E*TRADE Financial Corporation Reports Monthly Activity for October 2018
NEW YORK--(BUSINESS WIRE)--Nov 14, 2018--E*TRADE Financial Corporation (NASDAQ:ETFC) today released its Monthly Activity Report for October 2018.
Daily Average Revenue Trades (DARTs) for October were 301,625, a seven percent increase from September and a 40 percent increase from the year-ago period. Derivatives represented 32 percent of DARTs during the month. The Company added 46,760 gross new brokerage accounts in October and ended the month with approximately 4.0 million brokerage accounts—an increase of 3,012 from September.
Net new brokerage assets were $1.2 billion in the month. During the month, customer security holdings decreased by $25.5 billion, and brokerage-related cash decreased by $1.9 billion to $51.4 billion. Customer margin balances remained flat, ending the month at $11.2 billion. Customers were net buyers of approximately $2.7 billion in securities during the month.
(1) Includes the impact of the April 9, 2018, Trust Company of America (TCA) acquisition, including post-acquisition activity, as follows:October 2018: net new brokerage accounts 821, end of period brokerage customer assets of $18.9 million, net new brokerage assets of $190 million, DARTs of 2,972, and customer net sell activity of $0.1 billion. September 2018: net new brokerage accounts 922, end of period brokerage customer assets of $19.7 million, net new brokerage assets of $127 million, DARTs of 3,264, and customer net sell activity of $0.1 billion.
(2) Customer cash held by third parties is held outside E*TRADE and includes money market funds and sweep deposit accounts at unaffiliated financial institutions. Customer cash held by third parties is not reflected in the Company’s consolidated balance sheet and is not immediately available for liquidity purposes.
(3) Net new brokerage assets are total inflows to all new and existing brokerage customer accounts less total outflows from all closed and existing brokerage customer accounts, excluding the effects of market movements in the value of brokerage customer assets. Net new banking assets are total inflows to all new and existing banking customer accounts less total outflows from all closed and existing banking customer accounts. The net new banking assets and net new brokerage 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 brokerage and banking products and services to retail customers. Securities products and services are offered by E*TRADE Securities LLC (Member FINRA/SIPC). Commodity futures and options on futures products and services are offered by E*TRADE Futures LLC (Member NFA). Managed Account Solutions are offered through E*TRADE Capital Management, LLC, a Registered Investment Adviser. Bank products and services are offered by E*TRADE Bank, and RIA custody solutions are offered by E*TRADE Savings Bank, both of which are federal savings banks (Members FDIC). E*TRADE Securities LLC, E*TRADE Capital Management, LLC, E*TRADE Futures LLC, E*TRADE Bank and E*TRADE Savings Bank are separate but affiliated companies. More information is available at www.etrade.com.
E*TRADE, E*TRADE Financial, the E*TRADE logo and Trust Company of America are trademarks or registered trademarks of E*TRADE Financial Corporation. ETFC-G
© 2018 E*TRADE Financial Corporation. All rights reserved.
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CONTACT: E*TRADE Media Relations
E*TRADE Investor Relations
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: E*TRADE Financial Corporation
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PUB: 11/14/2018 08:05 AM/DISC: 11/14/2018 08:05 AM