E*TRADE Financial Corporation Reports Monthly Activity for November 2019
E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for November 2019.
Monthly Activity Data |
Nov-19 |
Oct-19 |
Nov-18 |
% Chg. M/M |
% Chg. Y/Y |
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Trading days |
19.5 |
|
23.0 |
|
20.5 |
|
N.M. |
|
N.M. |
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|
|
|
|
|
|
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DARTs |
354,434 |
|
290,578 |
|
268,724 |
|
22 % |
|
32 % |
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Derivative DARTs |
117,809 |
|
103,986 |
|
89,576 |
|
13 % |
|
32 % |
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Derivative DARTs % |
33 % |
|
36 % |
|
33 % |
|
(3) % |
|
? % |
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|
|
|
|
|
|
|
|
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Margin receivables ($B) |
$ |
9.6 |
|
$ |
9.7 |
|
$ |
10.8 |
|
(1) % |
|
(11) % |
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|
|
|
|
|
|
|
|
|
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Net new retail accounts(1) |
27,584 |
|
(7,770) |
|
945,798 |
|
N.M. |
|
(97) % |
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Net new advisor services accounts(2) |
(2,075) |
|
(48) |
|
213 |
|
N.M. |
|
N.M. |
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Net new corporate services accounts(3) |
9,864 |
|
(5,717) |
|
8,937 |
|
N.M. |
|
10 % |
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Net new accounts |
35,373 |
|
(13,535) |
|
954,948 |
|
N.M. |
|
(96) % |
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End of period retail accounts(1) |
5,149,952 |
|
5,122,368 |
|
5,005,718 |
|
1 % |
|
3 % |
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End of period advisor services accounts(2) |
148,278 |
|
150,353 |
|
151,097 |
|
(1) % |
|
(2) % |
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End of period corporate services accounts(3) |
1,898,028 |
|
1,888,164 |
|
1,753,198 |
|
1 % |
|
8 % |
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End of period accounts |
7,196,258 |
|
7,160,885 |
|
6,910,013 |
|
? % |
|
4 % |
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|
|
|
|
|
|
|
|
|
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Net new retail assets ($B)(1)(4) |
$ |
2.4 |
|
$ |
0.7 |
|
$ |
16.4 |
|
243 % |
|
(85) % |
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Net new advisor services assets ($B)(2)(4) |
(0.4) |
|
? |
|
? |
|
(100) % |
|
(100) % |
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Net new retail and advisor services assets ($B) |
$ |
2.0 |
|
$ |
0.7 |
|
$ |
16.4 |
|
186 % |
|
(88) % |
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|
|
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Total Customer Assets ($B) |
|
|
|
|
|
|
|
|
|
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Security holdings |
$ |
301.0 |
|
$ |
291.6 |
|
$ |
267.3 |
|
3 % |
|
13 % |
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Cash and deposits |
68.7 |
|
66.1 |
|
58.9 |
|
4 % |
|
17 % |
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Retail and advisor services assets |
$ |
369.7 |
|
$ |
357.7 |
|
$ |
326.2 |
|
3 % |
|
13 % |
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Corporate services vested assets(3) |
155.1 |
|
147.9 |
|
124.8 |
|
5 % |
|
24 % |
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Retail, advisor services, and corporate services vested assets |
$ |
524.8 |
|
$ |
505.6 |
|
$ |
451.0 |
|
4 % |
|
16 % |
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Corporate services unvested holdings |
131.7 |
|
124.3 |
|
105.6 |
|
6 % |
|
25 % |
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Total customer assets |
$ |
656.5 |
|
$ |
629.9 |
|
$ |
556.6 |
|
4 % |
|
18 % |
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|
|
|
|
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|
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|
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Net (Buy) / Sell Activity ($B) |
|
|
|
|
|
|
|
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Retail net (buy) / sell activity |
$ |
0.4 |
|
$ |
0.7 |
|
$ |
0.1 |
|
N.M. |
|
N.M. |
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Advisor services net (buy) / sell activity |
? |
|
? |
|
(0.1) |
|
N.M. |
|
N.M. |
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Net (buy) / sell activity |
$ |
0.4 |
|
$ |
0.7 |
|
$ |
? |
|
N.M. |
|
N.M. |
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Total Cash and Deposits ($B) |
|
|
|
|
|
|
|
|
|
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Brokerage sweep deposits |
$ |
28.4 |
|
$ |
29.1 |
|
$ |
38.5 |
|
(2) % |
|
(26) % |
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Bank sweep deposits(5) |
5.6 |
|
? |
|
? |
|
100 % |
|
100 % |
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Customer payables |
12.2 |
|
11.7 |
|
10.0 |
|
4 % |
|
22 % |
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Savings, checking and other banking assets(5) |
4.2 |
|
10.0 |
|
5.7 |
|
(58) % |
|
(26) % |
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Total on-balance sheet cash |
$ |
50.4 |
|
$ |
50.8 |
|
$ |
54.2 |
|
(1) % |
|
(7) % |
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Brokerage sweep deposits at unaffiliated financial institutions |
15.7 |
|
13.5 |
|
3.0 |
|
16 % |
|
423 % |
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Bank sweep deposits at unaffiliated financial institutions(6) |
0.8 |
|
? |
|
? |
|
100 % |
|
100 % |
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Money market funds and other |
1.8 |
|
1.8 |
|
1.7 |
|
? % |
|
6 % |
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Total cash held by third parties(7) |
$ |
18.3 |
|
$ |
15.3 |
|
$ |
4.7 |
|
20 % |
|
289 % |
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Total customer cash and deposits |
$ |
68.7 |
|
$ |
66.1 |
|
$ |
58.9 |
|
4 % |
|
17 % |
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(1) Retail accounts and assets include a net reduction of 5,000 and 6,000 accounts and $45 million and $55 million in assets in November 2019 and October 2019 respectively, related to 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.
(2) November 2019 advisor services accounts and assets include a net reduction of 2,000 accounts and $390 million in assets from the sale of the self-directed IRA custodial business, which consists primarily of alternative assets, but is not core to E*TRADE Advisor Services' offering.
(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) Beginning November 2019, bank sweep deposits include Premium Savings Accounts participating in sweep deposit account programs. Savings, checking, and other banking assets includes $0.8 billion of Premium Savings Account balances which we plan to convert to the sweep deposit account program.
(6) 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.
(7) 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
© 2019 E*TRADE Financial Corporation. All rights reserved.
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