Investment banker Merrill Lynch has decided to use the internet to make research reports from its analysts publicly available, for a while, anyway. The nation’s largest brokerage has launched a four-month trial period in which visitors to its web site can access its research on over 1,500 companies that it covers. Merrill has previously guarded its reports and has exhibited some skepticism about online trading. But this initial foray into the world of online brokerages shouldn’t be perceived as a major philosophical change, according to Merrill. It says that showcasing its research, which it considers one of its major assets, would simply be a way to help bring in clients. The bank is probably reacting to the growing power of the internet, borne out by the fact that roughly 20% of all retail trades are currently being transacted online. Online trading is not currently offered by Merrill – and won’t be offered in conjunction with the new service, to be officially launched on November 2 – but perhaps this move could be seen as a first step in that direction. For now, registration to the free information is for US residents only, but the numerous attempts we made to register proved fruitless, presumably because of the increased traffic on Merrill’s server.
