Market participants include individuals retail investor, institutional investor such as mutual funds, banks, insurance company and hedge funds, and also publicly traded corporation trading in their own shares. Some studies have suggested that institutional investor and corporation trading in their own share generally receive higher risk adjust returns than retail investor.
A few decades ago, most buyers, and sellers were individual investor, such ass wealthy business, usually with long family history to particular corporation. Over time, market had become more buyers and sellers are largely institutionsinvestor groups, banks and various other financial institutions.
The rise of the institutions investor has brought with it some improvements in market operations. There has been a gradual tendency for " fixed" fees being reduced for all investor, partly from falling administration costs but also assisted by large institutions challenging brokers, approach to setting standard fees. current trend in stock marketinvestors includes the decrease in fees due to computerized assets managements termed within the industry.