The online financial services world finds itself back in the mergers-and-acquisition spotlight today as Ameritrade and TD Waterhouse have confirmed reports that they are talking about merging their online brokerages.Ameritrade Holding confirmed that talks were under way with Toronto Dominion Bank, the parent of TD Waterhouse, about a possible merger. That came after the Financial Times of London reported that the two were close to a deal that could be worth as much as US$3 billion.Ameritrade would not discuss details of the discussions and said the talks could still end without an agreement.Analysts have long called for a wave of consolidation to hit the online stock brokerage world, which has been racked by lower demand for stock trading services since the peak of the dot-com boom, when retail investors became heavily involved in direct stock purchases.In fact, several of the major firms have been linked in possible merger talks in recent months, with E*Trade reportedly having spoken with both Ameritrade and TD Waterhouse about combinations without reaching a deal.In addition to lower demand, the so-called discount brokerages face increasing price pressure as more established brokerages have moved online, creating a range of services for consumers. The e-commerce arm of Charles… Read full this story
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