Online Brokers -- Changing Of The Guard

Back to Contents of Issue: June 2001

by Sumie Kawakami

The online equity trading industry is changing rapidly, and a series of mergers have been underway since last winter.

Actual Mergers
• March 2001: Nikko Beans merged with IT Securities, a joint venture between Nikko and Fujitsu.

• April 2001: Japan Online Securities merged with E*Wing Securities to create Securities Co., holding a combined 64,884 accounts, according to the new firm's Web site. (JO Securities is backed by Daiichi Kangyo Bank and Itochu Corp, among others, while the Sanwa Bank backs E*Wing.)

Monex is due to merge with Saison Securities Co., a subsidiary of consumer finance Credit Saison, on June 30.

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