Mechanics of Change

J. Dundas Hamilton

Chapter 2 in Stockbroking Tomorrow, 1986, pp 20-39 from Palgrave Macmillan

Abstract: Abstract In September 1983 the Senior Partners of all Member Firms were approached by the Chairman and asked to comment on the way in which fixed rates of commissions might be removed. He suggested a number of alternatives: to introduce negotiated rates by class of security (e.g. overseas securities, traded options, gilts etc.) to follow the US example, where commissions on larger bargains were reduced in stages, phased by the size of the transaction, until all commissions were at discretion to introduce upper and lower bands of negotiated commission, leaving a central band of fixed rates, and increasing the band widths in stages until they met. a gradual annual reduction of scales throughout the period to December 1986. permission to offer discounts against the present rate, the percent-age discounts increasing in three stages to full discretion. a single specific date on which negotiated rates of commission ‘across the board’ would take place, now colloquially called the ‘Big Bang’.

Keywords: Stock Exchange; Institutional Investor; Member Firm; Compensation Fund; Unlimited Liability (search for similar items in EconPapers)
Date: 1986
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-03406-2_2

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349034062

DOI: 10.1007/978-1-349-03406-2_2

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().