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Non-Tech : E*Trade (NYSE:ET) -- Ignore unavailable to you. Want to Upgrade?

To: LABMAN who wrote (8346)	9/6/1999 10:36:00 AM
From: LABMAN	Respond to of 13953

Online trading surges in the U.K FROM CNET/BLOOMBERG Online Share Trading in U.K. Surges 73 Percent in 2nd Quarter Bloomberg News September 6, 1999, 3:52 a.m. PT London, Sept. 6 (Bloomberg) -- The number of online share trades in the U.K. surged 73 percent in the second quarter, according to a survey, helping the country's No. 1 Internet broker Charles Schwab Europe boost business. The total number of online trades rose 73 percent to 51,000 in the second quarter, from 29,500 in the first quarter, according to the Association of Private Client Investment Managers and Stockbrokers. Schwab, a unit of San Francisco-based Charles Schwab Corp., is profiting from the rapid growth in investing over the Internet. It said its Internet service, which started in June 1998, accounted for 83 percent of the market, or 66,400 online trades out of a total of 80,384 in the first-half. Online investing in the U.K. is capturing the smaller trades. Internet trades averaged 4,730 pounds ($7,580) in the second quarter compared with an average 6,444 pounds with other brokers, the survey said. ''The picture that is emerging is of investors using the online services for their smaller trades but seeking out expert research and advice when it comes to their larger investments,'' Angela Knight, chief executive of APCIMS, said in a statement. The market for online trading in the U.K. is getting increasingly competitive. E*Trade Group Inc. started Internet trading in Britain in July and DLJ Direct Inc., a unit of Donaldson, Lufkin & Jenrette, started its U.K. service last week. More News: EGRP