Edgar Filing: GRIFFIN KENNETH C

Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â CITADEL L P

2. Date of Event Requiring Statement (Month/Day/Year)
02/26/2008

3. Issuer Name and Ticker or Trading Symbol
E TRADE FINANCIAL CORP [ETFC]

(Last)

(First)

(Middle)

131 S. DEARBORN STREET, 32ND FL

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	__X__ Other (specify below)
Please see Exhibit 99.1 (1)

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

CHICAGO,Â ILÂ 60603

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security
(Instr. 4)

2. Amount of Securities Beneficially Owned
(Instr. 4)

3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)

4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
PUT OPTION: EUSPN [RIGHT TO SELL]	Â ⁽³⁾	04/19/2008	Common Stock	355	$ 12	D ⁽²⁾ ⁽³⁾	Â
PUT OPTION: EUSPN [RIGHT TO SELL]	Â ⁽³⁾	04/19/2008	Common Stock	151	$ 12	D ⁽¹⁾ ⁽³⁾	Â
PUT OPTION: EUSPO [OBLIGATION TO PURCHASE]	Â ⁽³⁾	04/19/2008	Common Stock	5	$ 13	D ⁽²⁾ ⁽³⁾	Â
PUT OPTION: EUSPO [RIGHT TO SELL]	Â ⁽³⁾	04/19/2008	Common Stock	312	$ 13	D ⁽¹⁾ ⁽³⁾	Â
PUT OPTION: EUSPP [RIGHT TO SELL]	Â ⁽³⁾	04/19/2008	Common Stock	240	$ 14	D ⁽¹⁾ ⁽³⁾	Â
PUT OPTION: EUSPQ [OBLIGATION TO PURCHASE]	Â ⁽³⁾	04/19/2008	Common Stock	3	$ 16	D ⁽²⁾ ⁽³⁾	Â
PUT OPTION: EUSPQ [RIGHT TO SELL]	Â ⁽³⁾	04/19/2008	Common Stock	40	$ 16	D ⁽¹⁾ ⁽³⁾	Â
PUT OPTION: EUSSA [RIGHT TO SELL]	Â ⁽³⁾	07/19/2008	Common Stock	40	$ 5	D ⁽¹⁾ ⁽³⁾	Â
PUT OPTION: EUSSB [RIGHT TO SELL]	Â ⁽³⁾	07/19/2008	Common Stock	1	$ 10	D ⁽¹⁾ ⁽³⁾	Â
PUT OPTION: EUSSG [RIGHT TO SELL]	Â ⁽³⁾	07/19/2008	Common Stock	39	$ 3	D ⁽¹⁾ ⁽³⁾	Â
PUT OPTION: EUSSH [RIGHT TO SELL]	Â ⁽³⁾	07/19/2008	Common Stock	30	$ 4	D ⁽¹⁾ ⁽³⁾	Â
PUT OPTION: EUSSJ [OBLIGATION TO PURCHASE]	Â ⁽³⁾	07/19/2008	Common Stock	2	$ 7	D ⁽¹⁾ ⁽³⁾	Â
PUT OPTION: EUSSK [OBLIGATION TO PURCHASE]	Â ⁽³⁾	07/19/2008	Common Stock	20	$ 8	D ⁽¹⁾ ⁽³⁾	Â
CALL OPTION: OYNAA [OBLIGATION TO SELL]	Â ⁽³⁾	01/17/2009	Common Stock	50	$ 5	D ⁽²⁾ ⁽³⁾	Â
CALL OPTION: OYNAA [OBLIGATION TO SELL]	Â ⁽³⁾	01/17/2009	Common Stock	1,842	$ 5	D ⁽¹⁾ ⁽³⁾	Â
CALL OPTION: OYNAB [RIGHT TO PURCHASE]	Â ⁽³⁾	01/17/2009	Common Stock	146	$ 10	D ⁽²⁾ ⁽³⁾	Â
CALL OPTION: OYNAB [OBLIGATION TO SELL]	Â ⁽³⁾	01/17/2009	Common Stock	1,260	$ 10	D ⁽¹⁾ ⁽³⁾	Â
CALL OPTION: OYNAC [RIGHT TO PURCHASE]	Â ⁽³⁾	01/17/2009	Common Stock	161	$ 15	D ⁽²⁾ ⁽³⁾	Â
CALL OPTION: OYNAC [OBLIGATION TO SELL]	Â ⁽³⁾	01/17/2009	Common Stock	167	$ 15	D ⁽¹⁾ ⁽³⁾	Â
CALL OPTION: OYNAD [OBLIGATION TO SELL]	Â ⁽³⁾	01/17/2009	Common Stock	44	$ 20	D ⁽²⁾ ⁽³⁾	Â
CALL OPTION: OYNAD [OBLIGATION TO SELL]	Â ⁽³⁾	01/17/2009	Common Stock	249	$ 20	D ⁽¹⁾ ⁽³⁾	Â
CALL OPTION: OYNAE [RIGHT TO PURCHASE]	Â ⁽³⁾	01/17/2009	Common Stock	81	$ 25	D ⁽¹⁾ ⁽³⁾	Â
CALL OPTION: OYNAF [RIGHT TO PURCHASE]	Â ⁽³⁾	01/17/2009	Common Stock	58	$ 30	D ⁽¹⁾ ⁽³⁾	Â
CALL OPTION: OYNAF [OBLIGATION TO SELL]	Â ⁽³⁾	01/17/2009	Common Stock	187	$ 30	D ⁽²⁾ ⁽³⁾	Â
CALL OPTION: OYNAG [OBLIGATION TO SELL]	Â ⁽³⁾	01/17/2009	Common Stock	14	$ 35	D ⁽¹⁾ ⁽³⁾	Â
CALL OPTION: OYNAH [OBLIGATION TO SELL]	Â ⁽³⁾	01/17/2009	Common Stock	47	$ 40	D ⁽¹⁾ ⁽³⁾	Â
CALL OPTION: OYNAU [RIGHT TO PURCHASE]	Â ⁽³⁾	01/17/2009	Common Stock	499	$ 7.5	D ⁽¹⁾ ⁽³⁾	Â
CALL OPTION: OYNAU [OBLIGATION TO SELL]	Â ⁽³⁾	01/17/2009	Common Stock	179	$ 7.5	D ⁽²⁾ ⁽³⁾	Â
CALL OPTION: OYNAV [RIGHT TO PURCHASE]	Â ⁽³⁾	01/17/2009	Common Stock	109	$ 12.5	D ⁽¹⁾ ⁽³⁾	Â
CALL OPTION: OYNAV [OBLIGATION TO SELL]	Â ⁽³⁾	01/17/2009	Common Stock	16	$ 12.5	D ⁽²⁾ ⁽³⁾	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
CITADEL L P 131 S. DEARBORN STREET, 32ND FL CHICAGO,Â ILÂ 60603	Â	Â X	Â	Please see Exhibit 99.1 (1)
CITADEL INVESTMENT GROUP LLC 131 S. DEARBORN STREET, 32ND FL CHICAGO,Â ILÂ 60603	Â	Â X	Â	Please see Exhibit 99.1 (1)
CITADEL EQUITY FUND LTD 131 S. DEARBORN STREET, 32ND FL CHICAGO,Â ILÂ 60603	Â	Â X	Â	Please see Exhibit 99.1 (1)
CITADEL AC INVESTMENTS LTD 131 S. DEARBORN STREET, 32ND FL CHICAGO,Â ILÂ 60603	Â	Â X	Â	Please see Exhibit 99.1 (1)
GRIFFIN KENNETH C 131 S. DEARBORN STREET, 32ND FL CHICAGO,Â ILÂ 60603	Â	Â X	Â	Please see Exhibit 99.1 (1)

