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Interactive Brokers (IBKR) March DARTs Improve Sequentially

Zacks Equity Research

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

Total client DARTs were 867,000, up 5% from February 2019 but down 4% from March 2018. Total customer accounts grew 1% from the prior month and 20% from the prior-year month to 622,500.

Net new accounts were 8,300, increasing 12% sequentially but declining 14% year over year. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 311,000. This reflects a rise of 3% from February 2019 but a decline of 24% from March 2018.

Interactive Brokers’ total options contracts were 28.4 million, up 24% from February 2019 but down 16% from March 2018. Similarly, futures contracts grew 26% from the prior month but declined 25% from the prior-year month to 10.8 million.

At the end of March, client equity was $147.6 billion, up 3% sequentially and 14% year over year. Further, Interactive Brokers recorded client credit balance of $52 billion, down 1% from February 2019 but up 8% from March 2018. However, the company’s customer margin loan balance of $25.5 billion declined 1% from the prior month and 13% from the prior-year month.

Shares of Interactive Brokers have lost 16.9% over the past year compared with 19.3% decline of the industry it belongs to.



The stock currently carries a Zacks Rank #3 (Hold). 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, The Charles Schwab Corp. SCHW and E*TRADE Financial Corp. ETFC are likely to report their monthly metrics information along with quarterly results.

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