Ameritrade Opens 40,000 New Accounts, Volume Climbs 22% in November - TheStreet

Ameritrade (AMTD) - Get Report opened 40,000 new accounts in November and also saw 22% growth in daily trade volume during the month, the company reported today.

The online brokerage opened 31,000 new accounts in the same period in 1999, also said it opened 82,000 new accounts so far in the quarter, up 46% from 56,000 new accounts opened in the same period last year. At the end of November, the company had 1,307,000 open accounts.

Ameritrade also reported average daily trading volume during November of 101,000 trades per day, compared with 83,000 trades per day in November 1999. The company said it averaged 108,000 trades per day for the first two months of fiscal 2001, up 59% from 68,000 trades per day during the same period last year. Fiscal 2000 ended on Sept. 30, 2000.