(November 4 -11:15 ET) —
The U.S. securities industry
continues to post impressive
results. It is on track to book
US$12 billion of pre-tax profits.
That’s a 22% year-over-year
increase, according the Securities
Industry Association. The SIA
released the results today at its
annual meeting in Boca Raton.
“Our industry’s success is
directly attributable to our
willingness to embrace change,
adapt, and stay on the leading
edge of new developments to better
serve our customers and help
them to exploit new opportunities,”
says Marc Lackritz, SIA
president.
Here are some SIA facts and
figures regarding securities
business growth during the 1990s:
• In 1990, US$538
billion in capital was raised.
This year that should top US$2.65
trillion.
• Total annual trading
volume on U.S. stock markets is
up 480% since1990.
• This year’s projected
US$12 billion in gross profit far
outstrips theUS$162 million loss
recorded by the industry in 1990.
• Although almost
50% of Americans now own stocks,
foreign investors are now the
single largest purchasers of U.S.
securities. Foreigners will buy a
total $265 billion worth of U.S.
securities in 1999,up from US$18.6
billion in 1990; compared to US$185
billion for mutual funds, and
US$170 billion for insurers.
-IE Staff
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