NEW YORK, July 19 /PRNewswire-FirstCall/ -- E*TRADE FINANCIAL
Corporation (NYSE: ET) today announced that its wholly-owned subsidiary,
E*TRADE Securities LLC, has made available new conditional orders for
retail customers including Trailing Stops for options and group orders such
as Contingent, One- Cancels-All, One-Triggers-All and
One-Triggers-One-Cancels-Other orders - all with flat commissions that are
already among the industry's most competitive: as low as $6.99 per stock or
options trade and 75¢ per options contract. When combined with conditional
order functionality already available to customers such as Trailing Stops
and Bracketed orders for stocks, E*TRADE customers can stay on top of the
market by managing risk and trading with discipline. The new conditional
orders are currently available on Power E*TRADE Pro, and will be made
available on http://www.etrade.com in August 2006.(1)
Conditional orders enable stock and options traders to determine entry
and exit strategies up-front, helping them lock in gains, limit losses and
automatically execute trading plans. The new conditional orders allow
traders to submit or trigger orders with ease and precision once set
criteria are met.
"Smart investors look to E*TRADE to provide superior technology that
allows them to customize orders even when they are away from their
computers," said Michael Curcio, Managing Director, Global Retail Business,
E*TRADE FINANCIAL. "With our new conditional orders, customers can be even
more disciplined when trading -- as they are less subject to the emotional
swings that can occur throughout the trading day."
E*TRADE Securities now offers the following suite of conditional orders
on stocks and options:
-- Trailing Stops (new for options): A stop order that adjusts
automatically if the stock or options price moves in a customer's
favor.
-- Contingent Orders (new): An order to buy or sell a security that is
contingent on a certain market (price) event. It can be placed on
stock, options or an index.
-- Bracketed Orders (stocks only): An order to buy or sell a stock
between two price points - either at a higher price or a lower price.
-- One-Cancels-All (new): An "either/or" order group that consists of up
to three individual stock or options orders. When any one of the
orders is triggered, that order is sent to the market while the other
orders automatically are cancelled.
-- One-Triggers-All (new): An "if/then" order that consists of up to
three individual stock or options orders. Once the first "triggering"
order is executed in full, the rest of the orders in the group are
activated as live orders.
-- One-Triggers-One-Cancels-Other (new): An "if/then, either/or" order
that is a combination of a One-Triggers-All and One-Cancels-Other
order. Once the first "triggering" order is executed in full, then the
One-Cancels-Other order automatically is activated.
About E*TRADE FINANCIAL
The E*TRADE FINANCIAL family of companies provides financial services
including trading, investing, cash management and lending for Retail and
Institutional customers. Securities products and services are offered by
E*TRADE Securities LLC (Member NASD/SIPC). Bank and lending products and
services are offered by E*TRADE Bank, a Federal savings bank, Member FDIC,
or its subsidiaries. Lending products are subject to credit approval.
Important Notices
E*TRADE FINANCIAL and the E*TRADE FINANCIAL logo are registered
trademarks or trademarks of E*TRADE FINANCIAL Corporation. The statements
contained in this news release that are forward-looking are based on
current expectations that are subject to a number of uncertainties and
risks, and actual results may differ materially. The uncertainties and
risks include, but are not limited to, changes in market activity,
anticipated increases in the rate of new customer acquisition, the
conversion of new visitors to the site to customers, the activity of
customers and assets held at the institution, seasonality, the development
and enhancement of products and services, competitive pressures (including
price competition), system failures, economic and political conditions,
changes in consumer behavior and the introduction of competing products
having technological and/or other advantages. Further information about
these risks and uncertainties can be found in the information included in
the annual reports previously filed by E*TRADE Group, Inc. or E*TRADE
FINANCIAL Corporation with the SEC on Form 10-K (including information
under the caption "Risk Factors") and quarterly reports on Form 10-Q.
(1) To qualify for Power E*TRADE, you must execute at least 30 stock or
options trades during a calendar quarter. Commission rates for Power
E*TRADE customers that execute between 30-149 stock or options trades
a quarter are $9.99 (plus an additional $0.75 per options contract)
and $6.99 for Power E*TRADE customers that execute at least 1,500
stock or options trades a quarter (plus an additional $0.75 per
options contract). To continue receiving Power E*TRADE commission
rates, you must re-qualify by making at least 30 trades by the end of
the following quarter. Other commission rates apply to customers who
trade less then 30 times per quarter. For additional details and
important information about Power E*TRADE please visit
http://www.poweretrade.com
E*TRADE FINANCIAL Media Contact
Pam Erickson
E*TRADE FINANCIAL Corporation
617-296-6080
pam.erickson@etrade.com
E*TRADE FINANCIAL Investor Relations Contact
Adam Townsend
E*TRADE FINANCIAL Corporation
703-236-8719
adam.townsend@etrade.com
SOURCE E*TRADE FINANCIAL Corporation
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Related links:
http://www.etrade.com
http://www.poweretrade.com
CONTACT:
Media, Pam Erickson, +1-617-296-6080,
pam.erickson@etrade.com, or Investor Relations, Adam Townsend,
+1-703-236-8719, adam.townsend@etrade.com, both of E*TRADE
FINANCIAL Corporation
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