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E*TRADE Financial Corporation Reports Monthly Activity for February 2020

E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for February 2020 and also provided an update for March to-date trading activity.

Daily Average Revenue Trades (DARTs) for February were a record 587,000, with revenue trades peaking on February 28, 2020, at 961,000, a single-day record. DARTs volume has continued to increase in March, with DARTs of 748,000 through March 11, 2020. E*TRADE has facilitated all of its top 15 trading days in firm history during the months of February and March.

 

Monthly Activity Data

Feb-20

Jan-20

Feb-19

% Chg. M/M

% Chg. Y/Y

Trading days

19.0

 

21.0

 

19.0

 

N.M.

N.M.

 

 

 

 

 

 

DARTs

587,122

 

463,739

 

286,864

 

27

%

105

%

Derivative DARTs

188,901

 

155,177

 

89,432

 

22

%

111

%

Derivative DARTs %

32

%

33

%

31

%

(1)

%

1

%

 

 

 

 

 

 

Margin receivables ($B)

$

10.4

 

$

10.0

 

$

9.9

 

4

%

5

%

 

 

 

 

 

 

Net new retail accounts

43,005

 

25,341

 

32,907

 

70

%

31

%

Net new advisor services accounts

(1,935)

 

(1,107)

 

147

 

(75)

%

N.M.

Net new corporate services accounts

9,637

 

15,774

 

11,931

 

(39)

%

(19)

%

Net new accounts

50,707

 

40,008

 

44,985

 

27

%

13

%

 

 

 

 

 

 

End of period retail accounts

5,238,103

 

5,195,098

 

5,062,084

 

1

%

3

%

End of period advisor services accounts

145,156

 

147,091

 

151,741

 

(1)

%

(4)

%

End of period corporate services accounts

1,934,247

 

1,924,610

 

1,795,748

 

1

%

8

%

End of period accounts

7,317,506

 

7,266,799

 

7,009,573

 

1

%

4

%

 

 

 

 

 

 

Net new retail assets ($B)(1)

$

4.7

 

$

2.6

 

$

1.9

 

81

%

147

%

Net new advisor services assets ($B)(1)

(0.1)

 

(0.2)

 

 

50

%

(100)

%

Net new retail and advisor services assets ($B)

$

4.6

 

$

2.4

 

$

1.9

 

92

%

142

%

 

 

 

 

 

 

Total Customer Assets ($B)

 

 

 

 

 

Security holdings

$

294.0

 

$

315.1

 

$

273.6

 

(7)

%

7

%

Cash and deposits

76.0

 

72.3

 

61.3

 

5

%

24

%

Retail and advisor services assets

$

370.0

 

$

387.4

 

$

334.9

 

(4)

%

10

%

Corporate services vested assets

152.4

 

161.4

 

138.1

 

(6)

%

10

%

Retail, advisor services, and corporate
services vested assets

$

522.4

 

$

548.8

 

$

473.0

 

(5)

%

10

%

Corporate services unvested holdings

130.0

 

142.9

 

110.8

 

(9)

%

17

%

Total customer assets

$

652.4

 

$

691.7

 

$

583.8

 

(6)

%

12

%

 

 

 

 

 

 

Net (Buy) / Sell Activity ($B)

 

 

 

 

 

Retail net (buy) / sell activity

$

(0.5)

 

$

(1.6)

 

$

(0.2)

 

N.M.

N.M.

Advisor services net (buy) / sell activity

0.1

 

0.1

 

(0.4)

 

N.M.

N.M.

Net (buy) / sell activity

$

(0.4)

 

$

(1.5)

 

$

(0.6)

 

N.M.

N.M.

 

 

 

 

 

 

Total Cash and Deposits ($B)

 

 

 

 

 

Brokerage sweep deposits

$

31.6

 

$

31.4

 

$

38.7

 

1

%

(18)

%

Bank sweep deposits(2)

4.2

 

2.2

 

 

91

%

100

%

Customer payables

14.2

 

13.4

 

10.9

 

6

%

30

%

Savings, checking and other banking assets(2)

3.4

 

4.3

 

7.0

 

(21)

%

(51)

%

Total on-balance sheet customer cash and deposits

$

53.4

 

$

51.3

 

$

56.6

 

4

%

(6)

%

Brokerage sweep deposits at unaffiliated financial institutions

15.1

 

13.3

 

3.0

 

14

%

403

%

Bank sweep deposits at unaffiliated financial institutions(3)

5.6

 

5.9

 

 

(5)

%

100

%

Money market funds and other

1.9

 

1.8

 

1.7

 

6

%

12

%

Total customer cash held by third parties(4)

$

22.6

 

$

21.0

 

$

4.7

 

8

%

381

%

Total customer cash and deposits

$

76.0

 

$

72.3

 

$

61.3

 

5

%

24

%

(1) Net new retail and advisor services assets exclude the effects of market movements in the value of retail and advisor services assets.
(2) Beginning November 2019, bank sweep deposits include Premium Savings Accounts participating in the bank sweep deposit account program. Savings, checking, and other banking assets include $1.0 billion of deposits at January 31, 2020 in our Premium Savings Account product that were subsequently converted to the bank sweep deposit account program.
(3) Bank sweep deposits at unaffiliated financial institutions includes customer cash related to Premium Savings Accounts held outside E*TRADE Financial presented net of deposit balances from unaffiliated financial institutions held on-balance sheet.
(4) 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, net of deposit balances from unaffiliated financial institutions held on-balance sheet. 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). Employee stock and student loan benefit plan solutions 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

© 2020 E*TRADE Financial Corporation. All rights reserved.

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Contacts

E*TRADE Media Relations
646-521-4418
mediainq@etrade.com

E*TRADE Investor Relations
646-521-4406
ir@etrade.com