|Crisis Communications – E*TRADE Effectively Addresses MF Global Relationship|
|Written by Alex Filiaci|
|Monday, 07 November 2011 13:28|
On November 1st, E*TRADE Financial sent an email to clients with futures accounts regarding their partnership with MF Global. E*TRADE futures account holders were informed that like all other MF Global customers, they are limited to Liquidations Only closing transactions.
The email instructed clients to call E*TRADE should they need to close a position and alerted them that E*TRADE was forming a new futures partnership with R.J. O’Brien & Associates (RJO). Clients wishing to make futures trades are required to open and fund a new futures account through E*TRADE with RJO. Conveniently, a link to the account opening page was also provided.
As we recommended to financial services firms following the S&P Downgrade earlier this year, E*TRADE was able to get out in front of a potentially damaging situation by quickly reaching out to clients and easing their uncertainty. The email was reassuring in that it informed customers of the firm’s new futures partnership with RJO and also contained instructions and contact information for closing positions. A commitment to customer service includes up-front communication, which E*TRADE demonstrated in this instance.