E*TRADE Financial Corporation (NASDAQ: ETFC) has just released its latest tranche of monthly metrics, which in the month of January 2017 managed to secure a steady rise in DARTs, according to a recent E*TRADE statement.
In January 2017, E*TRADE revealed that Daily Average Revenue Trades (DARTs) pointed higher, coming in at 201,464 a day, up by a factor of 2.1% MoM from 186,196 in December 2016. Over a yearly interval E*TRADE’s January 2017 DARTs were also higher, as indicated by a jump of 15% YoY, given a DARTs figure of 175,346 set back in January 2016.
InstaForex Partners Pay Tribute to Loprais Team in Prague VisitGo to article >>
In terms of E*TRADE’s net new accounts, the group saw a substantial increase after adding 42,055 gross new brokerage accounts in January 2017, compared to only 29,666 set back in December 2016, which reflects a full 42.0% advance. However, it should be noted that the strong jump in net new accounts included accounts acquired as part of the OptionsHouse’s acquisition deal.
While this figure represents a move higher over a monthly timeframe, it is also better when weighed against last month, as new brokerage accounts were up 26.0% month-on-month from 33,250 in December 2016. In addition, net new brokerage accounts last year included the closure of 753 accounts related to the shutdown of the company’s global trading platform.
In total, this brings the company’s overall accounts to approximately 5.25 million in January 2017, which reflected a marginal increase of 6 percent compared to 4.97 million in January 2016, but nearly unchanged across the monthly interval.
Another area of strength for the month was E*TRADE’s brokerage customer assets which orchestrated a rise up to 320.1 million last month, up 20 percent YoY from $265.9 million in 2016. Meanwhile, the month on month comparison also shows an increase of 3 percent from $311.3 million in the prior month.