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Online Stock Market Trading Online brokerage, Ameritrade, is buying Toronto-Dominion Bank's TD Waterhouse in deal valued at $2.9 billion that will create the biggest online broker in the World.If you would like to receive late breaking business news covered by AXcess News then you need to subscribe. Membership is free.

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Although online brokerage has lost some of its cachet, firms have built a solid franchise. Trade Group Inc. (www.etrade.com) had its seventh straight quarter of operating profits in the first quarter, generating $19.4 million in earnings before a charge related to a change in accounting rules. Ameritrade Holding Corp. (www.ameritrade.com) had net income of $11 million in its fiscal first half, ended March 29.

Stock Market Game June 22, 2005 (AXcess News) Toronto - Online brokerage, Ameritrade, is buying Toronto-Dominion Bank's TD Waterhouse in deal valued at $2.9 billion that will create the biggest online broker in the World.Ameritrade said the combined companies would create significant value in cost savings, though layoffs were not mentioned.

AXA is a world leader in financial protection and wealth management, with major operations in Western Europe, Pacific area. AXA services 50 million customers throughout the world ( ). In total, the AXA Group has approximately 110, , working in around fifty countries. * reported total revenues for the first half of 2006 of £29 billion and underlying earnings of £1200 million and had £700 billion in assets under management as of June 30, 2006.

Stock Investing Game Toronto-Dominion will retain 32% of the merged online brokerage firms once the deal is closed. The new company is going to be called TD Ameritrade and will carry a combined customer account base of over 5.9 million users who trade online. Ameritrade said the combined businesses will execute 239,000 trades daily.The deal comes at time online brokerages are still recovering from the dotcom bust when 30% of all trades on the NASDAQ and NYSE came from online firms. Now, that number is down to 10%.

expected 3.6 percent, led by record revenue from its securities unit and banking outside the US. Citigroup's investment bank earned $1.93 billion, more than any Wall Street firm except Goldman Sachs Group Inc. ( GS). Chief Executive Charles Prince expressed approval of Citigroup's securities and international banking sector but was disappointed in Citigroup's consumer business saying, "The one we're not firing on is our consumer business, which we saw good customer interaction and lower credit costs, but we also saw revenue growth was not where we hoped it would be."

Journal Prime Rate Street Wall The merger could pressure other online brokerage firms to consolidate.

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