E*TRADE Financial Corporation Reports Monthly Activity for May 2014

Business Wire

NEW YORK--(BUSINESS WIRE)--

E*TRADE Financial Corporation (ETFC) today released its Monthly Activity Report for May 2014.

Daily Average Revenue Trades (“DARTs”) for May were 147,661, a 14 percent decrease from April and a nine percent decrease from the year-ago period. The Company added 29,571 gross new brokerage accounts in May, ending the month with approximately 3.1 million brokerage accounts – an increase of 13,590 from April.

Net new brokerage assets were $1.2 billion in the month. During the month, customer security holdings increased by 2.1 percent, or $3.9 billion, and brokerage-related cash increased by $1.1 billion to $39.9 billion. Bank-related cash and deposits ended the month unchanged, at $6.1 billion. Customers were net sellers of approximately $0.5 billion in securities during the month.

Monthly Activity Data

       
 
May-14 Apr-14 May-13 % Chg. M/M % Chg. Y/Y
 
 
Trading days 21.0 21.0 22.0 N.M. N.M.
 
DARTs 147,661 171,271 162,940 (13.8)% (9.4)%
 
Gross new brokerage accounts 29,571 40,263 32,157 (26.6)% (8.0)%
Gross new stock plan accounts 17,727 16,861 20,270 5.1 % (12.5)%
Gross new banking accounts   576   801   871 (28.1)% (33.9)%
Total gross new accounts 47,874 57,925 53,298 (17.4)% (10.2)%
 
Net new brokerage accounts 13,590 12,358 15,648 N.M. N.M.
Net new stock plan accounts 2,676 2,696 8,858 N.M. N.M.
Net new banking accounts   (2,117)   (2,735)   (2,084) N.M. N.M.
Net new accounts 14,149 12,319 22,422 N.M. N.M.
 
End of period brokerage accounts 3,095,909 3,082,319 2,955,407 0.4 % 4.8 %
End of period stock plan accounts 1,233,767 1,231,091 1,181,453 0.2 % 4.4 %
End of period banking accounts   382,696   384,813   416,747 (0.6)% (8.2)%
End of period total accounts 4,712,372 4,698,223 4,553,607 0.3 % 3.5 %
 

Customer Assets ($B)

Security holdings $ 191.8 $ 187.9 $ 154.2 2.1 % 24.4 %
Customer payables (cash) 6.5 5.9 5.5 10.2 % 18.2 %
Customer assets held by third parties(1) 14.2 13.9 11.5 2.2 % 23.5 %
Unexercised stock plan customer options (vested)   34.3   33.5   28.4 2.4 % 20.8 %
Customer assets in brokerage and stock plan accounts   246.8   241.2   199.6 2.3 % 23.6 %
Sweep deposits 19.2 19.0 19.1 1.1 % 0.5 %
Savings, transaction and other   6.1   6.1   6.7 0.0 % (9.0)%
Customer assets in banking accounts   25.3   25.1   25.8 0.8 % (1.9)%
Total customer assets $ 272.1 $ 266.3 $ 225.4 2.2 % 20.7 %
 
Net new brokerage assets ($B)(2) $ 1.2 $ (0.7) $ 1.0 N.M. N.M.
Net new banking assets ($B)(2)   (0.0)   (0.2)   (0.0) N.M. N.M.
Net new customer assets ($B)(2) $ 1.2 $ (0.9) $ 1.0 N.M. N.M.
 
Brokerage related cash ($B) $ 39.9 $ 38.8 $ 36.1 2.8 % 10.5 %
Other customer cash and deposits ($B)   6.1   6.1   6.7 0.0 % (9.0)%
Total customer cash and deposits ($B) $ 46.0 $ 44.9 $ 42.8 2.4 % 7.5 %
 
Customer net (purchase) / sell activity ($B) $ 0.5 $ (0.7) $ 0.8 N.M. N.M.
(1) 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.
(2) 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 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 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

© 2014 E*TRADE Financial Corporation. All rights reserved.

Contact:
E*TRADE Media Relations
Thayer Fox
646-521-4418
thayer.fox@etrade.com
or
E*TRADE Investor Relations
Brett Goodman
646-521-4406
brett.goodman@etrade.com
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