Question
Online brokerage industry faced a major change in October 2019. Robinhood finally forced major online brokers to cut stock trading commissions to zero. But there
Online brokerage industry faced a major change in October 2019. Robinhood finally forced major online brokers to cut stock trading commissions to zero. But there is no such thing as a free lunch. Brokers still need to make money to continue to provide services. How do they make money? Since Robinhood is still private and we cannot look at its financial statements, lets understand instead E*Trades business. Find E*Trades latest 10-Q (quarterly reports with the SEC; use 2020 Q2). Go through the statement and find the numbers for its net revenues for 2020 Q2. List the three largest net revenue items and discuss them briefly
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