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.
KeywordsFinancial Service Mutual Fund Electronic Commerce Individual Investor Brokerage Service
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