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To: Beltropolis Boy who wrote (1043)	5/14/1999 7:24:00 AM
From: AugustWest	Read Replies (1) \| Respond to of 10027

Study: Online trading still developing May 14, 1999 ZDNN : Dataquest finds that only 4.5 million of 15 million wired investors buy or sell online. By Margaret Kane Anyone who follows the stock market can be forgiven if they get the impression that day-traders are taking over Wall Street. Online investors have been cited as the cause for the volatile nature of tech stocks, and were even listed as a reason the USA Networks Inc.-Lycos Inc. merger fell apart. But a new report from research firm Dataquest says that while Americans are going online to track their portfolios, the phenomenon of online trading is yet to become universal. The study found that while 15 million Americans participate in online investment activities -- such as tracking their portfolios and getting information -- only 4.5 million actually buy or sell online. And of those who do go online, on average only 6 percent spent more than an hour a day online. 138 percent growth rate But the number of online users should take off, even if overall Internet usage growth slows down, the firm said. In fact, the number of people trading online has grown 138 percent from September of 1997. And once they start trading online, they quickly pick up the pace. The study found that the consumers doubled the number of trades they conducted per month once they opened an online account. "Ease of use and low commissions are the major motivators. People are confident in trading online," senior analyst George Barto said. The research firm also studied online banking and bill payment, and found an even greater adoption of the Internet. The adoption may require more attention from banks and financial institutions to the way that they market their services. For instance, the study found that while women take care of bill payment in the majority of American households, men are more likely to take over the task if the bills are paid online. Dataquest also determined that access was the key reason consumers moved their banking activities online. "What's concerning to us is that this message of anytime and anywhere access in selling product to consumers has been overlooked by banks and financial institutions," Barto said. "That is the major message you want to get across as you shift people to this channel." <<ZDNN -- 05-13-99>> [Copyright 1999, Ziff Wire]