Online brokerage firm
) reported an 8% rise in average client trades per day in its
Activity Report for the month of Oct 2013. Further, the U.S.
trades increased 27% on a year-over-year basis.
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For the reported month, average client trades per day were
420,000, up from 390,000 in the prior month and 330,000 in the
For the month, TD Ameritrade reported $573.9 billion in total
client assets, up 22% year over year and 3% from the prior month.
Moreover, average spread-based balances rose 16% year over year
to $790.0 billion. Further, these balances remained flat as
compared with the prior quarter.
At the end of October this year, average fee-based balances were
recorded at $128.1 billion, which surged 31% year over year and
3% from the last month.
Average client trades per day in the fiscal fourth quarter (ended
Sep 30) increased 16% year over year to 381,657. Net new client
assets were $10.1 billion, stable from the past year.
At the quarter-end, TD Ameritrade reported total client assets
worth $555.9 billion, up 18% year over year. Moreover, average
spread-based balance was $88.8 billion, up 17% from $76.2 billion
in the prior-year quarter. Average fee-based balance was $122.3
billion, up 31% year over year.
Innovations in online trading, long-term investment in products
and services, delivery of advanced customer service, creative as
well as cost-effective marketing and sales, along with prudent
expense management are TD Ameritrade's key strategies to boost
its trading and investing business.
Further, the company's association with
The Toronto-Dominion Bank
) provides an opportunity to cross sell its products. This is
expected to be a significant growth driver for TD Ameritrade's
Amid a volatile operating environment, TD Ameritrade witnessed a
rise in both organic client assets and trading volumes, which
bode well going forward. However, a low interest rate environment
and stringent regulations pose challenges.
At present, TD Ameritrade carries a Zacks Rank #3 (Hold). Among
other investment brokers,
) are expected to report their monthly metrics by the end of this