Signatures

/s/ John C. Nagel		03/06/2008
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Please see Exhibit 99.1 (2)
(2)	Please see Exhibit 99.1 (3)
(3)	Please see Exhibit 99.1 (4)
Â Remarks: AÂ FormÂ 3Â isÂ limitedÂ toÂ aÂ maximumÂ ofÂ tenÂ reportingÂ persons.Â AsÂ aÂ result,Â thisÂ FormÂ 3Â isÂ oneÂ ofÂ twoÂ filedÂ todayÂ reportingÂ on Â theÂ sameÂ securitiesÂ byÂ theÂ followingÂ elevenÂ jointÂ filers:Â CitadelÂ InvestmentÂ Group,Â L.L.C.,Â CitadelÂ LimitedÂ Partnership, Â CitadelÂ EquityÂ FundÂ Ltd.,Â CitadelÂ ACÂ InvestmentsÂ Ltd.,Â KennethÂ Griffin,Â CitadelÂ InvestmentÂ GroupÂ II,Â L.L.C.,Â Citadel Â HoldingsÂ IÂ LP,Â CitadelÂ HoldingsÂ IIÂ LP,Â CitadelÂ AdvisorsÂ LLC,Â CitadelÂ DerivativesÂ GroupÂ LLCÂ andÂ CitadelÂ DerivativesÂ Trading Â Ltd.

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