BMO analysts David J Chiaverini and Richard Fellinger examine the current trends prevailing in the diversified financials industry in their report of October 31, 2013.
October trends good for discount brokers
The BMO analysts have ascertained that daily average revenue trends (DARTs) at discount brokers were running higher in October by about 7% on a sequential quarter basis and +28% on a year-on-year basis. Historical seasonal patterns, as well as the normally higher volumes due to earnings reporting, corroborate this trend.
Market volumes computed through 10/29 show that daily cash equity volume was up 2% both on monthly as well as year-on-year...
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