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Non-Tech : Dorsey Wright & Associates. Point and Figure -- Ignore unavailable to you. Want to Upgrade?

To: Augustus Gloop who wrote (990)	10/13/1999 12:59:00 PM
From: Ms. X	Respond to of 9427

Here are the surveys predictions for the future: The following are predictions for some possible future developments affecting Internet-based stock markets and electronic trading: There will be a shakeout of stock brokers, especially full service brokers. All stock brokers have to provide internet trading to remain competitive. Brokers have to create new and better services for their customers because the ease at which investors can get information will make stock brokers obsolete. Internet IPO will become increasingly popular because it provides small businesses with a relatively cheap and easy method of gaining more capital for their businesses. As more people participate in such offerings, secondary markets will grow in size until a sustainable digital market exists. However, the primary stock markets today will remain the most active. As soon as perceived security issues are resolved, electronic trading will gain popularity. Commission price wars will erupt and commissions will be totally eliminated. Brokers will have to rely on making profits through the stock bid-ask spreads. Full service brokers may change to charging a monthly fee for customers who wish to retain the broker's services. When electronic cash and fund transfer systems become stable and reliable technology, banks will offer their customers the ability to trade on-line, competing with other brokers. Banks may offer free banking services or higher interest payments to customers who trade electronically with their banks. Advances in networking hardware and software will increase efficiency of electronic trade executions. Investors will be able to submit a transaction and receive a confirmation for the completed trade within a few minutes. The further development of software will allow investors to place automated buy and sell orders that are executed based on real-time market quotes. This advantage will put individual investors on par with brokers and institutional investors. The proliferation of electronic trading will lead to higher stock market efficiency.