Online trading soars in Q3
05 November 2003 | 2968 views | 0
Online stockbrokers are reporting a record number of clients and a 19% increase in business for the third quarter - which is traditionally one of the quietest seasons for share dealing.
According to market research by Compeer, the number of clients rose to 462,000 in Q3 2003, while private client trading volumes rose by 15.4% on the previous quarter.
There were 850,000 online trades in the quarter - the highest since the 940,000 online trades conducted in Q1 2000 at the height of the technology boom.
Online trading accounted for more than one-third (36.4%) of all execution-only trades.
Angela Knight, cheif executive, the Association of Private Client Investment Managers and Stockbrokers (APCIMS), says: "This is a major vote of confidence in the market and a welcome indicator that the fallout from the technology boom-and-bust of three years ago has finally dissipated."