Day traders, once seen as the untouchables of the investing world, are increasingly being courted by the largest names in the brokerage business, particularly on-line brokers.
Early last year, discounter Charles Schwab Corp. bought active trading firm CyberCorp to service day traders. On-line brokerage Ameritrade Holding Corp. bought TradeCast Ltd. last month in a similar transaction. E*Trade Group Inc. is also close to launching its own offerings for active investors.
For executives at A.B. Watley Group Inc., a Manhattan-based on-line brokerage that caters to day traders-providing not just brokerage services but the Web-based software systems to facilitate it-all this ...