|
|
Article: Zecco to limit free trades.(Short Interests)
- Article from:
- Investment News
- Article date:
- October 22, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: Aaron Siegel
Zecco Holdings Inc., a provider of online securities trades, will cap the number of free trades that it offers and reinstate a minimum balance.
In an about-face, the Burlingame, Calif., company said that it will set its minimum account balance back to $2,500 after eliminating its account minimum balance in June (InvestmentNews, June 6). The new requirements will go into effect Jan. 1.
"Increasing the minimum account size allows us to make incremental investments in our trading platform,'' said Gabriel Dalporto, a Zecco spokesman.
He added that the intent of the May price cut was ...