• E-mail
• Print
• Comment
• Font Size
• Digg
• del.icio.us
• Discuss article

Scottrade Reports 64 Percent Jump in Second Quarter Trade Volumes

Posted on: Friday, 28 July 2006, 09:00 CDT

ST. LOUIS, July 28 /PRNewswire/ -- Scottrade, Inc., a leading online and branch-supported online brokerage, reported a significant increase in daily average revenue trades in the quarter ending June 30. As compared to the same period in 2005, Scottrade's average trades increased 64 percent to a daily average of 139,000 for the quarter.

In addition, Scottrade saw a 27 percent increase in the number of active accounts and a 32 percent increase in customer assets for the same period. The number of active accounts at Scottrade has grown to 1.55 million and Scottrade currently has $50 billion in customer assets.

"Investors and traders continue to choose Scottrade because of the overall value we provide to our customers," said Scottrade president and CEO Rodger Riney. "Our customers have continued to trade in the second quarter through Scottrade's three trading platforms, taking advantage of the many tools and services we offer."

Additionally, the firm opened seven new branch offices in the second quarter, for a total of 269 locations in the U.S. at the end of the quarter. Scottrade has plans for 10 more offices through September. The firm boasts the second largest network of branches among the online brokerage industry. New branch offices were opened in the following cities:

New City, N.Y. - April 3 Wilmette, Ill. - April 10 Grand Blanc, Mich. - April 17 Downtown Columbus, Ohio - May 8 Irving, Texas - May 15 Green Bay, Wis. - June 19 New Haven, Conn. - June 26 Scottrade was also the recipient of several awards during the quarter: -- Scottrade was named the first-place winner in the Online Brokerage Category of the 2006 Brandweek Customer Loyalty Awards powered by Brand Keys. Scottrade was ranked higher than all of its major competitors in a survey of over 16,000 consumers on the subject of customer satisfaction, loyalty and referral of new customers across 35 product and service categories. "Scottrade is excited to have received this award. It is a testament to the power of great service - if you reward customers with great service, they reward you with their loyalty," said Chris X. Moloney, Scottrade's Chief Marketing Officer. "Many of our new accounts are coming from our competitors and we are especially appreciative that our customers continue to refer their friends and family to Scottrade at a significant rate." -- Keynote's June 2006 Customer Experience Rankings for Brokerage Web Sites also found that Scottrade was one of the top two firms that delivered the best online experience to their customers for overall Web site satisfaction. -- It was also announced that Scottrade.com was ranked as the third most-visited financial Web site according to Hitwise, an online measurement company. The ranking is from the Business and Finance - Stocks and Shares category based on first quarter of 2006. Scottrade ranked ahead of all other online brokerage Web sites and was ranked third behind Yahoo! Finance (finance.yahoo.com) and MSN Money (moneycentral.msn.com). -- And lastly, Gomez, the Internet performance management company, recently ranked Scottrade No. 1 for the fastest online transaction speed for the period of June 24 through July 23, 2006. Scottrade's "Response Time Rating" on the Gomez Performance Index was more than two times faster than the industry average and significantly faster than any of the other online brokerages. "Transaction and Web site speed are very important to today's savvy investor. We're very pleased and honored to be recognized by Gomez for the industry-leading speed and performance of our Web site," added Moloney. For more information on Gomez Web performance ratings, visit http://www.gomez.com/ .

Below are the key performance indicators for Scottrade for April 1 through June 30, 2006. Second quarter 2005 figures are also provided.

Active Accounts: 1,552,000 (up from 1,224,000*)** Customer Assets: $50 B (up from $37.8 B*) Daily Average Trades Per Day: 139,000 (up from 85,000*) Employees: 1,593 (up from 1,349*) * Second figure represents performance in first quarter of 2005 for comparison. ** Please note that Scottrade reports active accounts. An active account is an account with a minimum of $100 in equity or at least one trade in the last 12 months. About Scottrade

Scottrade is a leader in online investing and is currently ranked Highest in Investor Satisfaction with Online Trading Services by J.D. Power and Associates ( http://www.jdpower.com/ ). The October 2005 announcement was the sixth consecutive time Scottrade has received the honor.

The firm serves individual investors who are comfortable making their own investment decisions. Scottrade is unique in the industry because it boasts very low commission rates while offering easily accessible, local branch office support of online trading in 273 locations nationwide. Scottrade.com is the online trading site of Scottrade and offers customers the convenience of placing orders online for just $7 per trade. For more information on Scottrade's three trading platforms, please visit http://www.scottrade.com/ , http://www.scottrader.com/ and http://www.scottradeelite.com/ . In addition to its online capabilities, Scottrade staffs each branch location with a licensed branch manager plus additional brokers and assistants.

About Brand Keys

Brand Keys, Inc., based in New York City, is a global research consultancy that specializes in customer loyalty, providing brand equity metrics that accurately predict future in-market consumer behavior and correlate highly with sales and profitability. Consumers were asked to assess how well brands met or exceeded their expectations, from which a measurement of their future loyalty to the brands was calculated. The Brand Keys survey accurately determines (95 percent confidence level) which products and services people will buy in the next 18 to 24 months.

About Keynote Systems

Founded in 1995, Keynote Systems (Nasdaq "KEYN") is the worldwide leader in services that improve online business performance and communications technologies. Keynote helps approximately 2,300 corporate customers and 10,000 individual subscribers become "the best of the best" online.

About Hitwise

Hitwise is the leading online competitive intelligence service. Each day, Hitwise monitors how more than 25 million Internet users interact with over 500,000 Web sites across 160 industry categories. By monitoring more people, more Web sites, more often, Hitwise provides marketers with timely and actionable marketing insights on how their online presence compares to competitive Web sites. Companies use this information to maximize the return on their online investment, in efforts such as affiliate programs, search marketing, online advertising, content development and lead generation. More information about the Hitwise Competitive Intelligence service is available at http://www.hitwise.com/ . For up to date analysis on online trends, please visit the Hitwise Intelligence-Analyst blog at http://weblogs.hitwise.com/ .

About Gomez

Gomez is the leading provider of Web application performance management solutions. Utilized by 500 companies worldwide, including eight of the top 10 most visited sites worldwide, six of the top 10 retailers, eight of the top 15 financial services firms, and four of the top 10 industrial companies, Gomez products and services help companies achieve and maintain peak performance of their Internet applications.

Founded in 1997, Gomez provides performance measurement, benchmarking, and competitive insight through 24/7 real-time alerting, problem identification, and Web site monitoring from over 12,000 locations worldwide.

Gomez is Network Computing magazine's "Editor's Choice" for best Internet performance monitoring service. For more information, please visit http://www.gomez.com/ .

Gomez, Gomez.com, Gomez Performance Network, and Gomez WorldView are trademarks and/or service marks of Gomez, Inc. All other trademarks are the property of their respective owners.

Scottrade, Inc.

CONTACT: Kelly Doria, Manager of Corporate Public Relations ofScottrade, +1-314-965-1555 x1231 or kdoria@scottrade.com

Web site: http://www.scottrade.com/http://www.scottrader.com/http://www.scottradeelite.com/http://www.gomez.com/http://www.hitwise.com/

Source: PRNewswire

More News in this Category