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Rapid growth for online traders

By Dominic Maher

Published: Wednesday 09 June 1999

Research by Credit Suisse First Boston (CSFB) found that online trading has grown by nearly 50 per cent between the last quarter of 1998 and the first of 1999.

With 15 per cent of all trading done via the Web, figures show that online brokers now handle 500,000 deals each day - compared to under 100,000 a day two years ago.

Paying an average of $15 per trade, the top five Internet brokers, which include Datek Online, Charles Schwab and E+Trade Group, now hold a 71 per cent market share.