E*TRADE Financial (ETFC) November DARTs Up 40%

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December 14, 2016 8:30 AM UTC

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

Daily Average Revenue Trades ("DARTs") for November were 208,420, a 24 percent increase from October and a 40 percent increase from the year-ago period. Derivatives represented 28 percent of DARTs during the month. The Company added 38,140 gross new brokerage accounts in November and ended the month with approximately 3.5 million brokerage accounts—an increase of 19,138 from October.

Net new brokerage assets were $1.6 billion in the month. During the month, customer security holdings increased by $4.4 billion, and brokerage-related cash increased by $2.2 billion to $50.3 billion. Customer margin balances decreased $0.1 billion, ending the month at $7.0 billion. Customers were net sellers of approximately $1.1 billion in securities during the month.

Monthly Activity Data

Nov-16 Oct-16 Nov-15 % Chg. M/M % Chg. Y/Y
Trading days 20.5 21.0 19.5 N.M. N.M.
DARTs 208,420 168,739 148,777 23.5% 40.1%
Derivatives DARTs % 28% 31% 25% N.M. N.M.
Gross new brokerage accounts 38,140 30,747 27,698 24.0% 37.7%
Gross new stock plan accounts 15,875 27,075 22,292 (41.4)% (28.8)%
Gross new banking accounts 259 312 355 (17.0)% (27.0)%
Total gross new accounts 54,274 58,134 50,345 (6.6)% 7.8%
Net new brokerage accounts(1) 19,138 (630) 7,255 N.M. N.M.
Net new stock plan accounts (8,578) 8,865 6,961 N.M. N.M.
Net new banking accounts (5,455) (1,381) (1,281) N.M. N.M.
Net new accounts 5,105 6,854 12,935 N.M. N.M.
End of period brokerage accounts(1) 3,457,483 3,438,345 3,211,149 0.6% 7.7%
End of period stock plan accounts 1,454,708 1,463,286 1,391,486 (0.6)% 4.5%
End of period banking accounts 317,814 323,269 341,412 (1.7)% (6.9)%
End of period total accounts 5,230,005 5,224,900 4,944,047 0.1% 5.8%
Customer margin balances ($B)(2) 7.0 7.1 7.5 (1.4)% (6.7)%

Customer Assets ($B)
Security holdings $222.5 $218.1 $211.2 2.0% 5.4%
Sweep deposits 26.3 26.5 22.8 (0.8)% 15.4%
Customer assets held by third parties(3) 15.8 14.1 12.3 12.1% 28.5%
Customer payables (cash) 8.2 7.5 6.6 9.3% 24.2%
Brokerage customer assets 272.8 266.2 252.9 2.5% 7.9%
Unexercised stock plan customer holdings (vested) 30.5 29.0 37.7 5.2% (19.1)%
Savings, checking and other banking customer assets 5.2 5.2 5.3 0.0% (1.9)%
Total customer assets $308.5 $300.4 $295.9 2.7% 4.3%
Net new brokerage assets(4) $1.6 $0.2 $1.0 N.M. N.M.
Net new banking assets(4) — — — N.M.

N.M.

Net new customer assets(4) $1.6 $0.2 $1.0 N.M. N.M.
Brokerage related cash $50.3 $48.1 $41.7 4.6% 20.6%
Other customer cash and deposits 5.2 5.2 5.3 0.0% (1.9)%
Total customer cash and deposits $55.5 $53.3 $47.0 4.1% 18.1%
Managed products $3.7 $3.6 $3.2 2.8% 15.6%
Customer net (buy) / sell activity $1.1 $(0.7) $(0.2) N.M. N.M.
(1) Net new brokerage accounts include the closure of 1,621 accounts in November 2015 related to the shutdown of the Company's global trading platform.
(2) Customer margin balances include margin receivables held on the balance sheet and customer margin balances held by a third party.
(3) 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 and customer cash held at a third party clearing firm.
(4) 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.

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