The companies, products and regulatory developments shaping the broker industry.
Morgan Stanley’s customer margin and other lending rose $12.756bn in nine months. Wealth Management grew faster than Institutional Securities, while a separate $29.058bn securities-segregation figure measures a different obligation—not collateral coverage of the whole loan book.
The difference between Schwab's $187.9bn operational margin-loan metric and $128.1bn balance-sheet brokerage receivables largely reflects separate adviser long/short arrangements; customer cash and borrowing costs add a second risk lens.
IBKR’s October accounts reached 5.678m, up 34% annually, while daily average revenue trades fell 4%; customer asset values and margin loans must not be equated with earnings.