As the race to the bottom continues, slashing trading fees will eliminate billions of dollars of revenue for discount brokerage firms, although some may be better positioned to weather the impact. • Charles Schwab—the first to nix trading fees last week, followed by E-Trade and TD Ameritrade—estimated it would lose $360 million to $400 million of annual revenue. Commissions make up 7% to 8% of its total business. • At TD, trading fees still make up a large part of its business, estimated at $220 million to $240 million per quarter, or around 15% of overall revenue. • E-Trade relies on commissions for roughly 11% of ... (full story)