eTrade 2004 Annual Report Download - page 73

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Table of Contents
Index to Financial Statements
E*TRADE FINANCIAL CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 1—ORGANIZATION AND BASIS OF PRESENTATION
Organization
E*TRADE Financial Corporation (the “Company,” “Parent” or “E*TRADE FINANCIAL”) is a financial services holding company
whose subsidiaries provide brokerage and banking services. These subsidiaries include:
Brokerage:
•
“ E*TRADE Brokerage Holdings, the parent company of the following subsidiaries:
•
E*TRADE Securities LLC (“E*TRADE Securities”), a registered broker-dealer and provider of brokerage services to both retail
and institutional customers;
•
E*TRADE Clearing LLC (“E*TRADE Clearing”), the clearing firm for E*TRADE Securities, E*TRADE Professional
Securities, E*TRADE Professional Trading, E*TRADE Capital Markets, E*TRADE Capital Markets-Execution Services and
others;
•
E*TRADE Institutional Holdings, Inc., the parent company of:
•
E*TRADE Capital Markets-Execution Services (“ETCM-ES”), formerly Dempsey & Company LLC. ETCM-ES is a
registered broker
-
dealer, specialist and market
-
making firm. ETCM
-
ES, in turn, is the parent company of:
•
E*TRADE Capital Markets, LLC (“E*TRADE Capital Markets”), formerly GVR & Company, LLC. E*TRADE
Capital Markets is a registered broker-dealer, a market-making firm and also acts as agent for our institutional
customers.
•
ETP Holdings, Inc., the parent company of:
•
E*TRADE Professional Trading, LLC, a registered broker-dealer; and
•
E*TRADE Professional Securities, LLC, a registered broker-dealer,
Banking:
•
E*TRADE Financial Corporate Services, Inc. (“E*TRADE Financial Corporate Services”), a provider of stock plan administration
and options management tools to corporate customers.
•
E*TRADE Re, LLC, the parent company of ETB Holdings, Inc. (“ETBH”) and also a provider of mortgage reinsurance. ETBH’s
subsidiaries include:
•
E*TRADE Bank (the “Bank”), a Federally chartered savings bank that provides deposit accounts insured by the Federal Deposit
Insurance Corporation (“FDIC”) and consumer lending products to retail customers nationwide. The Bank is also the parent
company of:
•
E*TRADE Consumer Finance Corporation (“E*TRADE Consumer Finance”), a recreational vehicle, marine and other
consumer loan originator and servicer; and
•
E*TRADE Mortgage Corporation (“E*TRADE Mortgage”), a direct-to-consumer mortgage loan originator. E*TRADE
Mortgage is also the parent company of:
•
E*TRADE Settlement Services, Inc. (“ETSS”), which provides full appraisal, closing and title services for
mortgage loans. ETSS is the parent company of:
•
Lending Link LLC, which acts as a title agency and provides key operational support for home equity loans.
65
•
E*TRADE Global Asset Management, Inc. (“ETGAM”), a registered broker-dealer and investment advisor that manages asset
portfolios for the brokerage and banking segments, as well as for institutional customers.