Severalonline brokers saw daily average revenue trades grow year over year in February,but monthly total client asset results were negative for most of them.
recordedthe only double-digit year-over-year increase in DARTs during the period. DARTsrose 21.17% to 767,000 in February from 633,000 a year ago.
Postingmore modest increases were TD AmeritradeHolding Corp., which saw DARTs grow 4.54% to 507,000 from 485,000 inthe prior-year period, and TradeStationGroup Inc., which posted an improvement in DARTs of 4.42%, to 138,033from 132,185 in February 2015.
experiencedan 8.55% drop in DARTs on a year-over-year basis, to 164,077 from 179,420 in thesame period a year earlier.
, which does notreport DARTs on a monthly basis, reporteddaily average revenue trades of 285,000 in the fourth quarter of 2015, comparedwith 304,000 in the third quarter of 2015 and 315,000 in the year-ago quarter.
In termsof total client assets, Interactive Brokers was the only broker that saw a year-over-yearincrease at 9.62%.
E*TRADEsaw the biggest fall in total client assets with a year-over-year decline of 11.83%,while TradeStation saw a 5.36% decrease. TD Ameritrade and Charles Schwab recordedmore moderate year-over-year decreases in monthly total client assets in Februaryat 3.41% and 3.85%, respectively.
SandlerO'Neill & Partners analyst Richard Repetto in a March 8 note reiterated his"buy" rating on TD Ameritrade, saying that its trading metrics matchedhis forecasts and that client balances were better than expected in February. Theanalyst added that the company's March-to-date trading activity exceeded expectations.In a March 14 note, Repetto said he calculates Charles Schwab's February DARTs tohave declined 13% month over month, adding that the company underperformed the peeraverage.
Click here to access the underlying data in an Excel spreadsheet.