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Schwab to stem Web crashes
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June 16, 1999: 3:29 p.m. ET
No. 1 online broker taps IBM to help prevent site breakdowns
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NEW YORK (CNNfn) - In an effort to minimize the Web site failures that raise the ire of online investors, Charles Schwab & Co. is working with IBM to shore up its computer systems, the companies said Wednesday.
Online trading sites, such as Schwab (SCH), E*Trade Group Inc. (EGRP) and DLJDirect (DIR) have suffered from frequent crashes as the number of investors trading over the Internet continues to soar.
Schwab, the No. 1 discount and online broker, said it will implement IBM (IBM) technology that will allow its servers in separate locations to share data.
The move comes on the heels of Schwab reporting a 28-percent decline in online trading in May.
Schwab shares were up 5-3/8 at 86-3/4 in late afternoon trade. IBM shares gained 4-1/4 to 120-1/8. 
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