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The average number of trades Ameritrade handled each day declined to 355,449 in the latest quarter as investors continued to worry about Europe's debt problems and the overall health of the economy. A year ago, Ameritrade handled 369,716 trades per day on average during the quarter. The slower trading activity reduced trading revenue 5.5 percent to $266.1 million from $281.6 million. Tomczyk said that Federal Reserve Chairman Ben Bernanke has done a good job managing monetary policy, but the economy needs political leadership and sound fiscal policy. "In tough environments, leadership is paramount," Tomczyk said. The current record-low interest rates limit how much Ameritrade can earn on its clients' deposit accounts and other investment products. Ameritrade said that net new client assets grew 9 percent to $9.7 billion, and at the end of the quarter it held $445 billion in total client assets. A year ago, it held $413.7 billion in client assets. Its asset-based revenue grew 2 percent to $378.7 million from $372.0 million. Ameritrade's operating expenses declined 2 percent to $413 million.
___ Online: TD Ameritrade Holding Corp.:
http://www.amtd.com/
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