CPU settles share transactions
http://www.theaustralian.news.com.au/common/story_page/0,5744,4469100%5E462,00.html --------------------------------------------------------------------- Retail brokers report surge in trading --------------------------------------------------------------------- June 08, 2002 --------------------------------------------------------------------- RETAIL stockbrokers have experienced a bounce back in trading as investors put the shock of September 11 well behind them. --------------------------------------------------------------------- Major players such as Commonwealth Securities, E*Trade and TD Waterhouse suffered a drop-off in trading late last year amid the fallout from the terrorist attacks in the US. --------------------------------------------------------------------- The three brokers say trading increased significantly in January and February then tailed off slightly, but remains strong. --------------------------------------------------------------------- CommSec, Australia's biggest retail broker, has put on an extra 50 staff since Easter to cope with the increase in demand. The broker had axed 35 jobs in October last year during the trading slump. --------------------------------------------------------------------- CommSec's chief manager marketing Stephen Mildred said the broker was now averaging about 11,000 trades a day, compared with 7000-9000 in the October slump. --------------------------------------------------------------------- Managing director of discount broker TD Waterhouse's Australian operations Karen Buck said there had been a jump in the number of people opening trading accounts. --------------------------------------------------------------------- The broker has 140,000 active traders. --------------------------------------------------------------------- Online broker E*Trade said its customer numbers were about to hit an all-time high of 100,000. --------------------------------------------------------------------- Head of marketing Richard Burns said more people were being attracted to online trading because of its convenience and the trend was expected to continue. ---------------------------------------------------------------------
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