E*TRADE Financial Corporation Reports Monthly Activity for February 2016
March 14 2016 - 8:05AM
Business Wire
E*TRADE Financial Corporation (NASDAQ:ETFC) today released its
Monthly Activity Report for February 2016.
Daily Average Revenue Trades ("DARTs") for February were
164,077, a six percent decrease from January and a nine percent
decrease from the year-ago period. The Company added 38,494 gross
new brokerage accounts in February and ended the month with
approximately 3.2 million brokerage accounts — an increase of
17,875 from January.
Net new brokerage assets were $0.9 billion in the month. During
the month, customer security holdings increased by $2.2 billion,
and brokerage-related cash increased by $0.1 billion to $41.1
billion. Bank-related cash and deposits remained flat, ending the
month at $5.3 billion. Customers were net buyers of approximately
$0.7 billion in securities during the month.
Monthly Activity Data
Feb-16
Jan-16 Feb-15
% Chg. M/M % Chg. Y/Y Trading
days 20.0 19.0 19.0 N.M. N.M. DARTs 164,077 175,346 179,420
(6.4 )% (8.6 )% Gross new brokerage accounts 38,494 29,666
37,224 29.8 % 3.4 % Gross new stock plan accounts 16,300 25,145
15,166 (35.2 )% 7.5 % Gross new banking accounts 363 377
422 (3.7 )% (14.0 )% Total gross new accounts 55,157
55,188 52,812 (0.1 )% 4.4 % Net new brokerage accounts(1)
17,875 4,815 20,715 N.M. N.M. Net new stock plan accounts (1,017 )
11,395 (4,307 ) N.M. N.M. Net new banking accounts (1,310 ) (1,580
) (1,373 ) N.M. N.M. Net new accounts 15,548 14,630 15,035 N.M.
N.M. End of period brokerage accounts(1) 3,236,231 3,218,356
3,171,672 0.6 % 2.0 % End of period stock plan accounts 1,418,531
1,419,548 1,269,249 (0.1 )% 11.8 % End of period banking accounts
336,998 338,308 359,108 (0.4 )% (6.2 )% End of
period total accounts 4,991,760 4,976,212 4,800,029 0.3 % 4.0 %
Customer Assets
($B)
Security holdings $ 192.6 $ 190.4 $ 216.0 1.2 % (10.8 )% Customer
payables (cash) 6.4 6.2 6.7 3.2 % (4.5 )% Customer assets held by
third parties(2) 10.9 11.0 16.1 (0.9 )% (32.3 )% Sweep deposits
23.8 23.8 19.3 0.0 % 23.3 % Brokerage customer
assets 233.7 231.4 258.1 1.0 % (9.5 )%
Unexercised stock plan customer holdings (vested) 28.6 29.2 39.6
(2.1 )% (27.8 )% Savings, checking and other banking customer
assets 5.3 5.3 5.8 0.0 % (8.6 )% Total
customer assets 267.6 265.9 303.5 0.6 % (11.8
)% Net new brokerage assets ($B)(3) $ 0.9 $ 1.0 $ 1.7 N.M.
N.M. Net new banking assets ($B)(3) 0.0 (0.1 ) 0.1
N.M. N.M. Net new customer assets ($B)(3) $ 0.9 $ 0.9 $ 1.8 N.M.
N.M. Brokerage related cash ($B) $ 41.1 $ 41.0 $ 42.1 0.2 %
(2.4 )% Other customer cash and deposits ($B) 5.3 5.3
5.8 0.0 % (8.6 )% Total customer cash and deposits ($B) $
46.4 $ 46.3 $ 47.9 0.2 % (3.1 )% Customer net (buy) / sell
activity ($B) $ (0.7 ) $ (1.2 ) $ 0.8 N.M. N.M. (1)
Net new brokerage accounts include the
closure of 1,524 accounts in February 2016 and 1,440 accounts in
January 2016 related to the shutdown of the Company's Hong Kong and
Singapore operations.
(2) Customer assets held by third parties are held outside E*TRADE
Financial and include money market funds and sweep deposit accounts
at unaffiliated financial institutions. Customer assets held by
third parties are not reflected in the Company's consolidated
balance sheet and are not immediately available for liquidity
purposes. However, the Company maintains the ability to transfer
approximately half of these customer assets to its balance sheet
with notification to the third party institutions and customer
consent, as appropriate. (3) Net new customer assets are total
inflows to all new and existing customer accounts less total
outflows from all closed and existing customer accounts. The net
new brokerage assets and net new banking assets metrics treat asset
flows between E*TRADE entities in the same manner as unrelated
third party accounts.
Historical metrics and financials can be found on E*TRADE
Financial's corporate website at https://about.etrade.com.
About E*TRADE Financial
E*TRADE Financial and its subsidiaries provide financial
services including online brokerage and related banking products
and services to retail investors. Specific business segments
include Trading and Investing and Balance Sheet Management.
Securities products and services are offered by E*TRADE Securities
LLC (Member FINRA/SIPC). Bank products and services are offered by
E*TRADE Bank, a Federal savings bank, Member FDIC, or its
subsidiaries. More information is available at www.etrade.com.
Important Notices
E*TRADE Financial, E*TRADE, and the E*TRADE logo are trademarks
or registered trademarks of E*TRADE Financial Corporation.
ETFC-G
© 2016 E*TRADE Financial Corporation. All rights reserved.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160314005124/en/
E*TRADE Media
RelationsThayer Fox,
646-521-4418thayer.fox@etrade.comorE*TRADE
Investor RelationsBrett Goodman,
646-521-4406brett.goodman@etrade.com
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