Business & Finance
Business and Finance
Business and Finance
Tue, February 24, 2009Mon, February 23, 2009Sun, February 22, 2009Fri, February 20, 2009Thu, February 19, 2009Wed, February 18, 2009Tue, February 17, 2009Mon, February 16, 2009Fri, February 13, 2009Thu, February 12, 2009Wed, February 11, 2009E*TRADE FINANCIAL Corporation Reports Monthly Activity for January 2009
Published in Business and Finance on Wednesday, February 18th 2009 at 5:40 GMT, Last Modified on 2009-02-18 05:41:54 by Market Wire
NEW YORK--([ BUSINESS WIRE ])--E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for January. The Company opened 75,141 gross new retail accounts in January, with net new retail accounts of 22,275, more than half of which were brokerage accounts. The Company's total retail accounts now stand at a record 4.56 million. Total Daily Average Revenue Trades ("DARTs") increased 2.8 percent sequentially to 184,158.
Asset flows for the month continued to be positive, as the Company realized more than $1 billion in net new customer assets, marking the fourth consecutive month of positive inflows. Total customer cash and deposits (including brokerage related cash) increased by $344 million during the month. Customers were net buyers of approximately $900 million in securities in January.
Monthly Activity Data | |||||||||||||
| Jan-09 | Dec-08 | Jan-08(1) | % Chg. M/M | % Chg. Y/Y | |||||||||
| Trading days | 20.0 | 21.5 | 21.0 | N.M. | N.M. | ||||||||
| Daily Average Revenue Trades | 184,158 | 179,162 | 200,809 | 2.8 % | (8.3)% | ||||||||
| Gross new brokerage accounts | 36,022 | 45,164 | 41,867 | (20.2)% | (14.0)% | ||||||||
| Gross new stock plan accounts | 15,717 | 14,741 | 17,640 | 6.6 % | (10.9)% | ||||||||
| Gross new banking accounts | 23,402 | 18,259 | 48,471 | 28.2 % | (51.7)% | ||||||||
| Total gross new retail accounts | 75,141 | 78,164 | 107,978 | (3.9)% | (30.4)% | ||||||||
| End of period brokerage accounts | 2,610,999 | 2,597,343 | 2,456,694 | 0.5 % | 6.3 % | ||||||||
| End of period stock plan accounts | 1,015,472 | 1,018,730 | 1,043,436 | (0.3)% | (2.7)% | ||||||||
| End of period banking accounts | 928,838 | 916,961 | 814,869 | 1.3 % | 14.0 % | ||||||||
| Total end of period retail accounts | 4,555,309 | 4,533,034 | 4,314,999 | 0.5 % | 5.6 % | ||||||||
Retail Customer Assets ($MM) | |||||||||||||
| Security holdings | $ | 76,373 | $ | 79,941 | $ | 136,693 | (4.5)% | (44.1)% | |||||
| Brokerage related cash | 15,881 | 16,209 | 17,622 | (2.0)% | (9.9)% | ||||||||
| Other customer cash and deposits | 16,720 | 16,048 | 15,098 | 4.2 % | 10.7 % | ||||||||
| Total retail customer assets | $ | 108,974 | $ | 112,198 | $ | 169,413 | (2.9)% | (35.7)% | |||||
| (1) These metrics have been re-presented to exclude activity from discontinued operations. | |||||||||||||
Historical monthly metrics data from January 2006 to January 2009 can be found on the E*TRADE FINANCIAL investor relations site at [ https://investor.etrade.com ].
About E*TRADE FINANCIAL
The E*TRADE FINANCIAL family of companies provides financial services including trading, investing and banking for retail and institutional customers. 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.
Important Notice
E*TRADE FINANCIAL, E*TRADE and the E*TRADE logo are trademarks or registered trademarks of E*TRADE FINANCIAL Corporation. The statements contained in this news release that are forward-looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include, but are not limited to, changes in market activity, anticipated increases in the rate of new customer acquisition, the conversion of new visitors to the site to customers, the activity of customers and assets held at the institution, seasonality, macro trends of the economy in general and the residential real estate market, instability in the consumer credit markets and credit trends, rising mortgage interest rates, tighter mortgage lending guidelines across the industry, increased mortgage loan delinquency and default rates, portfolio growth, portfolio seasoning and resolution through collections, sales or charge-offs, the development and enhancement of products and services, competitive pressures (including price competition), system failures, economic and political conditions, including changes to the U.S. Treasury's Troubled Asset Relief Program, changes in consumer behavior and the introduction of competing products having technological and/or other advantages. Further information about these risks and uncertainties can be found in the information included in the annual reports previously filed by E*TRADE FINANCIAL Corporation with the SEC on Form 10-K (including information under the caption "Risk Factors") and quarterly reports on Form 10-Q. Any forward looking statement included in this release speaks only as of the date of this communication; the Company disclaims any obligation to update any information.
© 2009 E*TRADE FINANCIAL Corporation. All rights reserved.
