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 ?
ALERT: Solicitor Angela Protheroe of Harding Evans recommends employers should protect their position on workers' holiday pay
The marches on the traditional May Day workers' holiday were the culmination of nearly two weeks of public protests following Le Pen's stunning showing in the election's first round.
Within a few years, 30 more states added the workers' holiday as an official celebration.
THE workers' holiday on May 1 features a Newcastle ale trail.
Traffic congestion is a frustrating reality of life in Rio de Janeiro, but a minimum reduction of 35 per cent is expected for August 5-21 due to school and workers' holidays.
Thanks to rush orders, however, the makers now tend to cancel production-line workers' holidays.

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