On-line trade fees falling off the screen
Article Abstract:
The on-line discount broker price war represents mostly a very good deal for average investors, according to experts. The top 10 on-line brokerage firms' average commission has fallen from nearly $53 in early 1996 to approximately $32 in mid-1997, which amounts to a 40% drop. Commissions then fell to about $16 by late 1997, according to Piper Jaffray researchers. Ameritrade and Suretrade's $8 commissions are among the single-digit offerings from some brokers. These savings stem partly from an industry shift in the mid-1990s, in which many discount brokers replaced prices based on transaction size with flat fees. Numerous investors and trades benefitted from the less-expensive commissions. Few special or hidden charges are another advantage, and special charges rarely jump far above the advertised commission.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Amex agrees to join forces with Nasdaq
Article Abstract:
Two-thirds of the American Stock Exchange's 828 members voted to join Nasdaq's parent organization, the National Association of Securities Dealers (NASD). Nasdaq and American, the country's second and third largest stock exchange respectively, now are better poised to compete with the New York Stock Exchange, although they will continue to function as separate bodies. American will gain use of Nasdaq's electronic trading system in the deal by which NASD seeks to create a less expensive and more efficient global exchange market for companies such as MCI, listed on the Nasdaq, and Viacom, listed on the Amex. NASD will spend at least $110 million on AMEX for techonological upgrades and $30 million on both exchanges for advertising and marketing.
Comment:
American Stock Exchange joins Nasdaq to compete with NY Stock Exchange
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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Chicago and Pacific markets are said to be in merger talks
Article Abstract:
Negotiations over joining the Chicago Board Options Exchange, the world's largest options exchange, and the Pacific Exchange, which controls the third-largest stock options market, are raising speculation about the rapidly consolidating global financial markets. The merger still would have to be approved by the exchange's boards and regulators. US financial exchanges, which have been under pressure to reduce their trading costs and upgrade their technology, are seeking ways to compete with similar mergers in the US and Europe.
Comment:
Negotiations over a merger the Chicago Board Options Exchange are continuing
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
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