E*TRADE’s DARTs Slow in August Along With Account Growth

August has proven to be an unkind month for brokerage houses in the US, with E*TRADE seeing a slight decline

E*TRADE Financial Corporation (NASDAQ: ETFC) has just released its monthly metrics report for August 2016, having seen a slight decrease in its monthly DARTs, largely refusing to break out of a recent consolidation that has characterized the brokerage’s performance in H2 2016 thus far, E*TRADE Financial report.

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Looking at its latest volumes in August 2016, E*TRADE’s Daily Average Revenue Trades (DARTs) came in at 143,831, falling by a factor of -2.2% MoM from 147,100 in July 2016. By extension, over a yearly interval, E*TRADE’s August 2016 DARTs were sizably lower, as indicated by a decline of -20.1% YoY, given a DARTs figure of 179,908 set back in August 2015.

Account Growth Slows

However, in terms of E*TRADE’s net new accounts, the group managed to secure an increase of 8,840 gross new accounts in August 2016 – while this figure represents continued account growth, it is weaker when weighed against the prior month. July 2016 had added 11,288 new accounts, which represents -21.7% MoM, largely influenced by one of the slowest trading months of the year, largely mired in low volatility. In total, this brings the company’s overall accounts to approximately 5.07 million in August 2016, up from 5.06 million in July 2016.

Finally, E*TRADE also saw its customer security holdings yield a figure of $299.9 million during August 2016, virtually unchanged MoM against the $298.8 million set in July 2016, though 4.5% higher YoY from $287.2 million in August 2015.

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