The current financial services melt-down has had differing effects on different companies. Dealing with the realities of the situation has become the only way that most can move forward. Some are assessing their situation while others are moving to right the issues. If there is one thing that most can agree upon; it would be that admitting to losses, making the needed moves now and working to move forward are the only ways to get back toward solid results.

E*Trade Financial Corp., an online trading concern, works to facilitate the online trading of certain financial products. In a general sense, the company is a retail company that offers the “average” person an opportunity to trade stocks and buy mutual funds. As with many financial institutions and companies, E*Trade Financial has been going through a period of adjustment. It has, however, readjusted in a significant manner and appears to be moving forward in a positive way.

In tandem with the launching of a new mobile trading platform, recapitalization of the company has been the main stimulus for the company. Through its indirectly owned subsidiary, E*Trade Mauritius Ltd., the company has announced and agreed to sell 100% of its equity shares in IL&FS InvestMart Ltd. to HSBC, an Indian company. Net pre-tax revenue resulting from the sale will be $20-30 million. Moving forward, the company has also announced that it is launching a new mobile trading platform with Research in Motion (RIM) and its Blackberry product. The company expects that this particular event will help to expand its reach for new customers while increasing services to a now expanding net trading base.

E *Trade Financial has truly turned the corner by making needed changes. The first quarter of 2008 witnessed: 62,000 net new accounts, 4.8 million net accounts, net inflows of $300 million and $69 million in non-core asset sales. As many within the financial services markets continue to struggle, E*Trade Financial appears to have begun working through the morass that most of the industry is mired in. Most see the company as now moving forward and positioned to profit for some time to come.

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