A NEW Etrade Market Trader

[DiamondFire]

...is 'dat you...weeeeeee?


lol


Etrade!

E T R F wooooo!

[odinpinetree]

http://apnews.excite.com/article/20080426/D9097KHO0.html


E-Trade CFO and general counsel resign


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Apr 25, 8:38 PM (ET)

By JORDAN ROBERTSON

SAN JOSE, Calif. (AP) - An executive exodus from troubled online brokerage E-Trade Financial Corp. (ETFC) (ETFC) is continuing, with the chief financial officer's and general counsel's departures announced Friday as the company grapples with massive losses stemming from its hemorrhaging mortgage business.

The New York-based company said after the market closed that Chief Financial Officer Robert Simmons will resign on or before May 9, while General Counsel Arlen Gelbard's resignation was effective Tuesday.

The CFO slot will be filled by Matthew Audette, E-Trade's controller, while the company searches for a permanent replacement. The general counsel position will be filled on an "extended interim basis" by Russell Elmer, who served in that role for six years before leaving the company last year.

The company did not detail the reasons behind either executive's departure.


The resignations come just four months after Chief Executive Mitchell Caplan was forced out as Wall Street drove the company's stock down from around $25 a share in the summer of 2007 near $2 a share this year, while E-Trade teetered on the verge of bankruptcy.

Caplan left with $10.9 million in severance pay under the terms of his employment contract and was replaced on an interim basis by Chief Operating Officer R. Jarrett Lilien, who also has submitted his resignation.

The company's proxy filing from April 16 says Lilien's resignation will be effective on or before May 16.

Turmoil in the credit and real estate markets have hammered at E-Trade's finances, triggering huge losses, including $1.7 billion in the fourth quarter last year, and forcing the company to take a $2.55 billion cash infusion in November from hedge fund Citadel Investment Group to stay afloat amid chatter the company would be sold off or broken apart.

But there are signs the company is turning a corner, reining in the losses in its troubled mortgage portfolio despite ongoing distress in the housing market, and strengthening its core stock brokering business. It added 62,000 accounts in the first three months of the year, bringing its total to 4.8 million.

E-Trade shares rose 21 cents, or 5.5 percent, to close at $4 per share before the departures were announced. The stock fell 5 cents in after-hours trading Friday.

[cintrix]

When is Etrade going to fix Time and Sales? What does it take to rectify something like this? It has been broken since they changed the system and every time I speak with them about it they say they are working on fixing it.

[cintrix]

Time and Sales craps out everyday now. Etrade has finally admitted to me that there is a problem on their end but they have NO fix in sight. They don't know what is causing it. It is random. They don't even know if it is a server based problem or not.

[Thirsty Tiger]

I'm having the same trouble. the L2 is just totally scrambled. the problem started Friday AM. After screwing with it for a while, it is clear that it is only the L2s for OTC stocks that are affected, any AMeX NYSE, or NASDAQ stock has their L2s correctly displayed

[dc_350]

Sure am...bid/ask is still messed up on some symbols...

[cintrix]

You still having problems with Pro on level II? I am, thank goodness I have MT as a backup.

[dc_350]

Thanks...quite aggravating!

[cintrix]

Yes, have been having problems on Pro since I launched it this morning. Tried to clear my java cache and that did not help. It is a problem on Etrade's end, not yours. Market Trader level II is working though.

[dc_350]

Anyone else having L2 issues with etrade pro? Bid/ask seems all hosed up...

[cintrix]

Oh, that makes a little more sense then.

[Anonymous Nobody]

I'm thinking they think it was a hacked account situation as some hackers break into accounts and buy pinkies with all the money to make the prices go up. The problem isn't what they did, but the way they did it, making it almost impossible to reach the person who froze the accounts.

[cintrix]

That's insane - r they allowed to do that?

[Anonymous Nobody]

Certain pinkies, it's unclear which one since both accounts carried about 20 stocks, and similar holdings.

In one account, all the data disappeared and it provided a message on the alerts, "We have important information about your account, please call 1-800-xxx-xxxx. This is not a sales call or solicitation." But two days later the account corrected itself.

In the other account, it had a similar message but stated they needed to verify information. It provided a direct number, but the account holder always received a voicemail and never a return call. Their account is still locked, showing no data.

In neither case did ETrade call the customer or send a letter.

[cintrix]

What? You're kidding? I never heard this before. What types of trades are they singling out?

[Anonymous Nobody]

Anyone have any issues where ETrade's corp security locked the account because you traded in certain pennies?

I now know of two people who had their accounts locked.

[Cube]

I can understand that. If I had over 100k I would definately transfer some out.

[cintrix]

Not sure what I will do. I already closed out a CD account with them yesterday that comes due on Wed. I may just gradually switch my brokerage accounts to my already existing Ameritrade and/or ChoiceTrade accounts. Aside from all of yesterday's drama, I am not at all happy with them to begin with, so this may just be the excuse I need to get the ball rolling.

[Cube]

It should be fine, i'll wait it out.

