Electronic Commerce and Financial Services: Going for Broke
From every perspective, growth in online investing is astounding. Online transactions are estimated to comprise approximately 25% of all brokerage transactions. Assets held in online brokerage accounts grew to over $420 billion by the end of 1998.2 The number of online brokerage accounts continued their rapid climb, more than doubling from the end of 1996 to 3 million at the end of 1997 and then again to over 7 million by the end of 1998.3 The average daily transaction volume doubled from approximately 150,000 in the fourth quarter of 1997 to over 330,000 in the fourth quarter of 1998.
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