Designated Brokerage Services
E*TRADE Designated Brokerage Services gives you the tools to monitor employee trades in compliance with your internal and regulatory requirements. At the same time, we can help your employees manage their investments with our industry-leading technology and customer support.
Benefits
For your company
Monitor employee trading
Review daily account activity and quickly identify suspicious trading patterns
Third-party data aggregator
Securely transmit trading and position data to a third-party aggregator
Automatic account linking
Dedicated account opening page for data feed auto-linking
Dedicated support team
Assistance with onboarding and continuing account support
For your employees
Full range of investment choices
Invest in stocks, bonds, mutual funds, and ETFs, as well as options and futures trading
Multi-platform experience
Enjoy a seamless trading experience on web, mobile, and advanced trading platforms
Exclusive offers
Employees may receive exclusive access to preferred pricing
Support and guidance
Our easy-to-use tools and guidance help your employees make the most of their money
In the next phase of the merger of E*TRADE and Morgan Stanley, Morgan Stanley Smith Barney LLC (“Morgan Stanley”) will be assuming responsibility for the custody and clearing services currently provided by E*TRADE Securities LLC, also referred to as E*TRADE from Morgan Stanley (collectively “E*TRADE”).
Below you’ll find information about how this change will affect the designated brokerage services you receive from us. For information on what this may mean for your employees who hold E*TRADE accounts, please visit etrade.com/mssb.
Impact on designated brokerage services
Starting in March 2023, E*TRADE accounts will be migrated to Morgan Stanley’s back office in three waves through the remainder of the year. Once an E*TRADE account has been migrated, the account data will no longer be included in the current data feed you (or a data aggregator vendor acting on your behalf) are receiving from E*TRADE. Instead, a net new data feed will be sent from Morgan Stanley, containing all E*TRADE accounts that have been migrated.
Please note: The current E*TRADE data feed will continue to contain E*TRADE accounts that have not yet been migrated until the migration of all E*TRADE accounts is complete, which we expect to happen in the third or fourth quarter of 2023.
If you are currently receiving a data feed from Morgan Stanley, the net new Morgan Stanley data feed will mirror the file formats of—and will be placed in the same location as—the existing Morgan Stanley feed. The MS Client ID for the new data feed will be the same as the MS Client ID for the current MS data feed. However, the data files containing migrated E*TRADE account data will be indicated as such in the file names.
If you are not currently receiving a data feed from Morgan Stanley, you or a data aggregator acting on your behalf will be asked to complete and return an FTP (File Transfer Protocol) Questionnaire. If you have not already received this questionnaire and are not using a data aggregator, please reach out to us at the email address below. Once this form is returned, a representative from our technical Comet team will contact you to provide Comet login information to access the new files.
For technical or general questions about this conversion, please email us at designatedbrokerage@morganstanley.com
For requests about existing data feeds, please continue to communicate with the appropriate group(s): designatedbrokerage@etrade.com or gwm_data_feeds@morganstanley.com
Frequently asked questions
When will the integration happen?
All E*TRADE data feeds will be migrated to the Morgan Stanley back office during 2023. Starting in March 2023, E*TRADE account data will be converted to Morgan Stanley books and records and will be included in a net new data feed from Morgan Stanley. There will be three waves of E*TRADE accounts migrating to Morgan Stanley books and records in 2023—in March, June, and September. Please check back periodically for specific conversion dates.
Who can I contact for more information?
For technical or general questions, please contact designatedbrokerage@morganstanley.com
If I currently use a data aggregator vendor, will I be impacted?
We have provided separate communications to the data aggregators. Please speak with your contact at the data aggregator about any impacts to the information you receive from them.
If I have a Morgan Stanley data feed already, what is an example of what may happen?
The following is an example of what might happen for a corporate client with a current E*TRADE data feed of 100 accounts and a current Morgan Stanley data feed of 50 accounts:
Pre-Wave 1 (now through March 2023)
No accounts have been converted. The data field count remains as follows:
- E*TRADE data feed: 100 accounts
- Legacy Morgan Stanley data feed: 50 accounts
Wave 1 (March 2023)
20 E*TRADE accounts are converted. The new data field count is:
- E*TRADE data feed: 80 accounts
- Legacy Morgan Stanley data feed: 50 accounts
- New Morgan Stanley data feed: 20 accounts
Wave 2 (June 2023)
40 additional E*TRADE accounts are converted. The new data field count is:
- E*TRADE data feed: 40 accounts
- Legacy Morgan Stanley data feed: 50 accounts
- New Morgan Stanley data feed: 60 accounts
Wave 3 (September 2023)
The remaining 40 E*TRADE accounts are converted. The final data field count is:
- E*TRADE data feed: 0 accounts
- Legacy Morgan Stanley data feed: 0 accounts
- New Morgan Stanley data feed: 150 accounts
If I don't have a Morgan Stanley data feed already, what is an example of what mayhappen?
The following is an example of what might happen for a corporate client with a current E*TRADE data feed of 100 accounts and no Morgan Stanley data feed:
Pre-Wave 1 (now through March 2023)
No accounts have been converted. The data field count remains as follows:
- E*TRADE data feed: 100 accounts
Wave 1 (March 2023)
20 E*TRADE accounts are converted. The new data field count is:
- E*TRADE data feed: 80 accounts
- New Morgan Stanley data feed: 20 accounts
Wave 2 (June 2023)
40 additional E*TRADE accounts are converted. The new data field count is:
- E*TRADE data feed: 40 accounts
- New Morgan Stanley data feed: 60 accounts
Wave 3 (September 2023)
The remaining 40 E*TRADE accounts are converted. The final data field count is:
- E*TRADE data feed: 0 accounts
- New Morgan Stanley data feed: 100 accounts
What will happen to my current Morgan Stanley data feed?
If you currently have a Morgan Stanley data feed, it will remain unchanged until after all E*TRADE accounts have been converted in September 2023. At that time, the new Morgan Stanley data feed containing E*TRADE account data will be consolidated with your current Morgan Stanley data feed containing Morgan Stanley account data. Once that process is completed, you or a data aggregator acting on your behalf will receive only one data feed containing both Morgan Stanley and E*TRADE data.
I am currently receiving PDF statements outside of a data feed. Will this service continue to be available?
No. Morgan Stanley does not offer this service, and it will be discontinued in March 2023. You may set up a data feed (if you don't have one already) to receive this information directly from Morgan Stanley. Alternatively, physical statements can be mailed to an Interested Party. To request these statements, please work with your employee to be set up as an Interested Party on their account.
Contact us to get started
(for compliance personnel only)
855-432-6834
designatedbrokerage@etrade.com
9 a.m.–6 p.m. ET
Monday–Friday