To: Eric who wrote (11688 ) 1/15/1998 1:36:00 PM From: Scrapps Respond to of 22053
Online Stock Trading Surges This is why the company leadership should start talking to us (the shareholder) and not just ANALysts and Brokers!! By DAVID JOACHIM Online stock trading skyrocketed 150 percent during the last nine months of 1997, according to the latest survey on online usage. The American Internet User Survey, conducted by Cyber Dialogue and released today, found that 4.6 million people were trading equities online. The report also found a 30 percent rise in the use of online banking to 4.2 million adults. Nearly a quarter of that group is 50 or older and 46 percent of users under 30 are female, suggesting that online activities are reaching the mainstream. The survey also placed the average income of online stock traders at $78,300. The report comes as no surprise to those who follow the online activities of financial services companies. Charles Schwab & Co., for one, said recently that the online portion of its business was approaching the 50 percent mark and that a quarter of its business is now conducted over the Web. Entire businesses have sprung up in recent months that are dedicated to online financial services, including outfits like E*Trade, which is in the process of beefing up its network to meet rising demand. Indeed, during the billion-share trading volumes last October, a fury erupted when many Web brokerages were not able to handle the load and outages were reported. Several brokerages said they would offer refunds for failed trades and since then, the Securities and Exchange Commission has fielded complaints from individual traders about service quality. techweb.cmp.com