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Subject:  Re: MS Buying E*Trade Date:  2/20/2020  3:50 PM
Author:  CMF_Fuskie Number:  50558 of 50574

For a long time, the institutional brokerages catered to higher end players, ceding the discount market to lower volume, main street traders and investors. But with the collapse of trade fee revenues, we're seeing a totally expected consolidation as the larger brokerages are missing the revenue and discount brokerages see their lower priced advantage evaporate.

Whose only surprise is that Morgan Stanley got to E*Trade before Fidelity could...

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