I'm going to use the remainder of the time today to discuss Q4. That concludes our prepared remarks.
And should the yield curve steepen, we can seamlessly shift deposit growth on-balance sheet when it is most economic. First, we experienced strong traction in our premium savings banking product, which grew to $8 billion during the year and further enables us to retain high-value relationships.
Despite a more reserved retail investor, we continue to grow at a healthy pace, as the breadth of our offerings range from robo advisory to derivative trading and managed products to fully advised solutions allows our customers to navigate markets, both good and bad. Michael. We’re always out in doing education, trying to get our customers to understand the option market, to grow into option trading. Thank you, everyone, for joining.
In Q3, we anticipate the gross fees on off-balance sheet sweep deposits will be around 240 basis points with net fees of approximately 210 basis points. But there was a much greater focus on reaching specific audiences with specific messages. My bullishness isn't because I think the macro environment is back to normal. Now, let me wrap up by coming back to where I started. Our positivity about our future is driven by the share gains that are happening during this time of uncertainty, and the numbers show it. You see the importance of Corporate Services to us. Before I turn the call over to Mike and Chad, I want to spend a moment on our philosophy toward expense management and op margin. And I’m sure, moving forward, the competition is going to fight hard to retain their customers. I do think we are seeing the result and effect of very high degrees of volatility in the marketplace around events, that in some ways, are not even macroeconomic related to some degree, whether it's impeachment, whether it's geopolitical risk in the Middle East or other events that caused the market to move, it takes core investors, and get them to move to the sideline a bit, and sort of diminished interest in investment overall until we move past these type of market environments. I guess, with the fed curves suggesting maybe three cuts by the end of the year, just wondering if there's anything that you could do to lock in rates in the third-party banks or if we should just think about the yield as replacing rather quickly as rates move lower? Just another one maybe on the market disruption, kind of the assets in motion potentially with the Schwab-Ameritrade merger. A week after a national election and we still don’t know the final results in a few states. Looking at your fees and service charges line item, that was a positive surprise versus what we were expecting. Shifting to the pricing changes. The impact from eliminating retail commissions for online U.S.-listed stock, ETF, and options trade is roughly $300 million per year, assuming the most recent quarter's trading activity.
Obviously good to see that move higher, and it sounds like some selling boosted cash at quarter end.
I think what we put on the table this evening shows that we've taken action in a time where we believe that this is the best return for our shareholders over time, right? I think what we put on the table this evening shows that we've taken action in a time where we believe that this is the best return for our shareholders over time, right? We are also in the process of developing the ability to treat bank deposits in a similar fashion. This build-out is key to taking full advantage of the growth opportunity that is now squarely in front of us.
Holgado, who is Black, worked at CZI from September 2018 through August 2020.
I mean, if you think about it, the systems are underlying technology of the bank accounts is different than the sweep deposits, so it doesn't have that sort of off-balance sheet, on-balance sheet multi-charter capability.
It is impossible to talk about the future of The Trade Desk or the future of the open Internet without talking about Connected TV. We now see clear opportunity for growth and anticipate marketing spend closer to last year’s level. The securities that we sold were around the 220 yield on the $4.5 billion.
But just to clarify, with a 25-basis-point rate cut, do you still expect deposit sweep rates to be flattish in the end of the third quarter? And should the yield curve steepen, we can seamlessly shift deposit growth on-balance sheet when it is most economic.
The buy-the-dip mentality was on full display as our retail customers were intense net buyers from early May through early June when the Dow and S&P pulled back 7% and the NASDAQ hit correction territory down more than 10% before meaningful profit taking took hold in June, resulting in a very modest net buy position for the quarter.
And then we sent it out to partners like Criteo and like, which incidentally is a competitor in a lot of levels. And then what do you anticipate to be the primary asks of all the parties that are involved here and whether or not the bigger asks will come from the bigger publishers if I'm thinking about that correctly?
As you know, over the last few years, we have invested heavily to be ready for this opportunity. The ad-to-content ratio creates a terrible viewer experience.
We’re going to apply the same principles here that we applied in Corporate Services. I definitely want to make investments there.
It's focusing on any opportunities that we might have around our stellar corporate services business, also around the services or other items that we provide out for the RIA custody population, right, so looking at sort of add-ons or bolt-ons, if you will, nothing that I would currently comment on or go through. So my direct question would be, today, compared to 12 months ago, are you more open, the same or less open to consolidation? You sold that product because of us. Good evening. That only intensified further post-October. Say, if another $20 billion or $50 billion wanted to come online in the third quarter, how much would you need to spend to accommodate that? There is much to be proud of as we reflect on the year, but 2019 will also be remembered for the tectonic shifts in the competitive environment.
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