Online brokers see big jumps in trading volume

11/14/2008 | Bloomberg

Charles Schwab, TD Ameritrade and E*Trade are handling more trades as investors pull out of mutual funds. Charles Schwab, the largest publicly traded U.S. online broker, is expected to report that trading was up 35% in October from a year ago. "What you see now is very savvy active traders, who use different strategies in a volatile market, and you also see investors with a long-term approach rather than chasing the latest fad," said Patrick O'Shaughnessy, an analyst with Raymond James Financial.

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