E*TRADE (ETFC) Reports February Activity

E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) released its Monthly Activity Report for February. Customer cash and deposits increased by nearly $1 billion in February, representing the third consecutive monthly increase. Total retail customer assets, which includes customer cash and securities holdings, declined 1.7% month over month to $171 billion. This decline was the net result of an increase in customer cash balances, offset by a decline in the value of customer securities holdings. The decrease in customer securities holdings was less than that of the overall market, aided by a return to positive net new customer asset flows during the month.

E*TRADE generated 43,000 net new accounts in the month - more than double January's growth. The growth in net new accounts was driven by continued strength in new account openings and a reduction in attrition levels. End of period retail accounts totaled 4.8 million, up 0.9% month over month and 6.1% year over year.

Total Daily Average Revenue Trades decreased 17% month over month, consistent with the weaker market trends in February.[SM]

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