E*TRADE Financial (ETFC) DARTs Fell 2% in July 2016

August 12, 2016 8:07 AM EDT

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E*TRADE Financial Corporation (NASDAQ: ETFC) released its Monthly Activity Report for July 2016.

Daily Average Revenue Trades ("DARTs") for July were 147,100, a one percent decrease from June and a two percent decrease from the year-ago period. The Company added 22,899 gross new brokerage accounts in July and ended the month with approximately 3.3 million brokerage accounts — an increase of 387 from June.

Net new brokerage assets were $0.3 billion in the month. During the month, customer security holdings increased four percent, or $7.9 billion, and brokerage-related cash increased by $2.0 billion to $45.0 billion. Bank-related cash and deposits remained flat, ending the month at $5.2 billion. Customers were net sellers of approximately $2.0 billion in securities during the month.

Monthly Activity Data

Jul-16 Jun-16 Jul-15 % Chg. M/M % Chg. Y/Y
Trading days 20.0 22.0 22.0 N.M. N.M.
DARTs 147,100 148,941 149,283 (1.2)% (1.5)%
Gross new brokerage accounts 22,899 25,448 29,623 (10.0)% (22.7)%
Gross new stock plan accounts 25,192 23,207 68,648 8.6% (63.3)%
Gross new banking accounts 323 367 391 (12.0)% (17.4)%
Total gross new accounts 48,414 49,022 98,662 (1.2)% (50.9)%
Net new brokerage accounts(1) 387 3,776 (11,877) N.M. N.M.
Net new stock plan accounts 12,095 7,853 52,045 N.M. N.M.
Net new banking accounts (1,194) (2,356) (2,107) N.M. N.M.
Net new accounts 11,288 9,273 38,061 N.M. N.M.
End of period brokerage accounts(1) 3,277,477 3,277,090 3,189,449 0.0% 2.8%
End of period stock plan accounts 1,455,148 1,443,053 1,346,002 0.8% 8.1%
End of period banking accounts 328,531 329,725 348,846 (0.4)% (5.8)%
End of period total accounts 5,061,156 5,049,868 4,884,297 0.2% 3.6%
Customer Assets ($B)
Security holdings $216.7 $208.8 $215.7 3.8% 0.5%
Sweep deposits 27.5 27.8 20.1 (1.1)% 36.8%
Customer assets held by third parties(2) 10.0 8.5 14.6 17.6% (31.5)%
Customer payables (cash) 7.5 6.7 6.5 11.9% 15.4%
Brokerage customer assets 261.7 251.8 256.9 3.9% 1.9%
Unexercised stock plan customer holdings (vested) 31.9 28.9 42.5 10.4% (24.9)%
Savings, checking and other banking customer assets 5.2 5.2 5.5 0.0% (5.5)%
Total customer assets $298.8 $285.9 $304.9 4.5% (2.0)%
Net new brokerage assets(3) $0.3 $0.8 $0.2 N.M. N.M.
Net new banking assets(3) 0.0 0.0 0.0 N.M. N.M.
Net new customer assets(3) $0.3 $0.8 $0.2 N.M. N.M.
Brokerage related cash $45.0 $43.0 $41.2 4.7% 9.2%
Other customer cash and deposits 5.2 5.2 5.5 0.0% (5.5)%
Total customer cash and deposits $50.2 $48.2 $46.7 4.1% 7.5%
Customer net (buy) / sell activity $2.0 $(1.2) $(1.1) N.M. N.M.

(1)

Net new brokerage and end of period accounts in July 2015 include the closure of 14,604 accounts related to the shutdown of the Company's global trading platform.

(2)

Customer assets held by third parties are held outside E*TRADE Financial and include money market funds and sweep deposit accounts at unaffiliated financial institutions.

(3)

Net new customer assets are total inflows to all new and existing customer accounts less total outflows from all closed and existing 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.



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