Schwab Buys Mayer & Schweitzer And OTC Order Execution System

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Charles Schwab & Co. is acquiring Mayer & Schweitzer Inc., a market-maker in over-the-counter (OTC) securities that operates its own automated execution system. Despite the possibility Schwab might seek to incorporate the system into its own order-routing and transaction-processing systems, officials at both Schwab and Mayer & Schweitzer deny there are any such plans.

In a deal set to be finalized this month, Schwab will pay $28 million to bring Mayer & Schweitzer (M&S) under its umbrella. M&S

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