Going Broke in Stocks; Equity Trading  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 407 no. 8835 (May 2013), page SS10-SS11.
Topik: International Banking; Equity; Business Conditions; Investment Policy; Brokers; Market Strategy; Stocks

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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In April 1859 a revolution of sorts swept through Paris, or at least its bourse. At the instigation of the market's regulated brokers, about 20 unlicensed stockbrokers (coulissiers) were arrested and had their papers seized. But the blue-blooded agents de change of the Paris Bourse found themselves under attack from their clients, who wanted to continue to do business with the unlicensed brokers. Not only were they cheaper, but they could take risk and make markets instead of simply matching buyers and sellers. The affair caused such a commotion that the government got frightened, a correspondent reported at the time. Within days the unregulated brokers were freed. Scraps between well-heeled established brokers and enterprising interlopers are as old as trading markets themselves, but competition in share trading has probably never been as fierce as it is today. Since 2007 the revenue generated by trading shares has fallen consistently in every year bar one. Equity trading, once a mainstay of investment banking, now makes up less than a fifth of the industry's revenue and an even smaller share of its profit.

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