Merrill Rolls Web-Based Data Service

Merrill Lynch has launched Merrill Lynch Online (MLO), a Web-based service that offers Merrill clients access to market data, proprietary research, account information and electronic bill payment. The data--which is delayed--is being supplied by ILX Systems; there are plans to make the data real time.

Embedded in the MLO software is a Netscape Communications' Navigator Web browser that gives users access to the Web, and will eventually connect clients' home-based PCs to the firm's Trusted Global Advisor (TGA) workstations so that they can communicate directly with brokers.

MLO's launch was preceded by the creation of Merrill's intranet, which, interestingly enough, uses Microsoft Internet products, including Internet Explorer as its browser. The intranet was rolled out in stages to all Merrill employees by the end of 1996, and is used to disseminate the firm's own research internally (IMD, August 12, 1996).

Meanwhile, Merrill is planning to replace its retail broker workstations with TGA workstations. The brokerage will switch its 25,000 heavily customized versions of ADP's 286-based FS Partners with TGA workstations, which will run Windows NT with data from ILX on IBM Pentium-based PCs. The firm announced its plans to release TGA last August, and the project is slated to be completed by the end of this year. It is over these TGA workstations that MLO will allow home-based PCs to interact with brokers.

All Merrill clients can get the MLO service, free of all charges except for the Internet connection fee. MLO is available 24 hours a day, seven days a week. While the research is Merrill's own, the firm is working with Multex Systems on the technology for research distribution.

A spokesperson from Merrill says that Merrill was "paying for the ILX data, anyway," and so doesn't have to pay any further costs for the data on the service.

The spokesperson adds that the fact that the firm's intranet technology was supplied by Microsoft, while the Internet browser for MLO is being supplied by Netscape, is indicative of the fact that "these things are decided on a project-by-project basis."

With MLO, clients can view Merrill research commentaries, and the market data, as well as communicate via e-mail with their financial consultant. Clients can pay their bills over MLO using the Merrill Lynch Electronic Bill Payment service, for which the firm partnered with Visa Interactive. Merrill has chosen IBM Global Network to be its dial-access provider of choice to the Net for MLO.