Schwab Bid for CyberCorp a Sign of Things to Come

Black sheep, welcome to the flock.

When Schwab (SCH Quote) this morning announced plans to acquire CyberCorp, a renegade software firm-turned-trading shop, it was the most clear sign yet that direct-access systems pioneered by daytraders have gone mainstream.

It's a strange sort of road that brought Schwab, which went up-market with its acquisition of blue-blood U.S. Trust three weeks ago, to the doorstep of tiny CyberCorp with $488 million of flowers and candy. But it's one that's likely to be traveled by many established brokers -- online and otherwise -- that need connections to firms that will allow them to cut commissions for active traders by offering direct-access trading without market makers. ...