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E*TRADE Financial Corporation Reports Monthly Activity For October 2013

E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for October 2013.

Daily Average Revenue Trades (“DARTs”) for October were 159,703, a nine percent increase from September and a 29 percent increase from the year-ago period. The Company added 30,276 gross new brokerage accounts in October, ending the month with approximately 3.0 million brokerage accounts – an increase of 3,193 from September.

Net new brokerage assets were $1.0 billion in the month. During the month, customer security holdings increased by four percent, or $6.4 billion, and brokerage-related cash increased by $0.4 billion to $38.6 billion. Bank-related cash and deposits ended the month unchanged at $6.4 billion. Customers were net buyers of approximately $0.7 billion in securities during the month.

Monthly Activity Data

                   
Oct-13 Sep-13 Oct-12 % Chg. M/M % Chg. Y/Y
 
 
Trading days 23.0 20.0 21.0 N.M. N.M.
 
DARTs 159,703 147,116 124,246 8.6 % 28.5 %
 
Gross new brokerage accounts 30,276 24,761 23,365 22.3 % 29.6 %
Gross new stock plan accounts 19,324 14,477 14,164 33.5 % 36.4 %
Gross new banking accounts   735     751     857   (2.1 )% (14.2 )%
Total gross new accounts 50,335 39,989 38,386 25.9 % 31.1 %
 
Net new brokerage accounts 3,193 5,504 (5,153 ) N.M. N.M.
Net new stock plan accounts (2,836 ) (422 ) 2,251 N.M. N.M.
Net new banking accounts   (3,274 )   (2,247 )   (3,608 ) N.M. N.M.
Net new accounts (2,917 ) 2,835 (6,510 ) N.M. N.M.
 
End of period brokerage accounts 2,979,035 2,975,842 2,887,699 0.1 % 3.2 %
End of period stock plan accounts 1,201,856 1,204,692 1,121,091 (0.2 )% 7.2 %
End of period banking accounts   403,146     406,420     434,276   (0.8 )% (7.2 )%
End of period total accounts 4,584,037 4,586,954 4,443,066 (0.1 )% 3.2 %
 

Customer Assets ($B)

Security holdings $ 169.2 $ 162.8 $ 138.6 3.9 % 22.1 %
Customer payables (cash) 6.1 5.8 5.5 5.2 % 10.9 %
Customer assets held by third parties (1) 13.1 12.9 5.9 1.6 % 122.0 %
Unexercised stock plan customer options (vested)   33.6     33.2     21.3   1.2 % 57.7 %
Customer assets in brokerage and stock plan accounts   222.0     214.7     171.3   3.4 % 29.6 %
Sweep deposits 19.4 19.5 20.3 (0.5 )% (4.4 )%
Savings, transaction and other   6.4     6.4     7.1   0.0 % (9.9 )%
Customer assets in banking accounts   25.8     25.9     27.4   (0.4 )% (5.8 )%
Total customer assets $ 247.8 $ 240.6 $ 198.7 3.0 % 24.7 %
 
Net new brokerage assets ($B) (2) $ 1.0 $ 0.7 $ 0.3 N.M. N.M.
Net new banking assets ($B) (2)   (0.1 )   (0.0 )   (0.1 ) N.M. N.M.
Net new customer assets ($B) (2) $ 0.9 $ 0.7 $ 0.2 N.M. N.M.
 
Brokerage related cash ($B) $ 38.6 $ 38.2 $ 31.7 1.0 % 21.8 %
Other customer cash and deposits ($B)   6.4     6.4     7.1   0.0 % (9.9 )%
Total customer cash and deposits ($B) $ 45.0 $ 44.6 $ 38.8 0.9 % 16.0 %
 
Customer net (purchase) / sell activity ($B) $ (0.7 ) $ 0.8 $ (1.3 ) N.M. N.M.
 

(1) Customer assets held by third parties are held outside E*TRADE Financial and include money market funds and sweep deposit accounts at unaffiliated financial institutions.

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