E*TRADE Financial Corporation ETFC today released its Monthly Activity Report for May 2018.
Daily Average Revenue Trades (DARTs) for May were 253,649, a one percent increase from April and a 20 percent increase from the year-ago period. Derivatives represented 34 percent of DARTs during the month. The Company added 40,261 gross new brokerage accounts in May and ended the month with approximately 3.9 million brokerage accounts—an increase of 22,228 from April.
Net new brokerage assets were $1.4 billion in the month. During the month, customer security holdings increased by $14.4 billion, and brokerage-related cash increased by $0.6 billion to $52.5 billion. Customer margin balances increased $0.1 billion, ending the month at $10.5 billion. Customers were net buyers of approximately $0.4 billion in securities during the month.
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Monthly Activity Data |
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| May-18 | Apr-18 | May-17 | % Chg. M/M | % Chg. Y/Y | ||||||||||||
| Trading days | 22.0 | 21.0 | 22.0 | N.M. | N.M. | |||||||||||
| DARTs (1) | 253,649 | 249,939 | 211,516 | 1% | 20% | |||||||||||
| Derivative DARTs | 85,076 | 86,859 | 66,971 | (2)% | 27% | |||||||||||
| Derivative DARTs %(1) | 34 | % | 35 | % | 32 | % | (1)% | 2% | ||||||||
| Gross new brokerage accounts(1) | 40,261 | 188,056 | 46,839 | (79)% | (14)% | |||||||||||
| Gross new stock plan accounts | 29,799 | 32,358 | 19,884 | (8)% | 50% | |||||||||||
| Gross new banking accounts | 1,372 | 278 | 376 | 394% | 265% | |||||||||||
| Total gross new accounts | 71,432 | 220,692 | 67,099 | (68)% | 6% | |||||||||||
| Net new brokerage accounts(1) | 22,228 | 155,634 | 20,415 | (86)% | 9% | |||||||||||
| Net new stock plan accounts | 15,071 | 18,840 | (3,467 | ) | (20)% | N.M. | ||||||||||
| Net new banking accounts | (213 | ) | (1,757 | ) | (1,346 | ) | 88% | 84% | ||||||||
| Net new accounts | 37,086 | 172,717 | 15,602 | (79)% | 138% | |||||||||||
| End of period brokerage accounts(1) | 3,872,456 | 3,850,228 | 3,552,328 | 1% | 9% | |||||||||||
| End of period stock plan accounts | 1,566,240 | 1,551,169 | 1,467,921 | 1% | 7% | |||||||||||
| End of period banking accounts | 293,111 | 293,324 | 309,950 | —% | (5)% | |||||||||||
| End of period total accounts | 5,731,807 | 5,694,721 | 5,330,199 | 1% | 8% | |||||||||||
| Customer margin balances B(2) | $ | 10.5 | $ | 10.4 | $ | 7.7 | 1% | 36% | ||||||||
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Customer Assets B |
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| Security holdings(1) | $ | 331.5 | $ | 317.1 | $ | 253.4 | 5% | 31% | ||||||||
| Sweep deposits(1) | 37.8 | 37.9 | 33.1 | —% | 14% | |||||||||||
| Customer cash held by third parties(3) | 5.0 | 5.3 | 10.3 | (6)% | (51)% | |||||||||||
| Customer payables (cash) | 9.7 | 8.7 | 8.8 | 11% | 10% | |||||||||||
| Brokerage customer assets | 384.0 | 369.0 | 305.6 | 4% | 26% | |||||||||||
| Unexercised stock plan holdings (vested) | 43.4 | 40.1 | 35.1 | 8% | 24% | |||||||||||
| Savings, checking and other banking assets | 4.8 | 4.7 | 5.2 | 2% | (8)% | |||||||||||
| Total customer assets | $ | 432.2 | $ | 413.8 | $ | 345.9 | 4% | 25% | ||||||||
| Net new brokerage assets(1)(4) | $ | 1.4 | $ | 18.2 | $ | 1.4 | (92)% | —% | ||||||||
| Net new banking assets(4) | 0.1 | (0.3 | ) | (0.1 | ) | N.M. | N.M. | |||||||||
| Net new customer assets(1) | $ | 1.5 | $ | 17.9 | $ | 1.3 | (92)% | 15% | ||||||||
| Brokerage related cash | $ | 52.5 | $ | 51.9 | $ | 52.2 | 1% | 1% | ||||||||
| Other cash and deposits | 4.8 | 4.7 | 5.2 | 2% | (8)% | |||||||||||
| Total customer cash and deposits | $ | 57.3 | $ | 56.6 | $ | 57.4 | 1% | —% | ||||||||
| Managed products | $ | 5.7 | $ | 5.6 | $ | 4.5 | 2% | 27% | ||||||||
| Customer net (buy) / sell activity(1) | $ | (0.4 | ) | $ | (0.9 | ) | $ | (1.8 | ) | 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:
- May 2018: net new brokerage accounts of 699, net new brokerage assets of $76 million, and DARTs of 2,793. Derivative mix excluding post-acquisition activity was 34%.
- April 2018: gross new, net new, and end of period brokerage accounts of 145,891, net new brokerage assets of $18.4 billion, which is reflected within total customer assets and includes $17.2 billion of security holdings and $1.2 billion of sweep deposits, DARTs of 2,700 and customer net buy activity of $0.6 billion. Derivative mix excluding post-acquisition activity was 35%.
(2) Represents margin receivables held on the balance sheet and customer margin balances held by a third party clearing firm. The balances held by a third party were transferred to E*TRADE Securities during August 2017 in connection with the OptionsHouse integration.
(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. During August 2017, customer cash held by a third party clearing firm was transferred to E*TRADE Securities in connection with the OptionsHouse integration. 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
Securities products and services are offered by E*TRADE Securities LLC, Member FINRA/SIPC. Investment advisory services are offered through E*TRADE Capital Management, LLC, a Registered Investment Adviser. Commodity futures and options on futures products and services are offered by E*TRADE Futures LLC, Member NFA. 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 (Member FDIC). E*TRADE Securities LLC, E*TRADE Capital Management, LLC, E*TRADE Futures LLC, and E*TRADE Bank are separate but affiliated companies. More information is available at www.etrade.com.
Important Notices
E*TRADE Financial, E*TRADE, the E*TRADE logo, OptionsHouse 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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