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Interactive Brokers' (IBKR) July DARTs Down Sequentially

Zacks Equity Research

Interactive Brokers Group, Inc. IBKR has released its Electronic Brokerage segment’s performance metrics for July 2019. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a sequential decline in Daily Average Revenue Trades (DARTs).

Total client DARTs were 800,000, down 1% from June 2019 but up 7% from July 2018. Total customer accounts grew 1% from the prior month and 17% from the prior-year month to 652,100.

Net new accounts were 7,300, growing 18% sequentially but down 45% year over year. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 276,000. This reflects a fall of 1% from June 2019 and 12% from July 2018.

Interactive Brokers’ total options contracts were 28.6 million, up 10% from June 2019 and 13% from July 2018. Also, futures contracts decreased 4% from the prior month but was up 5% from the year-ago month to 10.2 million.

At the end of July, client equity was $155.6 billion, up 2% sequentially and 13% year over year. Further, Interactive Brokers recorded client credit balance of $55.8 billion, up 2% sequentially and 16% from July 2018. The company’s customer margin loan balance of $26.5 billion increased 3% from the previous month but declined 6% from the prior-year month.

Shares of Interactive Brokers have lost 8.3% so far this year against 7.2% rise of the industry it belongs to.



The stock currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other investment brokers, LPL Financial Holdings Inc. LPLA, Charles Schwab SCHW and E*TRADE Financial ETFC are likely to report their monthly metrics information soon.

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