E*Trade Financial Corp was incorporated in California in 1982 and reincorporated in Delaware in July 1996. The Company is a financial services company. It provides brokerage and related products and services to individual retail investors. It also provides investor-focused banking products; sweep deposits, to retail investors. The Company operates in two segments; trading and investing, and balance sheet management. Trading and investing focuses on: trading, margin and cash management; retirement, investing and saving; and corporate services. The factors used to judge its performance include profitability, customer activity and financial metrics, along with the competitiveness of overall value proposition to the customer and customers' engagement with E*TRADE. Its assess the performance of the balance sheet management segment using metrics such as regulatory capital ratios, loan delinquencies, allowance for loan losses, enterprise net interest spread and average enterprise interest-earning assets. The trading and investing segment offers a comprehensive suite of financial products and services to individual retail investors. The balance sheet management segment serves as a means to maximize the value of its customer deposits, focusing on asset allocation and managing credit, liquidity and interest rate risks. The Company's trading and investing segment competes with full commission brokerage firms, discount brokerage firms, online brokerage firms, personal finance start-ups, Internet banks and traditional "brick & mortar" retail banks and thrifts. The balance sheet management segment competes with all users of market liquidity. The registered trademarks of the Company include E*TRADE, E*TRADE Financial, E*TRADE Bank, Equity Edge, and Converging Arrows. The Company's business is subject to regulation by U.S. federal and state regulatory agencies and various non-U.S. governmental agencies and self-regulatory organizations, including, for example, central banks and securities exchanges, each of which has been charged with the protection of the financial markets and the protection of the interests of those participating in those markets.