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E*TRADE Financial Corporation Reports Monthly Activity for May 2019

Business Wire 14-Jun-2019 8:05 AM

E*TRADE Financial Corporation (NASDAQ:ETFC) today released its Monthly Activity Report for May 2019.

Monthly Activity Data     May-19       Apr-19       May-18       % Chg. M/M       % Chg. Y/Y
Trading days 22.0     21.0     22.0     N.M.       N.M.
 
DARTs 279,058 272,858 245,350 2% 14%
Derivative DARTs 93,264 87,231 84,128 7% 11%
Derivative DARTs % 33 % 32 % 34 % 1% (1)%
 
Margin receivables (NYSE:B) $ 10.4 $ 10.0 $ 10.5 4% (1)%
 
Net new retail accounts 14,310 1,219 21,015 N.M. (32)%
Net new advisor services accounts (173 ) 52 699 N.M. N.M.
Net new corporate services accounts(1)     2,098         18,202         15,071         (88)%       (86)%
Net new accounts 16,235 19,473 36,785 (17)% (56)%
 
End of period retail accounts 5,104,126 5,089,816 3,983,945 —% 28%
End of period advisor services accounts 151,101 151,274 146,590 —% 3%
End of period corporate services accounts     1,838,283         1,836,185         1,566,240         —%       17%
End of period accounts 7,093,510 7,077,275 5,696,775 —% 25%
 
Net new retail assets (NYSE:B)(2) $ 1.3 $ (0.7 ) $ 1.4 N.M. (7)%
Net new advisor services assets (NYSE:B)(2)     —         (0.1 )     0.1         (100)%       (100)%
Net new retail and advisor services assets (NYSE:B) $ 1.3 $ (0.8 ) $ 1.5 N.M. (13)%
 

Total Customer Assets (NYSE:B)

Security holdings $ 269.9 $ 287.6 $ 256.0 (6)% 5%
Cash and deposits     60.5         61.7         57.3         (2)%       6%
Retail and advisor services assets $ 330.4 $ 349.3 $ 313.3 (5)% 5%
Corporate services vested assets(1)     131.3         146.5         118.9         (10)%       10%
Retail, advisor services, and corporate

services vested assets

$ 461.7 $ 495.8 $ 432.2 (7)% 7%
Corporate services unvested holdings(1)     106.3         119.6         102.2         (11)%       4%
Total customer assets $ 568.0 $ 615.4 $ 534.4 (8)% 6%
 

Net (Buy) / Sell Activity (NYSE:B)

Retail net (buy) / sell activity $ (2.6 ) $ 1.0 $ (0.4 ) N.M. N.M.
Advisor services net (buy) / sell activity     0.1         —         —         N.M.       N.M.
Net (buy) / sell activity $ (2.5 ) $ 1.0 $ (0.4 ) N.M. N.M.
 

Total Cash and Deposits (NYSE:B)

Sweep deposits $ 37.0 $ 38.0 $ 37.8 (3)% (2)%
Customer payables 10.1 10.8 9.7 (6)% 4%
Savings, checking and other banking assets     8.2         7.9         4.8         4%       71%
Total on-balance sheet cash $ 55.3 $ 56.7 $ 52.3 (2)% 6%
Sweep deposits at unaffiliated financial institutions 3.4 3.3 3.5 3% (3)%
Money market funds and other     1.8         1.7         1.5         6%       20%
Total customer cash held by third parties(3)     $ 5.2         $ 5.0         $ 5.0         4%       4%
Total cash and deposits $ 60.5 $ 61.7 $ 57.3 (2)% 6%
 
(1)

Corporate services accounts and assets include outflows of 13,000 accounts, $2.1 billion of vested assets, and $0.6 billion of unvested holdings, related to the termination of a large corporate client in May 2019, which was anticipated.

(2) Net new retail and advisor services assets exclude the effects of market movements in the value of retail and advisor services assets.
(3) 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. Customer cash held by third parties is not reflected in the Company's 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

E*TRADE Financial and its subsidiaries provide financial services including brokerage and banking products and services to traders, investors, stock plan administrators and participants and registered investment advisors (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 Advisor. 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). E*TRADE Securities LLC, E*TRADE Capital Management, LLC, E*TRADE Futures LLC, E*TRADE Bank and E*TRADE Savings Bank 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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