Online Broking Strategies: Surviving the Downturn at Merrill Lynch, Charles Schwab, and E*Trade

Abstract:The advent of online broking in the mid 1990s re-drew the map of the broking industry. New entrants included both established brokers and new firms attracted by the potential of reaching new customer segments drawn to the on-line brokerage business model. However, the rapidly growing on-line brokerage industry, estimated to include up to 150 firms in the United States, was soon faced with a different market environment.