21.   A new clearing system will reduce high transaction costs, New funds will give investors new vehicles for entering the market.

22.   Accion banks must process a high number of tiny loans, each time incurring a separate transaction cost.

23.   All figures ignore dividends and transaction costs.

24.   Businesses would welcome the currency stability and reduced transaction costs that come with EMU membership.

25.   But that means it lowers transaction costs within organizations as well as across organizations.

26.   But that was offset by the fact that transaction costs were not factored in.

27.   Buying fewer stocks results in lower transaction costs.

28.   Coase argued that reducing transaction costs helped explain why companies exist in the first place.

29.   Commissions in Japan are essentially fixed and transaction costs are high.

30.   Explaining the change, Vanguard said that short-term investments make it difficult to maintain a competitive yield and result in heavy transaction costs for the fund.