That's interesting, the Bank of New York is not your typical bank, they tend to invest in fee driven businesses rather than focusing on standard banking. They also own Pershing which is one of the largest clearing firms on Wall Street and has a software platform for broker dealers for clearing trades, executing orders, etc, many brokers use them as their back office. Pershing used to be owned by Credit Suisse but was sold to BNY when CS had a meltdown and needed to raise capital. Pershing's tech is not that great while E*Trade's is as we know amazing.
While not on my suitor radar I could see BNY make a play for E*Trade as BNY/Pershing does not have nearly the financial advisory (buy side) business as TD Ameritrade or Schwab so perhaps an E*Trade and BNY/Pershing merger could have a lot of synergy and put the combined company into that category. Very interesting scenario.
Stay long and strong, this company is worth more than $10.
I was in the securities business for nearly 20 years, I've been to Pershing's office in Floram Park, I know the sell and buy side well. I do not belive E*Trade will be bought by TDA or Schwab rather a suitor like BNY or one of the top tier banks.