Arlington, Virginia based online trading and banking firm E*Trade Financial Corporation (NASDAQ:ETFC) has released its monthly activity report for July 2020, indicating that trading slowed down somewhat from what was a very busy June.
Overall, E*Trade reported that Daily Average Revenue Trades (DARTs) for July were 1,014,000, down 9% from June. Derivative DARTs were 273,000, off 2%.
E*Trade did note that trading volume has increased so far in August, with DARTs of 1,084,000 and derivative DARTs of 291,000 through August 12, 2020.
Despite the decline in activity, client margin increased at the company by 6% in July, sitting at $10.0 billion.
E*Trade reported a 49% reduction in net new retail accounts, 45,842 in July versus 89,884 in June. Net new corporate services accounts, however, nearly doubled to 22,465 as compared to 11,582 in June.
Total customer assets at E*Trade continued to rise, totaling $840.7 billion as at July 31, up 8% from June’s $781.8 billion.
E*Trade’s full monthly activity report for July can be seen here.
During July E*Trade’s shareholders voted to approve the company’s $12 billion acquisition by Morgan Stanley. The company expects the acquisition to close in the fourth quarter of 2020.