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Shares of Charles Schwab (SCHW) - Get Charles Schwab Corporation Report were higher after the brokerage firm said January's daily trades averaged 334,000, up 62% from a year ago and 37% from December.

Net new assets brought to the company last month totaled $9.5 billion. Schwab was gaining 67 cents, or 4.6%, to $15.11.

Knight Capital Group


was up after it said the dollar value of average daily trades in January rose 26.1% from December and 29.9% from the same month last year to $9.97 billion.

Average equity trade volume of 1.0 million was up 24.2% from December and 19% from January 2005. Average equity share volume fell 44.8% last month vs. a year ago. Share volume rose 39.2% from December, the market maker said. Knight was gaining 27 cents, or 2.2%, to $12.34.

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The OCC gave the green light to the conversion of Western Financial Bank from a federal savings association to a national banking association, and was the last remaining regulatory approval needed for the merger. Wachovia was up $1.29, or 2.4%, to $55.73.