E*TRADE Financial Corporation (NASDAQ: ETFC) published its August’s monthly trading volume numbers on Tuesday, showing a 2.3 percent month-on-month increase in the Daily Average Revenue Trades (DARTs), totaling 1,037,532 a day.
The derivatives DARTs for the month stood at 286,680, a month-on-month jump of 4.91 percent. It also highlighted that the percentage of derivatives DART for August was 28 percent of the total monthly trades.
Comparing year-on-year, August 2020’s DARTs numbers jumped by 255 percent with an absolute number of 291,576 in August 2019, while the derivatives DARTs increased by 179 percent.
Last month, Finance Magnates reported on the 9 percent month-on-month decline of E*TRADE’s trading numbers.
New Investors Are Jumping into Investing
E*TRADE offers a range of brokerage services on its electronic trading platform, including common stocks, preferred stocks, futures contracts, Exchange -traded funds, options, mutual funds, and fixed-income investments.
Additionally, the recent disclosure highlighted that the New York-based firm gained 80,507 new retail clients in August along with 17,514 new corporate accounts, these numbers were at 45,842 and 22,465 for the previous month.
With the new client addition, E*TRADE had 5,951,614 total retail accounts and 2,019,886 corporate accounts by the end of August.
Moreover, the company saw a significant surge in its client assets with a year-on-year hike of 242 percent in new retail client assets and a 100 percent surge in the new advisory services assets. The total customer assets of the company increased by 13 percent month-on-month and 57 percent year-on-year.
Furthermore, the volume report included the trading figures until September 11 on the platform, showing a solid surge in demand. In a third of the month, the company recorded total DARTs of 1,205,000 and derivative DARTs of 346,000.