[cintrix]

So Etraders, what r your plans regarding the current situation? Switching to new brokers, waiting it out to see what happens?

[Cube]

That is correct.

[cintrix]

How many trades did you make last quarter? It is the start of the fourth quarter - you might not have qualified for it based on your trading from last quarter. They raised my commission this quarter from 7.99 to 9.99 due to my decreased amount of trading with them. I think you need to do at least 30 trades per quarter to qualify for Pro.

[Art2Gecko]

wtf?? etradepro is now a $99/mo subscription??!!

when did this happen? wasn't on friday...

[cintrix]

Really? I must have lucked out.

[Truufinator]

Still not working............ugh.

[cintrix]

I sent an email via the website regarding one simple question on how to save changes to the startup symbol at the top of MT. Specifically directed it to Market Trader technical issues using the pulldown menu. I am so sick of having to pick up the darn phone for every stupid issue this platform has. This was their response:

Thank you for the message in regards to savings changes through the market trader platform. Please contact our market trader technical support group at 1-888-388-2900. Our representatives will be able to assist with all issues regarding the market trader platform. You can also search for help through the search tool at the top of market trader. If there are any further questions feel free to contact us at E*TRADE Financial. Thank you.

[cintrix]

Looks like they got it working for the time being.

[cintrix]

MARKET TRADER IS DOWN.

[cintrix]

If anyone is having problems with level I not being the same as level II there is a way to fix it. Go to the top of Market Trader and hit the General Setup button. After that box opens, in Preferences go to Significant Digits to display - move it up to at least 4. That will fix it.

[bob41]

not surprised.

[Stock]

E*Trade To Focus On Retail Business, Cuts '07 View >ETFC

Last update: 9/17/2007 4:45:45 PM

DOW JONES NEWSWIRES E*Trade Financial Corp. (ETFC) intends to sell or restructure non-businesses to focus on retail growth. The New York-based electronic brokerage firm cut its 2007 earnings forecast range to $1.05 to $1.15 a share from $1.53 to $1.67 a share on the changes. The decrease is largely due to a boost in its provision for loan losses in the second half of the year to $245 million and charge-offs of $95 million. E*Trade said it will exit its wholesale mortgage operations, streamline its direct mortgage lending business and restructure its institutional sales trading unit. The company expects exit charges, which will primarily be recorded during the fourth quarter, to be about $32 million. -Monica M. Clark; 201-938-5400; [e-mail] (END) Dow Jones NewswiresSeptember 17, 2007 16:45 ET (20:45 GMT)

[cintrix]

Nothing like "Etrade improvements" - they are priceless! lol

[invest799]

yes I do but still

[cintrix]

Did you try clearing the java cash. I have to do that periodically with MT and Pro. But since they updated this MT last week, level I quotes are still not correct.

[invest799]

Im done with new market trader SOS
almost a week now the new market trader cant load at all
i ve cancel java , reintall it , try lot of things but I can't load the new market trader
help
using java 1.6
I confirm , the old reuter market trader was lot more fine than whats follow

[bob41]

yup a good chuckle there. Denial on their part.

[cintrix]

This is the most comical part:
You spoke, we listened. The newest version of E*TRADE MarketTrader incorporates feedback from over 1,000 users that simplifies and enhances nearly every aspect of the platform.

lmao - too funny. Maybe they need to get their ears checked. If they were really listening, they would have dumped this pos platform and brought back the old one that was good.

[bob41]

LOL yup they are good (Not!)

[cintrix]

Yes, I have downloaded the new version and so far all I see is that not all my quotes are working correctly on level I - level II is fine but level I is not always accurate. Nice improvement Eturd!

[bob41]

FWIW: https://us.etrade.com/e/t/jumppage/viewjumppage?PageName=mtdetails

[Stock]

ok got bored with that and covered that AMTD short



maybe go long ETFC now??

[cintrix]

A theme trade! lol

[Stock]

hey, it's a theme trade

[cintrix]

lol

[Stock]

short AMTD -- ETFC has mortgage exposure -- day trade lol

[cintrix]

Ameritrade gives better executions on trades. Their customer service is much better too. If you call about something that happened that you are unhappy about, they will throw you a few free trades. Etrade will argue with you until they are blue that it is your fault and that it is because you are trading pennies that whatever happened happened! Ameritrade is also flexible about their commissions, while Etrade will not budge about changing a commission even if you are an active trader. The thing I don't like about Ameritrade is the long wait on email inquires. I am currently using three brokers, and I have to say that right now, I am liking Choicetrade the most out of the three.

[bob41]

not Eturd.

[Stock]

no "merger of equals" i hope... you want AMTD to be the dominant culture -- but who has a more stable trading platform??

[cintrix]

I read about that awhile ago when those hedge funds were suggesting it. I hope it never happens. Etrade will ruin Ameritrade imo. Ameritrade is run so much better - there is NO comparison - they treat their customers better too.

[bob41]

http://www.reuters.com/article/businessNews/idUSL2269053420070822?feedType=RSS&feedName=business...