Stock-Trading Fees Sink to Record Low
Wall Street’s average stock- trading commission fell to a record low this year as more shareholders switched to electronic transactions and institutional investors pressed for lower fees, according to an industry survey.
The average rate for trading a New York Stock Exchange-listed share declined to 3.9 cents a share from 4.2 cents last year, consulting firm Greenwich Associates said in a survey of fund managers released Wednesday. The average for a Nasdaq Stock Market trade dropped to 3.8 cents from 4 cents.
Commissions have declined by almost 70% since May 1, 1975, or “May Day,” when regulators abolished fixed rates, opening the market up to competitive pricing.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
