30 Years of Canadians Taking Control of Their Investments

Written by The Content Team

What a difference 30 years make!

Just imagine: In 1989, DIY trading involved calling in for a quote and dictating your order. Off your request went, first scribbled on a form, then entered into a green screen computer and spat out to the exchange via a dot matrix printer (can't you just hear that ee-rr-ee-rr sound?), then shouted by a trader at the top of his voice, and so on.

If this sounds labour intensive, consider what would have led up to your call. Knowing what stock you wanted to buy and at what price meant scouring the newspaper, reviewing hefty financial reports and trips to your local library.

Today, all the information a self-directed investor needs is always at hand (literally, thanks to smartphones), and placing a trade only takes a few clicks.

In creating our “Then & Now” video to commemorate RBC Direct Investing's 30th anniversary, we dug through archives, watched original footage, interviewed the people who were there at every turn, scoured the web (of course) – and totally geeked out along the way. A lot has changed for DIY investors in the three decades since the service got its start in the fall of 1989.

For instance, did you know that securities were traded in fractions before the decimal pricing we now see? That's right, Canadian stock prices used to be quoted as fractions to the nearest eighth. Plus, Canada led North America in the move to “decimalization" in the mid-'90s. And how about stock certificates? The oldest one dates to 1606, but by 1989 that concept hadn't really changed. Holding a stock still meant holding a piece of paper.