Online Brokerages See Record Trading Volume in March

Back to Contents of Issue: May 2002

THE MARKET STOCK MARKET rally was a boon for online brokerages. "We are having record high trading volume days recently," Monex chief Oki Matsumoto (pictured) told J@pan Inc at the time. DLJdirect SFG and E*Trade also set single-day records for trading volume during the month, and the leading online brokerage, Matsui Securities, handled JPY46.7 billion in trading volume on one business day in March to set its own record.

The government's crackdown on short selling as the fiscal year came to a close helped the market rally, investors said. "The new rule cast some influence on the consensus of traders," Matsumoto said. "As Keynes said, the stock market is like choosing the winner in a beauty contest, and tastes can change quickly without a firm reason."

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