Fast-Growing Ameritrade Beefs Up Its Technology

Ameritrade's (AMTD Quote) relationship with the Internet has been more Bill and Hillary than Ronnie and Nancy.

Ameritrade remains one of the fastest-growing online brokers. It was the No. 6 online broker in the fourth quarter with 7.6% of online trades, according to Piper Jaffray. Its stock took off in December, along with E*Trade's (EGRP Quote) and Charles Schwab's (SCH Quote), and just keeps going up. Shareholders have been rewarded with 228% return in 1999 alone. The stock closed up 4.4%, or 2 3/16, at 51 11/16 Monday.

But the Omaha, Neb.-based company has suffered technology problems for about a year as its tremendous growth has outpaced its technological abilities. Attendees at a conference last March heard from Ameritrade execs about how the company couldn't keep up with demand. ...