Daily average client trades rose to 402,638 in the quarter from 381,657 in the same quarter last year. An increasing number of trades come from higher-commission options and futures trading, which represented a record 41 percent of daily trades at the brokerage firm.

Derivatives trading boosted the firm's average commission to $12.97 per trade, up from $12.61 in the year-earlier quarter and well above the $9.99 price of an online stock trade.

On a conference call with analysts and investors, TD Ameritrade Chief Executive Fred Tomczyk said the company has no plans at this time to introduce an automated investing platform similar to the one unveiled on Monday by rival Charles Schwab Corp.. Schwab said its platform will go live in February and not charge advisory or transaction fees.

"Purely online models will struggle to (achieve) scale," Tomczyk said, adding that firms must combine automated investing with human advice to achieve profits. "If we need to make adjustments, we will, but right now it's full steam ahead."

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