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Securities industry revenue dropped 36% in 2008

Malcolm Carter

Fri, 18 Dec 2009 16:46:36 GM

It will come as no surprise to learn that revenues for . securities. , commodity contracts and other financial investment activities decreased 36.1 percent in 2008, from $464 billion in 2007 to $297 billion in 2008, according to new data ...

Is there a cost to acat transfers securities from one broker to another? Who charges it?
Q. I want to transfer my securities from etrade to another broker. Is there generally a fee associated with this? If so, who would be charging it- etrade, the new broker, or both? Also if you know how much it is please include that in your answer. Thanks.
Asked by John - Sat Jul 11 02:27:39 2009 - - 1 Answers - 0 Comments

A. Securities brokers have a process called ACATS (Automated Customer Account Transfer Service) that is managed by the NSCC (National Securities Clearing Corporation) for moving open positions and cash from one broker to another. An ACATS transfer essentially takes your account from one broker and replicates it, including your open positions, with another broker. Your old broker can charge you for initiating an ACATS process. Most of the time this fee is between $50-$100 per account. However, this may not be an issue at all. Keep in mind that your new broker wants your business. It is very likely that they will reimburse you for this expense but you have to ask for it. Don't hesitate to find out whether they will cover these costs for you.
Answered by Kylash - Sat Jul 11 02:40:06 2009