E*TRADE’s July DARTS Hold a Tight Consolidation, New Accounts Swell

E*TRADE's monthly metrics were a mixed bag in July, highlighted by strong account growth MoM.

E*TRADE Financial Corporation (NASDAQ: ETFC) has released its monthly metrics report for July 2016, which saw its DARTs held in a tight consolidation, albeit skewed to the downside MoM, according to an E*TRADE Financial statement.

Take the lead from today’s leaders. FM London Summit, 14-15 November, 2016. Register here!

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Suggested articles

ACY Securities Asia Trading Cup Returns for 2nd YearGo to article >>

Per the latest volumes in July 2016, E*TRADE’s Daily Average Revenue Trades (DARTs) came in at 147,100, falling by a margin of -1.2% MoM from 148,941 in June 2016. By extension, over a yearly interval, E*TRADE’s July 2016 performance was also lower, albeit by the same factor of -1.5% YoY, given a DARTs figure of 149,283 set back in July 2015.

Account Growth

In terms of E*TRADE’s brokerage accounts, the group secured an increase of 11,288 gross new accounts in July 2016 – this represented a healthy rise, especially when measured against the prior month. June 2016 had added 9,273 new accounts, which represents 21.7% MoM – in total, this brings the company’s overall accounts to approximately 5.06 million.

Furthermore, E*TRADE also saw its customer security holdings yield a figure of $298.8 million during July 2016, up 4.5% MoM against the $285.9 million set in June 2016, though -2.0% lower YoY from $304.9 million in April 2015.

Got a news tip? Let Us Know