May Day

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May Day

The date of May 1, 1975, after which brokers were allowed to charge any brokerage commission, rather than a mandatory rate.

May Day

1. Informal; the first date on which brokerages were allowed to charge commissions below the previous minimum commissions. On May Day, brokers were permitted to negotiate commissions directly with clients for the first time. May Day occurred on 1 May 1975.

2. A holiday for workers that occurs on the first of May. May Day is a significant day for leftist groups and other proponents for the working class. It is more commonly celebrated in Europe than in the Americas. See also: Labor Day.

May Day

A widely used reference to May 1, 1975, the date on which brokerage commissions on securities became negotiable. May Day ushered in discount brokerage firms that charge investors reduced fees.
References in periodicals archive ?
The Tule Lake Relocation Center in Northern California hosted a particularly unusual display of patriotism on Labor Day 1942--the residents were Japanese Americans whom the US government had recently forced out of their homes to live in guarded camps, fearing they might collude with the enemy.
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The Laborfest Labor Day parade will begin at Michigan & Trumbull and end at the UAW Ford Programs Center, located at 151 West Jefferson, Detroit, MI.
It is of some interest to look at the relationship between the Gallup Poll numbers for the leader immediately after Labor Day and the winner on Election Day.
But Appelbaum said the decision was fully consistent with the spirit of Labor Day.
By Labor Day, the illusion of permanence no longer can be sustained.
The North Fork summer rental market also got off to a slow start this year, but there has been more demand for July 1 through Labor Day properties," stated Suzanne L.
Furniture retailers are banking on aggressive Labor Day promotions to drive sales for the key holiday weekend -- and set a positive tone headed into the key fourth-quarter selling season.
So, Labor Day 2002, Lessiter took the plunge and dropped 113,000 pieces of a combined package offering both the newsletter and a mini-catalog offering some 35 different special report titles.
And how about the summer businesses that lose valuable employees before a critical Labor Day weekend?
Hundreds of union members and their families are anticipated to arrive at Alameda Point in Alameda for a Labor Day picnic on Monday September 3.