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gathers pace, American Internet brokers have begun moving into Britain and increasingly
are setting their sights on the Continent as well.
Their arrival poses a challenge for new European on-line trading firms. Analysts
expect it to accelerate vast changes in the securities business that are already under way
here as Europe becomes a single market.
Nowhere is the trend more apparent than in Britain. In April, Charles Schwab Corp
set up an online trading service, and in June, the E-Trade Group, based in California,
announced a joint venture with a British partner, as well as licensing
agreements
in
Germany. Other Internet brokers such as Ameritrade and DLJ Direct are studying moves
to catch up. ‘American brokers, under
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