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February 28, 2007Online brokers struggled yesterday, but not E*Trade
Aaron Pressman
The good folks at Gomez, Inc., a market research and consulting firm, forwarded some of their data about the performance of online brokerage web sites during yesterday's melt down and the news isn't pretty. Of the major online firms, response times plummeted during the final hour of the trading day as their web sites struggled to manage a rush of orders. Here's how long, in seconds, it took to get a response to a transaction on average from 3 p.m. to 4 p.m. yesterday:
Brokerage/Response Time
E*Trade/4.974
TradeKing /12.004
Options Xpress/13.373
TD Ameritrade/15.534
Think or Swim/20.447
FirstTrade/20.448
WallStreet E/20.557
Scottrade/23.653
Charles Schwab /43.123
Muriel Siebert/43.302
Wells Fargo Brokerage/66.365
Banc of America Investment Services/81.671
Fidelity/96.014
Vanguard/208.43
Obviously, some of the biggest online brokers are going to be reviewing their systems today. For the sake of comparison,the average response times averaged from 4 to 22 seconds in the same hour on Monday.
03:53 PM
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Comments
I'm with Etrade - should I be worried? I don't trade a lot, just a few shares a year, but this makes it seem like the brokers aren't prepared technologically.
Posted by: Sally at March 1, 2007 11:03 AM
Etrade i think came out of this in flying colors. It runs on ope source technologies (Most of it)...Microsoft need to learn from this...
Posted by: Bram at March 1, 2007 12:07 PM
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