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DLJ's Tracking Strategy Separates DLJdirect From Online Broker Crowd
With its plan to sell stock in DLJdirect, Donaldson Lufkin & Jenrette (DLJ Quote) will introduce a different type of stock into the online brokerage arena.
DLJ on Wednesday filed a registration statement to offer tracking stock for its No. 7 online broker DLJdirect, likely sometime in the second quarter.
The decision to issue tracking stock, instead of spinning off part or all of DLJdirect, will make DLJdirect a slightly different animal from its online broker brethren, Ameritrade (AMTD Quote), E*Trade (EGRP Quote) and Charles Schwab (SCH Quote). ...
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