Together, Green Line and Waterhouse rank number two in the world, second only to Schwab. In the meantime, TD is constrained by securities laws from talking about its discount business until the issue has been completed. When you think of on-line trading, you think of discount brokers, but Mr. Bates says they're not synonymous. Schwab is building a full-service business on the backbone of its electronic discount business, he says. The allure of E-finance lies in the changing demographics, industry participants say.
Investors are the winners, brokers say.
Not only do they save money trading on-line, but they have a wealth of information at their fingertips to help them make decisions. We've given consumers control. Mr. Bates agrees. You had to come to me. Today my clients get the information at 5 a.m. and are calling me at 6 a.m. for my opinion.