(Bloomberg) -- Retail brokerages E*Trade Financial Corp. and Charles Schwab Corp. welcomed the return of volatility.
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The jump in the VIX from single digits to an average reading of 17.4 for the first quarter may have worried their clients, but the brokers saw a record number of average daily trades. Transactions for each of the firms surged more than 30 percent in the year’s first three months over the prior quarter.
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Charles Schwab posted its highest quarterly revenue ever and E*Trade recorded the most sales in a quarter since 2009. TD Ameritrade Holding Corp., the other large public retail broker, reports earnings on April 24.
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