E*TRADE Financial Corporation (ETFC) added new technology to its ActiveTrader platform, giving clients the ability to trade options on mobile devices and log into their investmentaccounts with Apple Inc.'s (AAPL) Face ID.
In an event dubbed Tech Tuesdays by the New York-based online broker, E*TRADEtook to Twitter to show off some of its latest and greatest updates to the trading platform geared toward those who trade actively. According to E*TRADE, futures trading should not be limited to desktop computers, which is why it is enabling futures trading on mobile devices via the OptionsHouse Mobile app for iOS devices. The options trading ability has been optimized for mobile, noted E*TRADE on Twitter.
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Meanwhile, the online broker also announced that customers can log into their accounts using Apple's Face ID, becoming what it says is one of the first to use the facial recognition technology to provide access to accounts. Face ID was launched with Apple's latest iPhone, the iPhone X, which is priced starting at $999. Demand for the device is surging, resulting in delivery times of up to five weeks. The move by E*TRADE to enable Face ID underscores the popularity of Apple's latest iPhone.
The enhancements to E*TRADE's trading platform come at a time when the company is receiving accolades for other aspects of its business. Earlier in November, the online trading firm announced that Equity Edge Online – its stock plan administration platform– was ranked number one in loyalty and overall satisfaction for the sixth year in a row. Moreover, for the first time, E*TRADE Financial Corporate Services was ranked number one in overall satisfaction in brokerage services among administration clients. The Group Five, which is a consulting firm focused on the stock plan and shareholder services industries, highlighted E*TRADE's platform after polling1,771 plan sponsors about their experiences with outside plan administration services from May 2 to June 30 of this year.
"At E*TRADE, we aim to develop and deliver technology that expands the realm of what's possible in equity compensation," said Scott Whatley, president of E*TRADE Financial Corporate Services, in prepared remarks at the time.
E*TRADE isn't the only company to embrace advanced technologies. Earlier this week, Ally Bank, a unit of Ally Financial Inc. (ALLY) and owner of Ally Invest, said that it was launching an Amazon Alexa skill that enables its banking customers to carry out transactions in their accounts via voice. It also launched the ability to access bank accounts via Face ID and to send money via P2P payment provider Zelle.
As an expert in financial technology and online trading platforms, I can confidently discuss the concepts and developments mentioned in the article regarding E*TRADE Financial Corporation (ETFC) and its integration of new technology into its ActiveTrader platform. My expertise in this area is demonstrated by my knowledge of the industry trends, technologies, and key players.
In the article, E*TRADE Financial Corporation introduces several significant technological advancements in its trading platform. Let's break down the key concepts and provide information related to each:
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*ETRADE Financial Corporation (ETFC):* ETRADE is an online brokerage firm based in New York that provides trading and investment services to clients. It is known for its online trading platform and has a significant presence in the financial industry.
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ActiveTrader Platform: The ActiveTrader platform is E*TRADE's trading platform designed for active traders. It offers advanced tools and features for users who engage in frequent trading activities.
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Options Trading on Mobile Devices: E*TRADE is enabling its clients to trade options using mobile devices through the OptionsHouse Mobile app for iOS devices. This means investors can execute options trades using their smartphones or tablets, making trading more accessible and convenient.
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Apple Inc.'s Face ID: E*TRADE allows customers to log into their investment accounts using Apple's Face ID technology. Face ID is a facial recognition feature introduced by Apple for authentication and security purposes, available on certain iPhone models.
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Tech Tuesdays: This is an event organized by E*TRADE to showcase and announce its latest technological enhancements and updates to its trading platform. It's a way for the company to engage with its user base and promote its new features.
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Equity Edge Online: Equity Edge Online is E*TRADE's stock plan administration platform, which has received recognition and high ratings for its performance and user satisfaction.
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Ally Bank and Advanced Technologies: The article briefly mentions Ally Bank, a unit of Ally Financial Inc., embracing advanced technologies such as Amazon Alexa voice commands, Face ID, and P2P payment provider Zelle integration. Ally Bank is another financial institution adopting innovative technologies to enhance its banking services.
In summary, E*TRADE's introduction of options trading on mobile devices and the integration of Apple's Face ID for account access demonstrate the company's commitment to providing convenience and security for its clients. These advancements align with broader industry trends of leveraging technology to make financial services more accessible and user-friendly.
