About the Company
E-TRADE Financial Corporation, stylised as E*TRADE, is an electronic platform that enables the online trading of financial assets. The company traces its roots to 1982, when its predecessor, TradePlus, was incorporated. E-Trade Financial Corporation is considered as a pioneer in online trading. The company first began its operations as a back-office online processing service provider to discount brokerage firms. E*TRADE was launched in 1992 as the first online trading platform for retail investors. Its business model adopted a “direct to consumer” strategy in trade, thereby eliminating the need of human brokers. The brokerage industry witnessed a new era of online trading with the launch of E*TRADE.
In 1996, E-Trade Financial Corporation went public via an initial public offering. The company made several acquisitions throughout its years of operation. In 2000, it acquired Telebanc Financial Corp for $1.8 billion. It bought-off Harrisdirect, its competitor brokerage firm, for a purchase price of $700 million in 2005. That same year, E*TRADE acquired JPMorgan Chase’s Brown & Company (BrownCo) in a transaction of $1.6 billion. In 2016, it purchased the OptionsHouse for $725 million. E*TRADE announced the acquisition of the Trust Company of America (TCA) in 2017, in a $275 million transaction. Forbes recognized ETFC as one of America’s Largest Public Companies in 2018.
As of 2020, It operated through several subsidiaries such as ETRADE Capital Management LLC, ETRADE Securities LLC, ETRADE Futures LLC, ETB Holdings, Inc., ETP Holdings, Inc., and others. It is headquartered in Virginia, United States with thirty retail branches located across the country. These locations include Los Angeles, San Diego, Las Vegas, Palo Alto, Roseville and San Francisco. In 2020, E*TRADE was considered as one of the best online stock brokers. It ranked 912th on Forbes’ list of Global 2000 companies. E*TRADE shares traded on the NASDAQ Stock Exchange under the ticker symbol “ETFC”.
In 2020, Morgan Stanley completed the acquisition of E*TRADE Financial Corporation in an all-stock transaction worth approximately $13 billion. ETFC shares last traded on the NYSE on October 1st, 2020.;
Organisation | E*Trade Finl Corp |
Industry | Capital Markets |
HeadQuarters | Arlington, VA |