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This could be VERY big news in Japan Stock Brokers To Set Online Trading Fees As Low As 1,000 Yen TOKYO (Nikkei)--Some securities companies will start online brokerage services with fees as low 1,000 yen, when brokerage commissions are liberalized as expected on Oct. 1. Commissions on trades below 50 million yen or less are currently set at fixed rates. The commission for a 1 million yen trade, for instance, is 11,500 yen, excluding consumption tax. Sharply reduced commissions will cut the cost of investing for individuals and encourage more trading. Nikko Beans Inc., an affiliate of Nikko Securities Co. (8603), plans to charge less the more clients invest through them. The firm's commission rates, scheduled to take effect from October, will range from 0.2% to 0.5% of traded value. The minimum fee is expected to be 1,000 yen. Matsui Securities Co. will charge a commission of 3,000 yen, if a client trades three times in a day for a total investment of 3 million yen or less. This amounts to 1,000 yen per trade. Monex Inc., an affiliate of Sony Corp. (6758), announced Wednesday that it will set a commission of 1,000 yen on trades up to 1 million yen made over the Internet, where the client does not specify a price limit. (The Nihon Keizai Shimbun) |
