Online Broker Datek Says Trading Volume Fell 22%
By a WALL STREET JOURNAL Staff Reporter
In another indication that the slump in trading by individual investors shows no sign of abating, Datek Online Holdings Corp. reported Tuesday that its trading volume fell 22% in February.
Datek, the nation's third-largest online broker, said its customers made an average of 91,541 trades a day last month, down from an average of 117,695 trades per day in January. The drop was the biggest for the closely held Iselin, N.J., company since this past May, when trading volume fell nearly 27%.
"February was just a really bad market for individual investors and it had an impact on trading," a Datek spokesman said. He added that trading activity has remained "about the same" so far this month. |
