E*TRADE Financial Corporation has published its Monthly Activity Report for February 2020 this Friday, revealing an uptick in the Daily Average Revenue Trades (DARTs) on a month-on-month comparison.
E*TRADE provides financial services through its subsidiaries, including brokerage and banking products and services to retail customers. Specifically, during the month of February, DARTs was 587,122.
When measuring this against the previous month, which had DARTS of 463,739 this represents an increase of 27 percent. On a yearly measurement, the DARTS increased by a significant 105 percent, up from 286,864 in February of 2019.
During February, the total derivative DARTs was 188,901. This represents an increase of 22 percent from the 89,432 derivative DARTs in the previous month. On a yearly comparison, it has risen by 111 percent.
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Out of the total DARTs during the month, derivatives represented 32 percent, coming in at 188,901. This is less than the share derivatives achieved in January, which was 155,177 or 33 percent of the total DARTs.
The data released this Friday follows less than a month after Morgan Stanley revealed that it would be acquiring E*Trade, a discount brokerage, in a deal worth around $13 million. The transaction is expected to close in the final quarter of this year.
The all-stock deal is the biggest transaction made by a Wall Street bank since the financial crisis and follows last year’s $26 billion all-stock purchase of TD Ameritrade by Charles Schwab.
As Finance Magnates reported, Morgan Stanley will pay $58.74 a share in stock for E*Trade, at a premium of 30.7 percent to the last closing price of E*Trade shares. Under the agreement, shareholders of the discount brokerage will receive 1.0432 Morgan Stanley shares for each share.