Part 1 of Essay
is composed of a wide variety of firms. The main players include independent full line brokerage firms, investment bank subsidiaries of chartered banks, and discount brokers. Independent full line brokerage firms offer a wide range of services, including underwriting, trading of stocks, advice and research. In essence, ....

Part 2 of Essay
.... by acquiring key players in the industry or branching off into full brokerage services. For example, the brokerage firms for CIBC, Royal Bank, Toronto Dominion Bank, Bank of Nova Scotia and Bank of Montreal are Wood Gundy, RBC Dominion, Evergreen, Scotia McLeod and Nesbitt Burns respectively. In addition, the aforementioned chartered banks have also branched into the discount brokerage sector. As of December 1994, the Securities Industry as a whole included 158 firms, directly employs over 24,000 people, h ....