E-Trade’s DARTs grow 19% m/m in Jan 2016

E-Trade’s DARTs grow 19% m/m in Jan 2016

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E-Trade Financial Corp. reported on Friday its daily average revenue trades (DARTs) increased by a monthly 19% to 175,346 in January 2016. The figure represents a slight increase of 1% if compared to the same month a year earlier.

Compared to the previous month, the broker registered an improvement in most of its metrics for January.  Both DARTs and  brokerage accounts went up on a monthly and a yearly basis, alike. Highlights of E-Trade’s monthly performance in the first month of the year follow:

  • DARTs numbered 175,346, or up 18.7% m/m and 1.4% y/y
  • Total brokerage accounts exceeded 3.2 million, or up by 0.1% m/m and 2.1% y/y
  • Gross new brokerage accounts totaled 29,666 at end-January, posting an increase of 8% m/m and a drop of 4.3%y/y
  • Brokerage customer assets were $231.4 bln at end-January, or down 5.7% m/m and 5.1% y/y
  • Net new brokerage assets added were $1 billion

The company also published data about its stock planning and banking operations, as well as metrics for its overall performance in January. Detailed information follows:

e-trade jan 2015

The amount of net new brokerage accounts includes the closure of 1,440 accounts that were closed in the first month of the year due to the discontinuation of E-Trade’s businesses in Hong Kong and Singapore, as well as additional 633 accounts closed in December 2015 after the group shut off its global trading platform.

In comparison, the DARTs of US-based automated forex broker Interactive Brokers totaled 830,000 in January. It handled a total of 335,000 client accounts last month. Meanwhile, Monex Group, a Japanese forex brokerage, registered in January 359,627 DARTs per trading day from global operations. Its clients operated 987,953 active accounts.

New York-based E-Trade Financial Corp, operating under the E-Trade brand, offers various financial services, online brokerage and banking services. It works primarily with retail clients.

It has three susbidiaries – E-Trade Securities for securities products and services, including stocks, bonds mutual funds, options, and ETFs; E-Trade Capital Management for managed account solutions; and E-Trade Bank for bank products and services.

The broker operates 30 offices across the US.

Source: E-Trade


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