soon this will be replaced with DEX and these trading houses will be replaced with knowledge markets.
Billions Lost: Here's How Much E-Trade, Schwab and TD Ameritrade Are Losing From Slashing Trading Fees
As the race to the bottom continues, slashing trading fees will eliminate billions of dollars of revenue for discount brokerage firms, although some may be better positioned to weather the impact. • Charles Schwab—the first to nix trading fees last week, followed by E-Trade and TD Ameritrade—estimated it would lose $360 million to $400 million of annual revenue. Commissions make up 7% to 8% of its total business. • At TD, trading fees still make up a large part of its business, estimated at $220 million to $240 million per quarter, or around 15% of overall revenue. • E-Trade relies on commissions for ... (full story)