E*TRADE

From Wikipedia, the free encyclopedia

*ETRADE Financial**

Type	Public (NYSE: ET)
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)
Website	www.etrade.com

E*TRADE NYSE: ET is a financial services company based in New York City. Its full name is E*TRADE Financial Corporation. It is a holding company primarily known as an online discount stock brokerage serving self-directed investors, many of whom are day traders. As a discount brokerage, it charges a much smaller fee on each trade. 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 Financial Center, San Francisco

E*TRADE is publicly held and its stock is traded on the New York Stock Exchange (NYSE) under the symbol ET. 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. 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.