The Wireless Internet for Securities Brokers

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The Wireless Internet for Securities Brokers

• By Chad Cutright

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Financial Services m-Commerce Market Size
Source Datamonitor
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U.S. Mobile Brokerage Users, 2000-2005
Source Tower Group, 2000
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Advantages of Wireless Brokerages

• Anytime/Anywhere services
• Trade instantly where ever you are
• Read the latest news
• Receive stock alerts about movements in your
  portfolio while on the move
  
• Research a stock with the latest quote/price
  chart, and obtain financial information within
  minutes.

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Wireless Brokerage Limitations

• Devices -
• Small screens and slow connection speeds make it
  difficult to display complex financial
  information even on the most popular mobile
  devices.

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Wireless Brokerage Limitations (Cont.)

• Security
• Customers concerns for security will limit
  their willingness to perform financial
  transactions through the wireless channel.

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Wireless Brokerage Limitations (Cont.)

• Technology
• High-bandwidth applications require
  next-generation technologies, typically 2.5G or
  3G, which are not due to be widely available
  until 2002 and 2006 respectively.

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Ameritrade

• Services Trades, quotes, alerts, notifications,
  account information, order status, track stocks,
  news
  
• Devices Sprint PCS Phone, Palm V and VII

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Morgan Stanely Dean Witter

• Services Trades, quotes, alerts, notifications,
  account information, order status, track stocks,
  charts, news
  
• Devices Palm IIIxe and V

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CFSBdirect

• Services Trades, quotes, alerts, notifications,
  account information, order status, track stocks,
  news
  
• Devices Phone, Palm III and V, RIM Windows CE
  Handheld

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ETrade

• Services Trades, quotes, alerts, notifications,
  account information, order status, track stocks,
  research, charts, news, funds transfer
  
• Devices Phones, PDAs, RIM

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Fidelity

• Services Trades, quotes, alerts, notifications,
  account information, order status, track stocks,
  charts, news
  
• Devices Phones, Palm V and VII, RIM 950

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TD Waterhouse

• Services Trades, quotes, account information,
  order status, track stocks, charts, news
  
• Devices - Phones

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Schwab

• Services Trades, quotes, alerts, notifications,
  account information, order status, track stocks,
  news
  
• Devices Phones, Palm IIIx and Vx, RIM 950 and
  957

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Suretrade

• Services Trades, quotes, account information,
  order status, track stocks, charts, news
  
• Devices Phone, Palm III, V, VII RIM

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CitiTrade

• Services Alerts, notifications, account
  information, track stocks, news
  
• Devices Phone

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Wells Fargo

• Services Alerts, notifications, track stocks
• Devices Phone, Palm VII