NEW YORK The percentage of online stock trades driven by broker recommendations will skyrocket as obstacles to wireless e-commerce are resolved in the next few years, Jupiter Media Metrix predicts.
Even by 2006, only about 3% of all online trades will be initiated through mobile Internet services, the consulting firm predicts. But 100 million online trades 13% of all Web trading that year will have been prompted by brokers wireless e-mail and promotions, Jupiter says.
That rise in responsive trades will be a radical change in the way investors manage their wealth, according to a Jupiter report issued this week.
The online trading field is now wide open for reputable brokers and dealers to use secure wireless and e-mail technologies to encourage their customers to make responsive trades, said senior analyst Robert Sterling. Responsive trading will be the premiere customer-facing wireless brokerage application.
Wireless brokerage transactions will drive about $1 billion of commission revenues, or 17.6% of all online trade commission revenue, in 2006, Jupiter said. Over 80% of wireless trading revenue will be from traditional full-service brokerage activity, it said.
