E*TRADE Financial Corporation (NASDAQ:ETFC) today released its
Monthly Activity Report for November 2018.
Daily Average Revenue Trades (DARTs) for November were 275,319,
a nine percent decrease from October and an 11 percent increase
from the year-ago period. Derivatives represented 32 percent of
DARTs during the month. The Company added 962,487 gross new
brokerage accounts in November and ended the month with
approximately 4.9 million brokerage accounts—an increase of 943,276
from October. The acquisition of brokerage accounts from Capital
One added 912,065 accounts to gross new, net new and end of period
brokerage accounts during the month.
Net new brokerage assets were $16.0 billion in the month. During
the month, customer security holdings increased by $11.4 billion,
and brokerage-related cash increased by $1.8 billion to $53.2
billion. The acquisition of brokerage accounts from Capital One
added $15.1 billion in net new brokerage assets, which includes
$13.5 billion of security holdings and $1.6 billion of sweep
deposits. Customer margin balances decreased $0.4 billion, ending
the month at $10.8 billion. Customers were net buyers of
approximately $4 million in securities during the month.
Monthly Activity Data
Nov-18 Oct-18
Nov-17 % Chg. M/M % Chg. Y/Y
Trading days 20.5 23.0 20.5 N.M. N.M. DARTs (1)(2) 275,319
301,625 248,669 (9 )% 11 % Derivative DARTs 88,852 95,040 76,431 (7
)% 16 % Derivative DARTs % 32 % 32 % 31 % — % 1 % Gross new
brokerage accounts(2) 962,487 46,760 41,473 N.M. N.M. Gross new
stock plan accounts 25,552 24,454 21,261 4 % 20 % Gross new banking
accounts 4,597 4,521 274 2 % N.M. Total gross
new accounts 992,636 75,735 63,008 N.M. N.M. Net new
brokerage accounts(1)(2) 943,276 3,012 19,353 N.M. N.M. Net new
stock plan accounts 8,937 8,586 3,662 4 % 144 % Net new banking
accounts 2,573 1,633 (1,230 ) 58 % (309 )% Net new
accounts 954,786 13,231 21,785 N.M. N.M. End of period
brokerage accounts(1)(2) 4,895,687 3,952,411 3,607,105 24 % 36 %
End of period stock plan accounts 1,753,198 1,744,261 1,488,051 1 %
18 % End of period banking accounts 296,468 293,895
301,019 1 % (2 )% End of period total accounts 6,945,353
5,990,567 5,396,175 16 % 29 % Customer margin balances
($B)(2) $ 10.8 $ 11.2 $ 8.9 (4 )% 21 %
Customer Assets
($B)
Security holdings(2) $ 350.1 $ 338.7 $ 285.3 3 % 23 % Sweep
deposits(2) 38.5 36.9 37.4 4 % 3 % Customer cash held by third
parties(3) 4.7 4.7 6.0 — % (22 )% Customer payables (cash) 10.0
9.8 9.7 2 % 3 % Brokerage customer assets
403.3 390.1 338.4 3 % 19 % Unexercised stock
plan holdings (vested) 42.0 40.9 38.0 3 % 11 % Savings, checking
and other banking assets 5.7 5.3 5.0 8 % 14 %
Total customer assets $ 451.0 $ 436.3 $ 381.4
3 % 18 % Net new brokerage assets(1)(2)(4) $ 16.0 $ 1.2 $
1.5 N.M. N.M. Net new banking assets(4) 0.4 0.2 —
100 % N.M. Net new customer assets(1)(2) $ 16.4 $ 1.4 $ 1.5
N.M. N.M. Brokerage related cash $ 53.2 $ 51.4 $ 53.1 4 % —
% Other cash and deposits 5.7 5.3 5.0 8 % 14 %
Total customer cash and deposits $ 58.9 $ 56.7 $ 58.1 4 % 1 %
Managed products $ 6.0 $ 5.9 $ 5.3 2 % 13 % Customer net
(buy) / sell activity(1) $ — $ (2.7 ) $ (1.6 ) N.M. N.M.
(1) Includes the impact of the April 9, 2018, Trust Company of
America (TCA) acquisition, including post-acquisition activity, as
follows:
- November 2018: net new brokerage
accounts 213, end of period brokerage customer assets of $19.0
billion, net new brokerage assets of negative $20 million, DARTs of
3,044, and customer net buy activity of $0.1 billion.
- October 2018: net new brokerage
accounts 821, end of period brokerage customer assets of $18.9
billion, net new brokerage assets of $190 million, DARTs of 2,972,
and customer net sell activity of $0.1 billion.
(2) Includes the impact of the November 6, 2018 acquisition of
brokerage accounts from Capital One, including post-acquisition
activity, as follows: gross new, net new, end of period brokerage
accounts of 912,065, customer margin balance of $0.1 billion, and
net new brokerage assets of $15.1 billion, which is reflected
within total customer assets and includes $13.5 billion of security
holdings and $1.6 billion of sweep deposits. These results also
include DARTs of 9,548.
(3) 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.
(4) 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.
Important Notices
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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