These products not only generate commission revenues but also provide firms with hefty management fees.

Meanwhile, the volume of homes sold, coupled with increased sale prices, has helped lift total commission revenues over the last few years.

But even as the stock market reaches for new highs, commission revenues from retail trades have declined.

Prudential made large profits from selling the partnerships, in part through commission revenue.

A key component of this, commission revenue, fell 33 percent, to $143.2 million.

The company, which recently introduced on-line trading for some customers, saw its commission revenues jump 7 percent, to a record $1.6 billion.

But in a listless market, commission revenues have collapsed.

Quite the contrary, its commission revenue is still growing.

Merrill reported commission revenue of $521 million, up 16 percent.

The firm had commission revenues of $97.4 million, up from $79.2 million in the comparable quarter last year.