Traditional brokers are updating their playbook to meet the discount broker challenge
They have seen it all on Dalal Street. From the time trading would open for only two hours in the afternoon at the Bombay Stock Exchange ring to the high of the Sensex closing above 2,000 for the first time in 1992, from the crash fuelled by Harshad Mehta’s great game to the pandemic-led boom in capital markets. But in the last five years, the full-service traditional brokers—once the final word on equity markets—have also seen the rules of the game change irrevocably. The digital disruption led by pioneer discount brokers like Zerodha, Upstox and Groww has left them behind.
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