More stock trades migrate online

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Online trading accounted for 17% of all retail trades last year, more than double the share it accounted for in 1996, according to a new study by investment firm and equity researcher Piper Jaffray. Overall online trading volume rose 60% from the first to fourth quarter in 1997, with an average of about 153,000 trades per day during the fourth quarter. The study also showed that average commission rates from the top 10 online trading firms dropped by 54%, from an average of $35 in the last quarter of 1996 to $16 in the last quarter of 1997.

Copyright February 1998, Crain Communications Inc.

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