Industry Action That Led to the Creation of Discount Firms

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Industry Action That Led to the Creation of Discount Firms

Some constructive changes were brought about several years later, after a more thorough and proper period of analysis and testing. However, it should be noted that when negotiated commissions were finally adopted to replace fixed rates, the end result was as follows: Many smaller research firms were put out of business or forced into mergers with industry giants, commissions to institutions were immediately cut in half, and commission rates to individual investors were actually raised several times, thereby laying the foundation for the successful development of numerous discount brokerage firms.