eTrade 2005 Annual Report Download - page 8
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exchanges. Our institutional segment includes market-making activities, in which we match buyers and sellers of securities from both
the retail segment and unrelated third parties, often trading principal positions in these securities. Our institutional segment also
includes our balance sheet management functions. Balance sheet management functions include the optimization of our balance sheet
through a focus on asset allocation and managing interest rate risk, credit risk and liquidity risk.
1
2006. EDGAR Online, Inc.