Schwab release, portion re commissions.
Wednesday February 2, 7:59 am Eastern Time
SAN FRANCISCO, Feb. 2 /PRNewswire/ -- Also today, Schwab announced new commission reductions for its most active retail customers, cutting online equity commissions for eligible customers from $29.95 to as low as $14.95 for customers when they surpass 60 qualifying trades in a quarter.
Under the new pricing, effective February 1, commissions for online equity trades drop from $29.95 to $19.95 when customers exceed 30 qualifying trades per quarter and down to $14.95 when they surpass 60 qualifying trades in a quarter. Customers must have $50,000 in household assets at Schwab to qualify for the new pricing. (For details, see Appendix A.)
Appendix A: New Pricing Schedule
Up to 1,000 shares Price per share over 1,000 shares
$29.95 for first 30 trades/quarter 3 cents
$19.95 for 31st to 60th trades/quarter 2 cents
$14.95 for 61st trade and above/quarter 1 cent per share or $14.95, whichever is greater
Pricing Offer:
-- Eligible customers will automatically receive new pricing.
-- Applies to all eligible customers who execute a qualifying number of commissionable equity and option trades at Schwab in a calendar quarter.
-- The discounted commission price is in effect at the time the trade is executed and will be reflected in confirm and statements. However, the discounted commission price may not be reflected in estimated commissions on schwab.com and Velocity.
Assets/Accounts:
-- Customers must have a total of at least $50,000 in assets in their combined eligible Schwab accounts. Eligible accounts are all accounts that contain the same last name and same address of the customer.
-- Accounts managed by an enrolled Investment Manager with Schwab Institutional do not qualify for this offer.
Qualifying Trades:
-- Each customer account must meet the trade threshold independently with 30 or 60 qualifying trades per quarter to qualify for discounted commissions at each threshold. (See below for more details on discounted trades.)
-- All equity and option trades that are charged commissions and are executed through any channel (e.g., the branch, phone representatives, Telebroker, Schwab.com or Velocity) in the calendar quarter qualify to meet the 30 and 60 trade thresholds. No mutual fund trades, bond trades, treasury trades and any type of zero commission trades qualify to meet the pricing thresholds nor will they receive pricing discounts through this offer.
Discounted Trades:
-- Only equity trades (no option trades) placed through Schwab.com or Velocity will receive discounted pricing. No penny stock trades or equity trades resulting from option exercises or assignments will be discounted.
-- Trades receiving this discount must be executed during the same calendar quarter as the qualifying trades. Trade counters are reset to zero at the beginning of each calendar quarter (January 1, April 1, July 1 and October 1).
-- Commission discounts are not retroactive and will only apply to trades placed after the launch of this offer on February 1, 2000.
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Great, IMO, for both account-holders and the stock.
Now give us pre-market trading! <g>
Best wishes,
Tom |
