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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: TheStockFairy who wrote (59512)	5/17/1999 1:05:00 PM
From: accountclosed	Respond to of 132070

Schwab doubles trades in April, has 6 mln accounts SAN FRANCISCO, May 17 (Reuters) - Charles Schwab Corp. (NYSE:SCH - news), the nation's largest discount and Internet broker, on Monday said it processed a record number of trades in April, as the U.S. stock market surged 10 percent. Schwab, which now has 6.1 million active investor accounts, processed a record 207,700 trades a day in April, up 34 percent from March and more than double the number a year ago. The brokerage, however, said in a statement that trading volumes in May trailed off to March levels. ''Our customers were extremely active during April, and trading volumes easily surpassed the previous record set during January 1999,'' Schwab President David Pottruck said. ''Customer trading activity to date in May, while still strong, is more comparable to March 1999 levels.'' Schwab's frenetic trading activity was reflected by a surge in the U.S. stock market. The Dow Jones Industrial Average, the market's main gauge, rose 10.2 percent in April and recently crossed the 11,000 mark. Schwab's customers put a net $5.7 billion into their accounts in April, bringing the brokerage's assets under control to $564 billion. At the end of March, Schwab had 5.9 million accounts with $542 billion in assets. biz.yahoo.com