Online brokers hit again amid HFT hubbub

|By:, SA News Editor

Running through the numbers, Goldman estimates E*Trade (ETFC -3.9%) makes about $92M per year in payment for order flow (PFOF), equating to $0.17 in EPS, or 15% of 2015 estimates.

TD Ameritrade (AMTD -2.8%) isn't as clear with the numbers, but based on DARTs and extrapolating E*Trade's numbers, Goldman estimates about  $0.23 in EPS, or 14% of 2015 estimates.

Schwab (SCHW -2%), says Goldman, has about $0.08 EPS exposure to PFOF, or 7% of 2015 consensus.