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E*TRADE Financial Corporation's (ETFC) 24,000 United Kingdom accounts have been sold off to Toronto-Dominion's UK brokerage unit, TD Waterhouse (UK). The deal, which we first heard about through several postings like this, is consistent with E*TRADE's str...
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From the believe it or not file we bring you news from FINRA that they have awarded $1 million to four schools to fund legal clinics for poor investors. That's right, FINRA figures that those "who do not have the financial resources to obtain legal counse...
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OptionsXpress (OXPS) reported quarter-end and year-end results this morning and, compared with what we just witnessed at E*TRADE (ETFC), we have to say the results are a breath of fresh air despite some nagging declines in earnings. The big surprise from ...
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E*TRADE Financial Corporation (ETFC) finally hit us with year-end results -- and what a year it's been. The company has been focused on restructuring, raising cash to shore up its balance sheet (at the request of the OTS) and trying to focus on its broker...
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We're normally not big on reporting about the back-end machinations of broker-dealers. As exciting as wire-room transactions and cubicle expansions can be, they're often more about process than strategy and, well, we're strategy guys at heart. We did, how...
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Shocking results out of Interactive Brokers (IBKR) this afternoon. That is, unless you've been following their progress this year. We earlier reported the December business metrics for the firm and commented on the typically sluggish December results. Now...
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The Charles Schwab Corporation (SCHW) reported fourth quarter and full year results Tuesday afternoon. We take a look at Q4, which is of course a much more current indicator of performance. Schwab's fourth quarter net revenue declined 23% year-over-year. ...
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He's in, he's out, no he's in, okay... he's out. We told you before this story was going to give us whiplash but now the diagnosis is complete. At least we know resolution is upon us. Well, we think anyway. Just last August Fidelity's President, Rodger La...
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A total of nine currency dealers, including Gain Capital, GFT Forex, FXCM, Interbank FX and Oanda have joined forces to fight the hedging rule changes proposed by the Commodity Futures Trading Commission (CFTC). The Foreign Exchange Dealers Coalition, or ...
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The Charles Schwab Corporation (SCHW) is on the move. The company announced yesterday that it is planning to sell 26.3 million shares in a common stock offering that is expected to raise $480 million. The offering could raise as much as $553 million if th...
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TD Ameritrade (AMTD) is the first heavy-hitting online broker to lay some Q4 results on us and what we see is a decrease in new account production and trading activity, but total assets continuing to grow. This is not necessarily good news in a "near-zero...
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We learn this morning that E*TRADE Financial (ETFC) has acquired Cake Financial. Surprisingly, the site has immediately shut down and all of the information stored in the service has been destroyed. We visited E*TRADE's site this morning and see no mentio...
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We've seen some, uh, interesting promotions from the online brokers in our day. There was the TD Ameritrade (AMTD) bus tour; that was a good one. TD Ameritrade is actually only a sponsor of the tour, but it still classifies as promotion. And who wouldn't ...
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The Charles Schwab Corporation today announced that they're slashing commission rates on equity trades by 30% to $8.95. Options trading fees remain $8.95 plus $0.75 per contract. The new pricing takes effect in two weeks, on January 19th, and will also be...
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TradeStation Securities (TRAD) gives us our next glimpse into the slippery slope that is Q4. The first thing we noticed: DARTs dropped a whopping 27% versus December 2009. So even while total client assets continue to climb at a healthy clip (31% year-ove...
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Interactive Brokers Group (IBKR) reported their December metrics and the results, while sluggish, were not surprising. Customer accounts, while 21% higher than a year ago, remained relatively flat versus November. Trading activity was mild, as one would e...
