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E-Trade Hiccup Results In Duplicate Posts

Trade executions weren't affected, and the duplicate transactions were reversed the next day.

Steven Marlin

July 2, 2004

1 Min Read

A computer glitch Monday by the company that performs back-office processing for E-Trade Financial Corp. resulted in some accounts being incorrectly posted.

The problem didn't affect the execution of trades, but did cause some transactions to be posted to customer accounts twice during overnight processing, an E-Trade spokesperson says. The duplicate transactions were reversed the following day.

E-Trade referred questions about the cause of the error to its back-office processor, Beta Systems, which didn't return calls Friday.

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