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May Day |
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May Day Refers to May 1st, 1975, when brokerages changed from a fixed commission for securities transactions to a negotiated one. Notes: Previous to this, commissions were standard from broker to broker. The elimination of fixed minimum commissions, saw the advent of discount brokerages which offer lower fees but no investment advice.May Day The date of May 1, 1975, after which brokers were allowed to charge any brokerage commission, rather than a mandatory rate.
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They were allowed to choose any date for the creation of a new national holiday in recognition of International Labor Day. The next day Mubarak used a speech marking International Labor Day to cover up his tracks and embarrassment by claiming he said a "semi-agreement" had been reached "in principle," and accusing the Israelis of trying to drive a wedge between Egypt and the Palestinians. |
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International Labor Day
