E*TRADE ends July with over 2.7 million brokerage accounts

E*TRADE FINANCIAL Corporation released its Monthly Activity Report for July. The report shows that 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.

Further the report reveals that 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.

E*TRADE FINANCIAL family of companies provides financial services including online brokerage and related banking products and services to retail investors. Specific business segments include Trading and Investing, and Balance Sheet Management. Securities products and services are offered by E*TRADE Securities LLC (Member FINRA/SIPC). Bank products and services are offered by E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries.