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- Global Banker Morgan Stanley has made a purchase of Electronic Trading Platform E*Trade for $13 Billion.
- E*Trade is a crypto oriented trading platform, which has planned to give the option to start trading of Bitcoin and Ethereum to its users.
- E*Trade is a multi-function electronic trading platform and also a financial corporation that gives the option to trade stocks both common and preferred.
Global Banker Morgan Stanley has made a purchase of Electronic Trading Platform E*Trade for $13 Billion. The purchase was made public on the Wall Street Journal, and the all-stock deal was made official today.
This is one of the biggest purchases done by any banking institution since Morgan Stanley was struck with a catastrophe in 2008. The CEO of Morgan Stanley, James Gorman said on the purchase that the company will buy anything of value and shows future promises, he stated that Morgan Stanley is not building a legacy; it is getting ready for prime time.
The new purchase might seem to work out in the digital world and might push the stock market value of Morgan Stanley from negative to trend to a positive one. The stock value is trading at -4% on average and is trying to push over the line.
E*Trade is a crypto oriented trading platform, which has planned to give the option to start trading of Bitcoin and Ethereum to its users. Previously Charles Schwab also made it to the headlines when it had made a similar purchase worth $26 Billion in November for TD Ameritrade which is similar to E*Trade.
It is one of the top American multinational banks with investment and financial services.
It has subsidiaries such as Discover Financial Services, Metalmark Capitals, Van Kempen Investments, FVI Inc and much more. The Gross revenue of Morgan Stanley is whopping 4,010.7 Crores USD.
E*Trade is a multi-function electronic trading platform and also a financial corporation that gives the option to trade stocks both common and preferred, future contract exchange funds trading, options trading, mutual funds, and fixed-income investments.
The company is also listed as a stock option in NASDAQ and has average greens at 24.64%. It has a revenue of 287.3 Crores USD annually.
