Fidelity Brokerage Services, Inc. Announces 43% Increase In Number Of Accounts Trading Online.BOSTON--(BUSINESS WIRE)--Nov. 25, 1997--Fidelity Brokerage Services, Inc. announced today that it has seen a 43 percent increase in the number of accounts using its online trading Online Trading Making trades via the Internet. Notes: The use of online trading increased dramatically in the mid to late 1990's with the advent of high-speed computers and Internet connections. Stocks, bonds, options, futures, and currencies can all be traded online. services since reducing online stock commissions for active traders to as low as $14.95. "These results support our premise that investors are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. the best value," said Robert Mazzarella, president, Fidelity Brokerage Services, Inc. "Investors are no longer defining value based on price alone but on a number of criteria, including a firm's reputation, products, service and access to investment information. Fidelity delivers on all counts by offering a comprehensive package that provides investors access to a full suite of products and services usually expected from a full-service broker Full-Service Broker A broker that provides a large variety of services to its clients, including research and advice, retirement planning, tax tips, and much more. Of course, this all comes at a price, as commissions at full-service brokerages are much higher than those at discount , at discount broker prices." The new $14.95 commission schedule applies to qualifying accounts of active traders who place trades for stocks online through www.fidelity.com or through Fidelity On-line Xpress+ trading software. Active traders are those customers who make at least 36 stock, bond or option trades per year and maintain a minimum balance of $20,000. For customers who trade less than 36 times per year, a new commission rate starting at $19.95 for online stock trades, became effective on October 30 (1). This price cut represents over a 30 percent discount from the previous $28.95 rate. The advertising campaign supporting this offer launched on November 13. "Although we have only just announced the availability of the $19.95 offer for our customers who trade less than 36 times a year, we anticipate as great a response as was generated through the $14.95 announcement with our active trader customers," said Mazzarella. About Fidelity Brokerage Services, Inc. Fidelity Brokerage Services, Inc. offers some of the most comprehensive and competitively priced discount brokerage A discount brokerage is a business that charges clients significantly lower fees than traditional brokerages, typically offering comparatively fewer services and/or advice. services in the industry. These include access to IPOs and other public offerings as well as a full range of individual securities, FundsNetwork with more than 3,300 funds; substantial commission savings on all trading services; low margin rates; access to extensive independent research; a variety of cash management services; and consolidated statement reporting. Customers can choose from several electronic channels to conduct business with Fidelity including www.fidelity.com; Fidelity On-line Xpress+ trading software; automated telephone service or through a telephone representative. About Fidelity Investments Fidelity Investments is a group of privately held companies in the financial services industry. It is made up by two independent but closely cooperating companies, Fidelity Management and Research Corporation (FMR Co. Fidelity Investments is the nation's largest mutual fund company and one of the leading providers of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . Fidelity offers investment management, retirement, brokerage and shareholder services directly to individuals and institutions, and through financial intermediaries Financial intermediaries institution that provide the market function of matching borrowers and lenders or traders. . The firm also is the No. 1 provider of 401(k) retirement savings plans, the second largest discount brokerage firm discount brokerage firm A brokerage firm that discounts commissions for individuals to trade securities. Most discount brokerage firms offer limited advice but reduce their fees by 50% or more compared with full-service brokerage firms. and the third largest provider of 403(b) retirement plans for not-for-profit institutions in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . At October 31, 1997, Fidelity had total managed assets of $583.8 billion. -0- For more complete information on any fund available through Fidelity, including charges and expenses, please call 1-800-544-8888 for a free prospectus. Read it carefully before you invest or send money. -0- (1) For stock trades placed online via the Fidelity Web Xpress or Fidelity On-line Xpress+ in qualifying accounts of active traders, the base rate is $14.95. The base rate for stock trades placed online for other retail customers is $19.95. For equity trades up to 1000 shares, pay the base rate. For trades between 1,001 and 4,999, pay the base rate plus $.03 for each share over 1,000. For trades of 5,000 shares or more, pay the base rate plus $.02 for each share over 1,000. For shares priced under $1, pay the lesser of the rate as calculated above or 3% of principal, subject to a minimum commission equal to the base rate. There is a $3 premium per trade for limit and stop orders. The premium is waived until 12/1/97 for Spartan Active Traders and does not apply to Spartan Gold Circle customers. Active traders refer to those customers whose accounts qualify for Spartan Trader pricing or Spartan Gold Circle pricing. To qualify, customers must make at least 36 or 72 stock, bond or option trades per year respectively, and maintain a minimum account balance of $20,000. Fidelity Brokerage Services, Inc. Member NYSE NYSE See: New York Stock Exchange , SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . CONTACT: Fidelity Investments Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. , 617/563-5800 |
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