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Big January for Knight, Schwab

Both see jumps in the value of shares traded.

Charles Schwab



Knight Capital Group


both reported sharp increases in trading volume in January vs. both the previous month and the same period last year.

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Discount broker Charles Schwab said Tuesday that average daily trades in January were 334,000, up 62% from a year earlier and up 37% from December 2005.

The company brought in $9.5 billion in assets from new and current clients, making total client assets $1.246 trillion, up 17% from January 2005 and up 4% from December.

Meanwhile, Knight, one of the largest


trading execution firms, said Monday that the dollar value of average daily trades rose sharply in January. The average dollar value of shares traded was up 26.1% from December and 29.9% from January last year to $9.97 billion.

Average equity trade volume was up 24.2% from December to 1.0 million, a 19% increase from the same period last year. But average equity share volume was down 44.8% in January from the same period last year to 3.39 billion. Share volume increased 39.2% from December.

"Overall equity volumes rose alongside the major indices in January," said Knight Capital's Chairman and Chief Executive Thomas M. Joyce in a release. "Investors returned to the markets after a cautious December, however, the uncertainty of the past few years has proven that January performance is no longer an indication of future trends."