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Strategies & Market Trends : The Final Frontier - Online Remote Trading

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From: TFF	11/16/2004 3:37:14 PM
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Schwab takes lead in online trading BY VIRGIL LARSON WORLD-HERALD STAFF WRITER Ameritrade has lost its title as the largest-volume online brokerage. Charles Schwab reported higher average daily trading volume than Ameritrade in October, the third consecutive month it topped the Omaha broker. Schwab had 153,700 trades a day in October, and Ameritrade had 145,000. E-Trade, the third-biggest, reported 123,112. Trading at all three brokerages was below the levels of October 2003. Ameritrade's average in October last year was 25,000 trades higher than last month's. Strong markets drove trading at all three companies to peak in January and again in April, then decline. Schwab cut its prices in June and reversed its volume slide in July. Ameritrade and E-Trade turned around in September. Schwab cut prices again in early October. Ameritrade Holding Corp. became the largest volume dealer when it acquired Datek Online Holdings Corp. in September 2002. Ameritrade had a net gain of 62,000 accounts in October, 45,000 of them acquired from JB Oxford & Co., and at the end of the month had 3.58 million customers.

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