"Bahrain Securities, launched 10 commission-free times a year, more than 10 times, only one thousandth of the transaction commission, a new record for the lowest commission in the British securities industry!"

"The Bank of Bahrain has been resurrected, and its subsidiary, Bahrain Securities, has attracted the attention of the whole market with the lowest commission. ”

"Bahrain Securities, launched a commission war, one thousandth of a commission, to turn securities trading from an expensive luxury to a game that ordinary people can also trade. Other securities companies in the industry said that the one-thousandth commission of Bahrain securities is just a gimmick, because it is necessary to trade through the Internet to obtain such qualifications, and there are only 300,000 computers connected to the Internet in the whole of the United Kingdom, even if one-tenth of these Internet users will become users of Bahrain Securities, Bahrain Securities will only obtain 30,000 securities customers at most, which is not enough to change the market pattern......

After the press conference of Bahrain Securities, the entire British financial market was hotly discussed.

Of course, the vast majority of my peers only regard Bahrain Securities as a grandstanding clown. Ten times commission-free, more than ten times only charge one-thousandth of a commission? How much money can a securities company make with such a commission?

The whole market is waiting, and if the market share of Bahrain securities continues to increase, then it may be that other securities companies will imitate it. However, if Bahrain Securities can't make much waves, then other securities companies will still maintain a high commission ratio.

……

2 April 1995.

Bahrain Securities Co., Ltd. officially launched its official website. The website provides free downloadable market software and trading client - "Bahrain Securities Market Trading Master"!

On April 3, more than 30 business outlets of the Bahrain Securities Company branch in the United Kingdom officially resumed business.

On the same day, the major outlets attracted more than 2,000 people to open accounts. The vast majority of users do not have too much net worth, but many of them are retail investors who have many years of experience in securities trading and like high-frequency trading. Most of these retail investors have average returns, and they have not been able to change their habits of high-frequency trading for many years, which is the main reason for the losses of these investors. Based on the current three-thousandth commission common in the British securities industry, the handling fee accounts for 30% of the total funds for hundreds of transactions a year. Therefore, the low commission has captured the pain points of many people.

After that, within a few days, the main work of the major business outlets of Bahrain Securities every day was to open accounts for the continuous influx of new users.

Although there are few high-net-worth wealthy people, in one week, it attracted 6,000 incremental users and brought more than 100 million pounds of incremental funds.

By mid-April, when Bahrain Securities had 10,000 clients, there were already 260 million pounds of funds held in custody in the securities company's account, and the securities commissions that could be earned each trading day had exceeded 100,000 pounds...... In addition, as more customers run out of commission-free times, the commissions that Bahrain Securities can collect will continue to skyrocket.

It can be said that the combination of securities trading with the Internet, for many investors, has almost turned the experience of securities trading into something similar to an online game. Every trading day is full of suspense. Although, it is never nothing more than ups and downs, either up or down, but because one rise and one fall is real wealth, many retail investors may be obsessed with it for life.

Any popular online game is nothing compared to the client of a securities company. Securities trading, a large-scale adult game, can make people obsessed for decades and a lifetime.

However, there are very few online games that can make people not get bored after ten years.

……

The number of users of Bahrain Securities is surging at a rate of one or two thousand per day, not only because of the attractiveness of low commissions, but also because the UK stock market is still in a bull market.

Since the low commission is limited to users who trade on the Internet client, many customers, after opening an account, quickly go to the market to buy Pangu computers.

The reason for buying Pangu computer is mainly because, the Pangu client of Bahrain Securities is more functional, and the PC client, whether it is the market, information, or the trading interface is more perfunctory, although, it also enjoys low commissions, but, in comparison, the client of the Pangu platform is better, and the purchase of computers is mainly used for stock speculation users, so it is natural to choose a better Pangu computer.

Because of the Bahrain securities factor, at least two or three hundred users in the UK buy computers and access the network every day, because, even if the cost of buying computers and networks is taken into account, Bahrain Securities, which has low commissions, is still more cost-effective than other securities companies.

The main reason why users are so generous is that it is too easy to make money in the current market. It is easy to earn, and you will naturally be generous if you feel that your investment can be used to earn better money.

In the case of a bear market in the securities market, it is estimated that not only the low commissions of Bahrain Securities will not attract many users. Moreover, it is even more unlikely that users will buy computers and open Internet services specifically for the purpose of stock speculation.

In the 90s, most of the global capital markets were in a long-term bull market, with very few exceptions such as Japan. Of course, the exception is the Japanese stock market, which began in the second half of '94, when Lisson speculated on Nikkei 225 stock index futures and was bullish on the Japanese stock market rebounding from the bottom. As a result, starting in 95, the Japanese stock market collapsed continuously, and Lisson's speculation failed, triggering the bankruptcy of the Bank of Bahrain.

If Lisson changes to a stock index futures, such as the Hang Seng Index and the British FTSE 100 Index, it may be another outcome.

Of course, if Lisson hadn't brought down the Bank of Baring, then Hang Seng Bank and the New Venture Department would not have been able to buy an established investment bank like the Bank of Baring.

The UK's FTSE 100 index was in a long bullish state from its inception in '84 until 2000. In '84, the benchmark point of the FTSE 100 was 1,000 points, and by 2000, it had risen to a peak of 6,950 points.

Between the mid-80s and the end of the 90s, the UK stock market skyrocketed 7-fold. Such an increase is obviously far overdrawn the future performance of these listed companies. Therefore, in 2000, the British stock market was at its peak, and after that, after 19 years, the British stock market returned to the index point of 2000. It can be said that in the first 20 years of the 21st century, the British capital market basically did not contribute to investors. The average negative return of the entire market, except because in the 90s, the world's mainstream capital market was generally in a bubble era.

After that, after the bubble was burst, it took 20 years for most countries to return to the previous level. With very few exceptions, for example, the U.S. stock market relies on attracting global capital, and the style of painting is fundamentally different from other markets in the world.

Hong Kong's Hang Seng Index is also a rare top student, because, in the mid-90s, the Hong Kong market began to introduce domestic companies to be listed in Hong Kong, and the Hang Seng Index began in the 90s, constantly incorporating more Chinese companies as constituent stocks, in particular, Tencent increased hundreds of times after listing, it can be said that Tencent has made the Hang Seng Index one of the few long-term bull indexes that can be compared with the Dow Jones and S&P 500 in the global stock market index.

And whether it is the long bull of the US stock market or the long bull of the Hang Seng Index. The main thing is the economy behind it, and the continuous growth has driven the growth rate of listed companies to be amazing. The bigger factor is that the economic growth of Japan and Europe and the United States is not good, and a single listed company cannot represent the economic trend, but the growth rate of revenue and profits of a basket of listed companies is basically synchronized with the economy.

Of course, later China's A-shares, a ten-year long bear, are actually nothing in the world. Even the U.S. stock market, which has been a high-performing student, has been bearish for several years, but the scale of the economy has grown since then, and sooner or later it will hit a new high. In addition to the devastation of war, the market that has not been able to get out of the bear market for decades is more because economic growth has also stagnated for decades.

./0_

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