Multi-asset brokerage E-Trade Financial Corp., operating under the E-Trade brand, said on Wednesday its clients generated daily average revenue trades (DARTs) of 143,831 in August 2016, the lowest since October 2015. The figure represents a decrease of 2.2% from the preceding month and a drop of 20% from the same month a year earlier.
The total number of accounts with E-Trade numbered 5,069,996 at the end of last month. Brokerage accounts increased by just 7,308 in August, growing to 3,284,785, or slightly up by 2.5% year-on-year.
Client accounts with the broker had combined assets of $263.7 billion in August, which is slightly higher by $0.9 billion, or 0.8%, on the month and up by 7.8% compared to a year earlier. Overall, from all segments of operations, the broker’s assets amounted to $299.9 billion.
Following is more information about E-Trade’s monthly metrics for last month:
In comparison, US brokerage Interactive Brokers posted DARTs of 576,000 in August (-4% m/m, -22% y/y), which is the lowest value not only in 2016 but also since the end of 2014.
Aughtough most other brokers usually publish data about trading volumes, instead of DARTs, it is clear that August has been tough for everyone in the industry as all brokers that publish monthly trading metrics saw their metrics fall the the lowest so far this year.
New York-based E-Trade Financial Corp., offers various financial services, online brokerage and banking services. It works primarily with retail clients through its 30 offices across the US. Recently, the company finalized the acquisition of Aperture New Holdings Inc., the indirect parent company of OptionsHouse. The move aims to expand its customer profile with the move.
The holding company has three subsidiaries – 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.