Online broker E*TRADE Group Inc. has authorized a multi-year stock e-purchase program of up to 50 million shares.

Under the program, purchases may be made from time to time in the open market at prevailing prices, through block trades, in privately negotiated purchases, or otherwise, depending on market conditions and other factors. These purchases may be commenced or suspended at any time or from time-to-time without prior notice.

Many big firms are stepping up with buy-back pledges to help stabilize the market today. “We have great confidence in our nation, its economy and financial system, and in the future of our company and its industry,” said E*TRADE chairman and CEO, Christos Cotsakos.

“We believe this stock repurchase program furthers the long term interests of our shareowners as we continue building our diversified financial services company for the 21st century.”