In Brief: Schwab Picks Aether For Wireless Trading

Aether Systems Inc., one of the leading developers of transaction and information systems for wireless communications devices, has added Charles Schwab & Co. to its client list.

Following competitors such as Bear, Stearns & Co. and Discover Brokerage, Schwab chose Aether for a wireless securities trading service that it plans to introduce before yearend.

Aether said the system will be based on the Aether Intelligent Messaging software and "is expected to allow Schwab customers to conduct trading and manage their accounts through Schwab."

The signing of what is the biggest discount broker, with 6.2 million active accounts, and the top Internet brokerage, with 2.8 million on-line accounts, was a coup for three-year-old Aether.

In August, Aether announced a definitive agreement to acquire Mobeo Inc. of Bethesda, Md., which would expand the company's services into the foreign exchange market.

Aether said almost 80% of foreign exchange senior traders use Mobeo-enabled pagers to receive real-time financial data. The two companies "create a competitive and complementary mix of products," said Aether president and chief executive officer David Oros.