E*TRADE Financial Corporation has published its Monthly Activity Report for February 2019 this Tuesday, revealing an uptick in the Daily Average Revenue Trades (DARTs) on a month-on-month comparison.
E*TRADE through its subsidiaries, including brokerage and banking products and services to retail customers. Specifically, during the month of February DARTs for February was 298,395.
This represents a 6 per cent increase from the previous month, which had DARTs of 282,499. However, , February of 2019’s figure is less by 10 per cent.
Out of the total DARTs during the month, derivatives represented 30 per cent, coming in at 88,675. This is less than the share derivatives achieved in January, which was 92,511 or 33 per cent of the total DARTs.
Brokerage Accounts Grow on E*TRADE in February
Throughout the month of February, E*TRADE added 54,706 gross new brokerage accounts, ending the month with around 4.9 million brokerage accounts. When measured against January of 2019, this is an increase of 29,992 accounts.
In January, , with the group adding 90,174 gross new brokerage accounts in January 2019, compared to the 74,598 set back in December, and 91,667 in January 2018. The figure reflects the impact of its recent acquisition of brokerage accounts from Capital One, including post-acquisition activity.
The total gross accounts comprise of three segments – gross new brokerage accounts, gross new stock plan accounts and gross new banking accounts. Out of the three, brokerage accounts was the only segment to improve on a month-on-month basis, however, this growth was strong enough to see total gross accounts still increase by 0.7 per cent month-on-month.
Across February, E*TRADE reported 147 net new brokerage accounts. This is less than that achieved in the previous month by 206 accounts or 58.4 per cent. Brokerage customer assets by the end of the period, however, still managed to increase by 1.6 per cent month-on-month to reach $19.2 billion.
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