thomas j. bahnck management science & information systems penn state university
Post on 01-Jan-2016
29 Views
Preview:
DESCRIPTION
TRANSCRIPT
Merrill Lynch DirectFeatures and Functionality
of Tracker, News, and Quotes Compared to Free Financial Portals
Thomas J. Bahnck
Management Science & Information Systems
Penn State University
Client Access Group Intern
Merrill Lynch Direct
Introduction
Project Overview
Tracker
Quotes
News
Conclusion
Why Compare MLD and Financial Portals?
• Offer several similar features• Portals openly accessible with larger audience• Functionality more comprehensive on portals• Feedback from IFR draws comparisons of MLD
and free sites• Usability testing suggests clients complement
online broker with Yahoo! Finance, CBS MarketWatch, etc.
Introduction
Project Overview
Tracker
Quotes
News
Conclusion
What Do Our Clients Say?
• “Why does the tracker feature not reflect stock splits automatically?” - MSN MoneyCentral automatically updates
• “Improve the news references and get them all. I have to go to Yahoo’s screens to see what is going on.” - Yahoo! Finance has 16 sources
• “I have had several requests about adding the Dow Industrial, S&P 500, American Exchange composite to the tracker quotes” (from FC) - SmartMoney.com has multiple indices
Introduction
Project Overview
Tracker
Quotes
News
Conclusion
- from IFR
MLD Site Statistics
As of July 21, 2000:
• 3,148,050 Requests for Tracker (19% of hits to Research)
• 64,086,266 Requests for Quotes (40% of hits to site)
• 3,325,510 Requests for News (21% of hits to Research)
• =All vital areas of Merrill Lynch Direct
Introduction
Project Overview
Tracker
Quotes
News
Conclusion
MLD Tracker Analysis
• Merrill Lynch lags far behind - only 16 data items available compared to an average of 38.7 and max of 65 (MSN MoneyCentral)
• Lacks basic data items such as Earnings/Share, 52-Week High/Low, p/e ratio
• Unable to track cash• Offers only 2 views, Market Data and
Performance, while other sites add Historical, Tax, Industry...
• Cannot customize views• Will not account for splits, commissions, or
dividends
Introduction
Project Overview
Tracker
Quotes
News
Conclusion
The Competitions’ Trackers - MSN MoneyCentralIntroduction
Project Overview
Tracker
Quotes
News
Conclusion
“Several Clients have requested stock names instead of only symbols on tracker” - IFR
“Several Clients have requested stock names instead of only symbols on tracker” - IFR
“In addition to showing cumulative profit/loss, show daily profit/loss for the entire portfolio” - IFR
“In addition to showing cumulative profit/loss, show daily profit/loss for the entire portfolio” - IFR
The Competitions’ Trackers - CNNfnIntroduction
Project Overview
Tracker
Quotes
News
Conclusion
“Allow us to create our own performance of our account” - IFR
“Allow us to create our own performance of our account” - IFR
Quotes Overview• Merrill Lynch level with competitors - has 5
basic features compared to average of 4.3 and 21 data items versus average of 18.3
• Offer better integration with other areas of the site: “It would be a lot easier if the quote page had my Watch List symbols across the top as links” (-IFR)
• 5-Minute chart does not use real-time data• Cannot add symbol directly to tracker
Introduction
Project Overview
Tracker
Quotes
News
Conclusion
The Competitions’ Quotes - CNBCIntroduction
Project Overview
Tracker
Quotes
News
Conclusion
Indices
Integration
Additional Features
News Functionality
• MLD news sources limited with only 3 providers compared to average of 7.5 and max of 16 (Yahoo! Finance)
• Lacks keyword search• Cannot view news for all holdings in one screen• Mixes news articles with press releases• Java dialog box complicates navigation from
tracker
Introduction
Project Overview
Tracker
Quotes
News
Conclusion
Yahoo! Finance NewsIntroduction
Project Overview
Tracker
Quotes
News
Conclusion
Filter by source
MLD NewsIntroduction
Project Overview
Tracker
Quotes
News
Conclusion
Summary
TRACKER• Needs more data items, customization, and greater
functionality• Increase max number of trackers• Provide integration with ML research and opinion
changes
QUOTES• On par, but could better integrate with other features
NEWS• Need more providers• Expand filter and search capability• Provide a view containing news items for entire
tracker/portfolio
Introduction
Project Overview
Tracker
Quotes
News
Conclusion
top related