The banking watchdog is now planning to introduce an inter-dealer broking system for trading bonds.
Young people are getting into business in a big way - mostly in commodity broking.
Others include leasing, credit and debit cards, asset management, securities broking, pensions and insurance.
The Malaysian government is now forcing firms to consolidate in banking, broking and insurance.
But at heart, from a business point of view, Google is an advertising broking company.
By far the gloomiest is CLSA, a broking firm, which is predicting a horrendous 11% drop in 2009.
If this strategy works, it will threaten those full-service brokerages that have so far largely left Internet broking alone.
"It is not that the broking community is indifferent to disasters or feelings, " one Bombay trader said this week.
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Perhaps not in some derivatives products, where counterparty risks make an electronic-broking service difficult, but certainly in bond markets.
He is likely to begin by making changes in Morgan Stanley's retail-broking arm.
CSOB, and local broking firms to form the Foundation for Capital Market Development.
"We expect the overall slowdown to continue over next two to three months, " Karvy Stock Broking in a recent note.
But the opportunity to build a full retail-broking business in Japan from the ashes of Yamaichi clearly excites Merrill more.
"It's exciting, there are going to be many changes, " says Srivatsa Kumar, oil analyst with Jardine Fleming India Broking in Bombay.
Another is the foreign operations of comdirect, the bank's online broking business.
They have no established broking business to lose and the Internet could help them win valuable customers from the full-service brokerage firms.
IDB, wants this year to launch an electronic bond-broking system in Europe.
Conventional wisdom has it that the investment bank erred in 1997 when it merged with Dean Witter, a retail broking and credit-card company.
It is now making much more of an effort to sell services like credit cards, broking and asset management to its well-heeled clients.
It also likes Cazenove's equity-broking and corporate-finance businesses, though it thinks both will be more profitable if they have more things to offer.
Mr. Srinivasan of Angel Broking Ltd. had hold ratings on seven stocks during 2012 and buys on just one, JK Lakshmi Cement Ltd.
Morgan Stanley's proprietary funds have the biggest market share among the five largest broking firms, according to Financial Research Corp, a Boston research firm.
As he moved Legg Mason away from broking into asset management, he began to count more big endowment and corporate-pension funds among his clients.
Banks, for their part, view the fees charged for capital-raising in part as a pay-off for the effort and expense put into their corporate-broking work.
In London we distinguish (perhaps not so much these days but we certainly did when I took my stock broking exams) between flotations and introductions.
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Analysts are employed by banks, fund managers and stock broking firms to study the performance and trading prospects of a particular firm or company sector.
And if, as seems likely, bank-solvency rules are redesigned, capital charges for prime-broking operations could yet rise, causing a contraction in lending to hedge funds.
Could banks have shown risk out of the front door by selling loans, only to let it return through the back door of prime broking?
Since the year began, says Charles Schwab, there has been evidence that some customers are shifting back from its discount-broking operations to its fund supermarket.
The e-broking business has turned out far tougher than anyone expected.
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