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Interactive Brokers' (IBKR) October DARTs Up on Higher Trading

Zacks Equity Research
·3 min read

Shares of Interactive Brokers Group, Inc. IBKR gained 2% following the release of its Electronic Brokerage segment’s performance metrics for October 2020. The segment, which deals with clearance and settlement of trades for individual and institutional clients globally, reported a substantial surge in Daily Average Revenue Trades (DARTs) on a year-over-year basis. This can be attributed to the significant rise in trading activities owing to the coronavirus pandemic and the impending U.S. Presidential election results.

Total client DARTs were 1,762,000, surging 121% from October 2019 but declining 10% from September 2020. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 396. This reflects a jump of 47% year over year but a fall of 13% sequentially.

Total customer accounts climbed 50% from the prior-year month and 3% from September 2020 to 1.1 million. Net new accounts came in at 26,300, soaring 265% from October 2019 but declining 22% from September 2020.

Interactive Brokers’ total option contracts were 48.6 million, up 49% from October 2019 but down 9% from the prior month. Futures contracts climbed 10% on a year-over-year basis but fell 14% from the last month to 12 million.

At the end of October, client equity was $232.6 billion, up 43% year over year and unchanged sequentially. Also, Interactive Brokers recorded a client credit balance of $71.5 billion, up 26% from October 2019 and 1% on a sequential basis. The company’s customer margin loan balance of $31.7 billion grew 25% from October 2019 and 6% from the prior month.

Shares of Interactive Brokers have gained 21.1% over the past six months, outperforming 18.9% growth of the industry it belongs to.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other discount brokers, LPL Financial Holdings Inc. LPLA, Charles Schwab SCHW and Tradeweb Markets Inc. TW are set to report monthly performance metrics in the coming days.

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Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report
 
The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report
 
Tradeweb Markets Inc. (TW) : Free Stock Analysis Report
 
LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report
 
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Zacks Investment Research