RATE Group | Bitcoin Could Benefit as Charles Schwab Looks to Buy TD Ameritrade – BeInCrypto
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Bitcoin Could Benefit as Charles Schwab Looks to Buy TD Ameritrade – BeInCrypto

21 Nov Bitcoin Could Benefit as Charles Schwab Looks to Buy TD Ameritrade – BeInCrypto

Posted at 22:19h in Bitcoin News by

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Two massive stock brokerages look set to merge, as sources reveal Charles Schwab will buy TD Ameritrade for $26 billion. The deal may have an impact on the Bitcoin market, given that the latter firm currently offers BTC futures.

Citing unnamed sources, FOX Business reporter Maria Bartiromo called the merger “a done deal.” A formal announcement is expected at some point today.

The Logical Conclusion

The share price of both companies rocketed pre-market today. CNBC reports TD Ameritrade shares rising by 27 percent and Schwab’s by 14 percent.

According to Schwab founder, Charles Schwab, mergers are a “logical conclusion” given heightened competition amongst brokerages to reduce their trading fees. In October, Schwab eliminated commission fees, prompting both Fidelity and TD Ameritrade to follow.

The elimination of fees looks set to impact Schwab’s profitability in the short term. A projection made at the time estimated that the move would cut around three or four percent into…

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