TD Ameritrade 2018 Annual Report

37 Transaction-Based Revenue Metrics The following table sets forth several key metrics regarding client trading activity, which we utilize in measuring and evaluating performance and the results of our operations: Fiscal Year '18 vs. '17 % Change '17 vs. '16 % Change 2018 2017 2016 Total trades (in millions). . . . . . . . . . . . . . . . 202.78 127.68 116.66 59 % 9 % Average client trades per day . . . . . . . . . . . . 811,110 510,710 462,918 59 % 10 % Trading days . . . . . . . . . . . . . . . . . . . . . . . . . 250.0 250.0 252.0 0 % (1)% Average commissions per trade (1) . . . . . . . . . $ 7.45 $ 8.33 $ 9.20 (11)% (9)% Order routing revenue (in millions) . . . . . . . $ 458 $ 320 $ 299 43 % 7 % (1) Effective in September 2017, the average commissions per trade metric was revised to exclude order routing revenue. Prior periods have been updated to conform to the current presentation. Client Account and Client Asset Metrics The following table sets forth certain metrics regarding client accounts and client assets, which we use to analyze growth and trends in our client base: Fiscal Year 2018 2017 2016 Funded accounts (beginning of year). . . . . . . . . . . . . . . . . . . . . 11,004,000 6,950,000 6,621,000 Funded accounts (end of year). . . . . . . . . . . . . . . . . . . . . . . . . . 11,514,000 11,004,000 6,950,000 Percentage change during year . . . . . . . . . . . . . . . . . . . . . . . . . 5% 58% 5% Client assets (beginning of year, in billions) . . . . . . . . . . . . . . . $ 1,118.5 $ 773.8 $ 667.4 Client assets (end of year, in billions) . . . . . . . . . . . . . . . . . . . . $ 1,297.5 $ 1,118.5 $ 773.8 Percentage change during year . . . . . . . . . . . . . . . . . . . . . . . . . 16% 45% 16% Net new assets (in billions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 92.3 $ 80.1 $ 60.3 Net new assets growth rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8% 10% 9%