real-time news and commentary for investors
Monday, Sep 16
Schwab reports increased brokerage activity
- Daily average trades of 467.3K fell 6% vs. July, but gained 24% Y/Y. Unlike the other brokers, Schwab doesn't break out DARTs in its report, but the press release says they were up 2% sequentially in August. E*Trade reported a 5% gain, Ameritrade reported up 2%.
- In other news, Schwab (SCHW) will consolidate its two retirement plan recordkeeping technology platforms, and resign from providing recordkeeping to certain unprofitable retirement plans.
- Shares +0.9% premarket, inline with a broad rally (ETFC +1.1%).
- Press release.