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Ameritrade CFO: Co Averaging 406,000 Trades A Day In Oct

By Brett Philbin, Of DOW JONES NEWSWIRES

NEW YORK -(Dow Jones)- TD Ameritrade Holding Corp. (AMTD) Chief Financial Officer Bill Gerber said the online broker is averaging 406,000 client trades per day so far in October.

During a conference call with analysts, Gerber said TD Ameritrade's 411,000 client trades per day in its fiscal fourth quarter, which ended Sept. 30, were the highest in the company's history.

TD Ameritrade Chief Executive Fred Tomczyk attributed the higher volumes to " enhanced education programs, risk-management tools, new product alternatives for traders and quality execution that help give clients the confidence to trade in a difficult market."

Tomczyk said option trades accounted for 18% of TD Ameritrade's total trades in the fourth quarter. Earlier this year, TD Ameritrade completed its acquisition of options broker thinkorswim Group.

Tomczyk said TD Ameritrade would pursue acquisitions in the future if they make "strategic sense" for shareholders. The company has previously expressed interest in the brokerage operations of E*Trade Financial Corp. (ETFC).

Earlier Tuesday, TD Ameritrade reported a fiscal fourth-quarter profit of $ 156.7 million, or 26 cents a share, down from $172 million, or 29 cents, a year earlier. Revenue increased 1.3% to $657.9 million.

Shares of TD Ameritrade were flat at $19.48 in premarket trading.

-By Brett Philbin, Dow Jones Newswires; 212-416-2173; brett.philbin@ dowjones.com

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