- E*Trade (ETFC) agrees to sell its market-making business - G1 Execution Services - to an affiliate of Susquehanna Investment Group for $75M, an amount significantly less than the $100M-$200M tossed about when the unit was put on the block this summer. E*Trade agrees to route 70% of customer orders through G1 over the next five years.
- Q3 DARTs of 145K fall 3% sequentially, but are up 13% from a year ago.
- Net operating interest income of $241M is off from $243M from Q2, $261M a year ago. Net interest spread of 2.30% falls 5 basis points from last quarter.
- The loan portfolio slims another $500M to $9B, with the loan loss provision of $37M down from $46M last quarter.
- Shares -3.3% AH.
- Conference call at 5 ET.
- Q3 results, press release.
E*Trade sells market-making business to SIG for $75M
Oct 23 2013, 16:47 ET