Online brokers the most popular option for ASX trades
Around half of all trades on the Australian Stock Exchange, measured number rather than value, are executed via the internet. Trades conducted through internet-based brokers are up to three quarters the price of trading through conventional means. The premium broking business for institutional clients is still dominated by the long-established investment banks and stockbrokers.
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- The NAB trades online to complete the four February 17, 2000 The National Australia Bank has announced an alliance with Sanford Securities to offer an online broking service (National Online Trading), being the last of the big four banks to offer this service. While Comsec was an early mover in online broking, Westpac and ANZ (alligned with Etrade) have entered this…
- Comsec offers online trades at $19.95. March 30, 2000 Just as the brokerage charged by online brokers for internet trading had stabilised at around $28 to $29 for online trades up to $10,000, Comsec is now offering a fee of $19.95. Comsec, being the industry leader with 132,000 internet accounts, is able to offer this reduced rate due to…
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