Onlinebrokers posted year-over-year double-digit decreases in their daily averagerevenue trades in August, while monthly client assets grew for all of themduring the same period.
recordedthe highest decease in DARTs year over year in August, with a drop of 34.8% to91,241 from 139,882 in August 2015. DARTs at Interactive Brokers Group Inc. fell 21.8% from a yearago to 576,000.
DARTsat TD Ameritrade HoldingCorp. decreased 20.9%, to 425,000 from 537,000 in the year-agoperiod. E*TRADE FinancialCorp. posted a decline of 20.0% year over year to 143,881.
, which doesnot report DARTs on a monthly basis, reported daily average revenue trades of 279,000 in thesecond quarter, compared with 328,000 in the first quarter and 267,000 in theprior-year period.
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Interms of total client assets, Interactive Brokers saw the highestyear-over-year increase at 27.9%. TD Ameritrade and Charles Schwab saw sloweryear-over-year total client assets growth, with increases of 12.7% and 10.1%,respectively. Assets grew 6.0% at TradeStation Group, while E*TRADE posted theslowest year-over-year growth in total client assets at 4.4%.
SandlerO'Neill & Partners analyst Richard Repetto in a Sept. 15 note reiteratedhis "buy" rating on Charles Schwab and maintained his EPS estimates,saying the company continued to see positive asset trends in August despiteweaker trading numbers. Similarly, the analyst reiterated his "buy"rating on TD Ameritrade and maintained EPS estimates in a Sept. 12 note, citingsolid asset growth in spite of a slight underperformance in trading.
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