The February monthly activity report for the ETRADE Financial Corporation was published on Friday and it shows, based on month-on-month comparison an uptick of 587,122 in Daily Average Revenue Trades. As a company, it offers to its subsidiaries financial services that include services and products to retail customers
In comparing it to January, the Daily Average Revenue Trades came in at 463,739, which means February saw an increase of 27%. If based on a yearly comparison, is it far more significant coming in at 105%.
February saw total daily average revenue trades hit 188,901. That is a 22% increase from January’s 89,432 and a 111% increase from the same time period in 2019. Derivatives represented 32% of those trades which is less than January, which was 32% but this was a minimal change.
The information released by ETRADE comes on the heels of Morgan Stanley revealing its intent to acquire the company in a deal that is anticipated to close at during the last quarter of 2020 and reportedly worth close to $13 million. The all stock deal is the largest of its kind from a bank on Wall Street since the big financial crisis and comes on the heels on its $26 billion all-stock acquisition of TD Ameritrade by Charles Schwab.
It is reported that a share price of $58.74 will be paid by Morgan Stanley, which is a 30.7% premium of its last closing price. The deals agreement stipulates that shareholder will receive 1.0432 Morgan Stanley shares for each ETRADE share.