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E*TRADE Financial Corporation Reports Monthly Activity for October 2019


E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for October 2019.


Monthly Activity Data


Oct-19


Sep-19


Oct-18


% Chg. M/M


% Chg. Y/Y


E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for October 2019.

Monthly Activity Data

Oct-19

Sep-19

Oct-18

% Chg. M/M

% Chg. Y/Y

Trading days

23.0

 

20.0

 

23.0

 

N.M.

N.M.

 

 

 

 

 

 

DARTs(1)

290,578

 

266,362

 

294,990

 

9%

(1)%

Derivative DARTs(1)

103,986

 

95,618

 

95,667

 

9%

9%

Derivative DARTs %(1)

36

%

36

%

32

%

—%

4%

 

 

 

 

 

 

Margin receivables ($B)

$

9.7

 

$

9.9

 

$

11.2

 

(2)%

(13)%

 

 

 

 

 

 

Net new retail accounts(2)

(7,770

)

4,068

 

3,504

 

N.M.

N.M.

Net new advisor services accounts

(48

)

(264

)

821

 

82%

N.M.

Net new corporate services accounts(3)

(5,717

)

5,669

 

8,586

 

N.M.

N.M.

Net new accounts

(13,535

)

9,473

 

12,911

 

N.M.

N.M.

 

 

 

 

 

 

End of period retail accounts(2)

5,122,368

 

5,130,138

 

4,059,920

 

—%

26%

End of period advisor services accounts

150,353

 

150,401

 

150,884

 

—%

—%

End of period corporate services accounts(3)

1,888,164

 

1,893,881

 

1,744,261

 

—%

8%

End of period accounts

7,160,885

 

7,174,420

 

5,955,065

 

—%

20%

 

 

 

 

 

 

Net new retail assets ($B)(4)

$

0.7

 

$

1.4

 

$

1.2

 

(50)%

(42)%

Net new advisor services assets ($B)(4)

 

(0.1

)

0.2

 

100%

(100)%

Net new retail and advisor services assets ($B)

$

0.7

 

$

1.3

 

$

1.4

 

(46)%

(50)%

 

 

 

 

 

 

Total Customer Assets ($B)

 

 

 

 

 

Security holdings

$

291.6

 

$

284.7

 

$

254.8

 

2%

14%

Cash and deposits

66.1

 

65.0

 

56.7

 

2%

17%

Retail and advisor services assets

$

357.7

 

$

349.7

 

$

311.5

 

2%

15%

Corporate services vested assets(3)

147.9

 

138.9

 

124.8

 

6%

19%

Retail, advisor services, and corporate

services vested assets

$

505.6

 

$

488.6

 

$

436.3

 

3%

16%

Corporate services unvested holdings

124.3

 

115.4

 

107.5

 

8%

16%

Total customer assets

$

629.9

 

$

604.0

 

$

543.8

 

4%

16%

 

 

 

 

 

 

Net (Buy) / Sell Activity ($B)

 

 

 

 

 

Retail net (buy) / sell activity

$

0.7

 

$

1.6

 

$

(2.8

)

N.M.

N.M.

Advisor services net (buy) / sell activity

 

(0.5

)

0.1

 

N.M.

N.M.

Net (buy) / sell activity

$

0.7

 

$

1.1

 

$

(2.7

)

N.M.

N.M.

 

 

 

 

 

 

Total Cash and Deposits ($B)

 

 

 

 

 

Sweep deposits

$

29.1

 

$

30.8

 

$

36.9

 

(6)%

(21)%

Customer payables

11.7

 

11.2

 

9.8

 

4%

19%

Savings, checking and other banking assets

10.0

 

9.6

 

5.3

 

4%

89%

Total on-balance sheet cash

$

50.8

 

$

51.6

 

$

52.0

 

(2)%

(2)%

Sweep deposits at unaffiliated financial institutions

13.5

 

11.7

 

3.0

 

15%

350%

Money market funds and other

1.8

 

1.7

 

1.7

 

6%

6%

Total customer cash held by third parties(5)

$

15.3

 

$

13.4

 

$

4.7

 

14%

226%

Total cash and deposits

$

66.1

 

$

65.0

 

$

56.7

 

2%

17%

(1) Daily average revenue trades (DARTs) reflect all customer directed trades that generate commissions and/or order flow revenue, including trades associated with no transaction fee mutual funds, options trades through the dime buyback program, and all ETF transactions (including those formerly classified as commission free). This has impacted the presentation of DARTs, derivative DARTs, and derivative DARTs %.

(2) October 2019 retail accounts and assets include a net reduction of 6,000 accounts and $55 million in assets from accounts acquired in November 2018 from Capital One. Additionally, October 2019 net new retail accounts include a net reduction of 3,000 accounts related to certain September 2019 activity that was not reflected in that period’s reporting.

(3) October 2019 corporate services accounts include outflows of 10,000 accounts and $95 million of vested assets related to the legal dissolution of a corporate client and the elimination of accounts related to a previously terminated large corporate client.

(4) Net new retail and advisor services assets exclude the effects of market movements in the value of retail and advisor services assets.

(5) Customer cash held by third parties is held outside E*TRADE Financial and includes money market funds and sweep deposit accounts at unaffiliated financial institutions. Customer cash held by third parties is not reflected in E*TRADE Financial's consolidated or condensed consolidated balance sheet and is not immediately available for liquidity purposes.

Historical metrics and financials can be found on E*TRADE Financial's corporate website at https://about.etrade.com.

About E*TRADE Financial Corporation

E*TRADE Financial Corporation and its subsidiaries provide financial services including brokerage and related products and services to traders, investors, stock plan administrators and participants, and registered investment advisers (RIAs). 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). Equity compensation plan services are offered by E*TRADE Financial Corporate Services, Inc. E*TRADE Securities LLC, E*TRADE Futures LLC, E*TRADE Capital Management, LLC, E*TRADE Bank, E*TRADE Savings Bank, and E*TRADE Financial Corporate Services, Inc. are separate but affiliated companies. More information is available at www.etrade.com.

Important Notices

E*TRADE, E*TRADE Financial, E*TRADE Bank, E*TRADE Savings Bank, and the E*TRADE logo are trademarks or registered trademarks of E*TRADE Financial Corporation. ETFC-G

© 2019 E*TRADE Financial Corporation. All rights reserved.

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