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...mid-1968. The Division, subsequently, maintained constant pressure for the abandonment of fixed rates. SEC Report to Congress on The Effect of the Absence of Fixed Rates of Commission, Dec. 1, 1975, Exhibit 4. their transactions, measured both as commission as a percent of...

...securities commissions Millions of Dollars (May-August 1975) Source: Securities and Exchange Commission, Report to Congress on the Effect of the Absence of Fixed Rates of Commission (Dec. 1, 1975). Apoendix X B«KK EARNINGS ALSO APE LESS VOLATILE Hit UV Source: Blanchard...

...commissions '< tno.t Millions of Dollars (May- August 1975) Source: Securities and Exchange Commission. Report to Congress on the Effect of the Absence of Fixed Rates of Commission (Dec. 1, 1975). Apcendix X GS Al. 50 ARE LESS VOLATILE \/ v ms ua VI 70 71 72 73 nil ree:...

...mid-1968. The Division, subsequently, maintained constant pressure for the abandonment of fixed rates. SEC Report to Congress on The Effect of the Absence of Fixed Ra tes of Commission, Dec . 1^ 1975, Exhibit 4. their transactions, measured both as commission as...

...under the rate schedule applicable prior to May 1, 1975." Securities and Exchange Commission Third Report to Congress on: The Effect of the Absence of Fixed Rates of Commissions: August 10, 1976. /iPPENDIX TO STATEMENT OF SECURITIES INDUSTRY AUTOMATION CORPORATION (SIAC) ON COMPETITION...

...represent the exception. 4 See, for example, the Fifth Report of the Securities and Exchange Commission to Congress on "The Effect of the Absence of Fixed Rates of Commissions" (May 1977), at 1L In the past, such cross-subsidization has resulted in serious distortions in the...

...trades. Some data are available on the effects of competition on floor brokerage rates. The SEC's "Fifth Report to Congress on the Effect of the Absence of Fixed Rates of Commission," (May 26, 1977), reports that specialist limit order brokerage fees fell by 20 percent...

...9_/ The average commission rate paid by individual investors was only 1.6% in November, 1976. Fifth Report to Congress on the Effect of the Absence of Fixed Rates of Commissions at 6, May 26, 1977. 1JV NSCC's uniform charges would not, however, be so low that other clearing agencies...

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