no charge at all. So the
brokers are having to expand their services in other ways too.
These may include, for example, alert systems, that will inform
the customer by e-mail, or message to a mobile phone, pager
or PDA, when a particular share price has reached a trigger
level. The brokers are also competing by offering banking and
money market accounts. Schwab, for example, already provides an electronic bill-payment service. E*Trade last year...
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- Spring '09
- Accounting, Financial services, FIS, Depository Institutions