May Day

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Dictionary Says

Definition of 'May Day'

Refers to May 1, 1975, when brokerages changed from a fixed commission for securities transactions to a negotiated one. Previous to this, commissions were standard from broker to broker.
Investopedia Says

Investopedia explains 'May Day'

At the time, the majority of Wall Street felt that these changes would have little effect on their commisions. However, shortly after the switch, Charles Schwab pioneered what are now known as discount brokerages, which charged much lower fees, and in some cases none at all - known as no-advice accounts. As a result, the number of individual investors expanded greatly. This was the first step in the creation of the discount brokerage houses that we know today.
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'May Day'

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    ... During this part of the day, traders may be trying to close some of their trades,
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  • Student Loan Deferment: Live To Pay Another Day

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    ... runs away may fight again." Over the centuries this line has been translated to
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  • How To Spend Valentine's Day On A Budget - Investopedia.com

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    ... Could September Be D-day For The Euro? Posted ... investment. However, in reality
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  • Dividend Facts You May Not Know

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    ... involved in the paying and receiving of dividends that the casual investor may not
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    ... defended this structure and discussed its operational strategy at a recent analyst
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  • Financial Physics: "Natural" Market Laws

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    ... Following May Day, the business models for most brokerages changed from
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