Monday, October 24, 2005
Brokerage News: M&A galore
Pending approval, Ameritrade will become TD Ameritrade after digesting TD Waterhouse (US edition), while eTrade will be digesting JP Morgan Chase Manhattan First USA Bank One's Brown & Co. At this rate of M&A activity, there won't be many discount brokers left, and that probably means the fees of discount brokers will be almost as high as Merrill, Fidelity and Schwab. Ouch!
