(Source: Business Wire)
E*TRADE FINANCIAL Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for July. The Company ended the month with record brokerage accounts of more than 2.7 million, including gross new brokerage accounts of 30,019 and net new brokerage accounts of 7,467. Total accounts ended the month at more than 4.5 million. Total Daily Average Revenue Trades ("DARTs") for July were 176,180 -- a decrease of 10.3 percent from June and 3.6 percent from the year ago period.
Brokerage related cash increased 6.2 percent in July, while security holdings increased 8.1 percent. This was offset by a $415 million reduction in Bank related customer cash and deposits, as the Company continued to execute on its balance sheet reduction strategy. This led to a 6.6 percent increase in total customer assets in the month and flat net new customer assets. Customers were net sellers of approximately $800 million in securities in July.
Monthly Activity Data
Jul-09 Jun-09 Jul-08 % Chg. M/M % Chg. Y/Y Trading days 22.0 22.0 21.5 N.M. N.M. Daily Average Revenue Trades 176,180 196,319 182,835 (10.3)% (3.6)% Gross new brokerage accounts 30,019 38,161 38,466 (21.3)% (22.0)% Gross new stock plan accounts 12,496 13,167 16,973 (5.1)% (26.4)% Gross new banking accounts 3,406 4,103 20,901 (17.0)% (83.7)% Total gross new accounts 45,921 55,431 76,340 (17.2)% (39.8)% Net new brokerage accounts 7,467 (1,512) 10,555 N.M. N.M. Net new stock plan accounts (9,696) 3,211 2,822 N.M. N.M. Net new banking accounts (12,052) (14,693) 2,702 N.M. N.M.
