E*TRADE
From Wikipedia, the free encyclopedia
| E*TRADE Financial Corporation | |
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| Type | Public (NASDAQ: ETFC) |
|---|---|
| Founded | Palo Alto, California (1982) |
| Headquarters | New York, New York, USA |
| Key people | Mitchell H. Caplan, CEO George A. Hayter, Chairman Robert J. Simmons, CFO R. Jarrett Lilien, President, COO |
| Industry | Financial Services |
| Products | Trading & Investing, Retirement & Planning, Banking & Credit Cards, Mortgage & Home Equity |
| Revenue |  $2.537 Billion USD (2005) |
| Net income | $430.4 Million USD (2005) |
| Employees | 4705(2006) |
| Slogan | Be E*traordinary (pronounced as "extraordinary") |
| Website | www.etrade.com |
E*TRADE Financial Corporation (NASDAQ: ETFC) is a financial services company based in New York City. It is a holding company, the major business of which is an online discount stock brokerage serving self-directed investors. As a discount brokerage, it charges a smaller fee on each trade than a full-service broker. However, E*TRADE does charge inactivity and maintenance fees (as of 2006, typically $40 per quarter).
Investors can buy and sell securities for their future benefit stocks, bonds, options, mutual funds, and exchange-traded funds on E*TRADE's website, www.etrade.com. The company also offers banking and lending products such as checking and money market accounts, certificates of deposit, credit cards, and mortgages.
E*TRADE is publicly held and its stock is traded on the NASDAQ (NASDAQ) under the symbol ETFC. It was founded in 1982 by William A. Porter and Bernard A. (Bernie) Newcomb as Trade Plus in Palo Alto, California. In 1992 it became E*TRADE. And the following year it debuted on CompuServe as an online trading service. In August, 1996 it went public with Silicon Valley heavyweight Robertson, Stephens & Company as the lead underwriter. Its subsidiaries include E*TRADE Securities LLC, E*TRADE Bank and E*TRADE Clearing LLC. In 2005 E*TRADE Financial acquired Harris Direct, formerly a discount brokerage service of Bank of Montreal, and BrownCo, formerly a discount brokerage service of J.P. Morgan.
E*TRADE is regulated and licensed by the National Association of Securities Dealers.
