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Term of the day - May Day


Rahul Gupta (Project Controller ACA MBA(Fin.))     13 May 2010

Rahul Gupta
Project Controller ACA MBA(Fin.) 
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What Does May Day Mean?


Refers to May 1, 1975, when brokerages changed from a fixed commission for securities transactions to a negotiated one. Previous to this, commissions were standard from broker to broker.


At the time, the majority of Wall Street felt that these changes would have little effect on their commisions. However, shortly after the switch, Charles Schwab pioneered what are now known as discount brokerages, which charged much lower fees, and in some cases none at all - known as no-advice accounts. As a result, the number of individual investors expanded greatly. This was the first step in the creation of the discount brokerage houses that we know today.

 

Hv a nice day........

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Ankur Garg (Company Secretary and Compliance Officer)     13 May 2010

Ankur Garg
Company Secretary and Compliance Officer 
 15473 likes  114609 points

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Very good. Keep sharing...No need to say thanx

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Rahul Bansal (Finalist)     14 May 2010

Rahul Bansal
Finalist 
 4482 likes  35915 points

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awesome information.........

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