The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Schwab Seizes Active Traders Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, March 08, 2001

Schwab Seizes Active Traders

Reported by Alfred Wang

Schwab is bringing faster and better informational products to their active traders in an equity-only service called the StreetSmart Pro. The service, which will offer improved trading capabilities like direct access next quarter, is aimed at Schwab clients trading more than 120 times a year.

A result of last year's acquisition of CyBerCorp, the service is more of a response to the needs of the all-important active traders requesting better information and more powerful trading functionalities, rather than a corporate strategy aimed at retaining the traders, said a Schwab spokesperson.

"People are no longer listening to their doorman or their cab driver," said the spokesperson. "Our active traders are asking for better information to feel more comfortable with their transactions."

The spokesperson declined to give the specific market size of those eligible for the StreetSmart Pro, but contextualized the move by defining "active trader" as those trading more than 48 times a year. Active traders are responsible for approximately 57% of all the trades, online and off, at Schwab.

A similar pilot program with Schwab Institutional is currently underway.


Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2019: Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use