E*TRADE Extends Its Global Reach by Acquiring Exchange Seat on EURONEXT Paris
Third International Stock Exchange Membership to be Activated in This Quarter
MENLO PARK, Calif., Dec. 19 /PRNewswire/ -- E*TRADE Group, Inc. (NYSE: ET - news) today announced that its subsidiary, E*TRADE Institutional Securities, has become a member of the EURONEXT Paris exchange as an authorized broker-dealer in order to better serve E*TRADE's global institutional customer base. By activating an exchange seat, E*TRADE will increase revenue and profitability by leveraging its direct access to EURONEXT Paris for its growing global institutional order flow.
EURONEXT Paris marks the third international stock exchange membership activated this quarter by E*TRADE Institutional Securities, following seats on the Swiss Stock Exchange and virt-x, bringing the Company's total memberships to ten.
``By leveraging our institutional and retail order flow globally, while maximizing efficiencies of our back office platform, E*TRADE is once again differentiating itself from the competition,'' said Jarrett Lilien, Chief Brokerage Officer and Managing Director of Asia-Pacific and Latin America, E*TRADE Group, Inc. ``While others are withdrawing from the global marketplace, E*TRADE remains committed to expanding its global brand and further advancing its revenue diversification strategy.'' |
