The monster deal could see the two biggest brokerages combine.
As the brokerage industry looks to recover lost revenue from eliminating trading fees last month, two of the leading firms could be merging to create a brokerage giant, with Charles Schwab in talks to buy TD Ameritrade, CNBCA merger between the two biggest publicly traded discount brokerages would create a massive wealth manager, with over $5 trillion in assets . Schwab has a current market cap of $57.5 billion, while TD has a $22.4 billion market cap. from Fox Business.
Schwab and TD’s potential merger comes one month after major brokerages became embroiled in a price war and started slashing trading fees to zero—a move that is good for customers butShares of both TD Ameritrade and Schwab spiked in premarket trading, rising 24% and 10%, respectively. Shares of another brokerage, ETrade Financial, dropped nearly 5% on the news of the merger, as many analysts had dubbed it the
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