TD Waterhouse - I requested IPO shares via my Waterhouse account, and just received a copy of the preliminary prospectus today. After the offering, TD Waterhouse will have 365 million shares outstanding, so do the math on market cap.
Company, % online market in Q1 (today's WSJ), market capitalization
Schwab, 27.9%, $34 billion
Etrade, 13.3%, $7.4 billion
Waterhouse, 11.7%, $7.3-$8.8 billion
Ameritrade, 8.3%, $3.8 billion
DLJ Direct (tracking stock), 2.8%, 2.5 billion
Schwab and Waterhouse have the advantage (or disadvantage) of branch offices all over the place. Despite the poor performances of online brokerage stocks in the past week, I think TD Waterhouse is a winner.
Elroy |
