Interactive Brokers (IBKR) Records a Rise in February DARTs

·2 min read

Interactive Brokers Group, Inc. IBKR has released the Electronic Brokerage segment’s performance metrics for February 2023. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a rise in client Daily Average Revenue Trades (DARTs) on a sequential basis. On a year-over-year basis, client DARTs declined.

Total client DARTs for the month were 2,121,000, up 7% from the January 2023 level but down 13% year over year.

On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 222. The metric increased 5% sequentially but fell 30% from the prior-year period. Cleared client DARTs for the month were 1,904,000, up 7% from January 2023 but down 14% from February 2022.

IBKR’s total customer accounts rose 2% from the prior month and 22% from February 2022 to 2.16 million. Net new accounts were 32,700, down 12% from January 2023 and 15% from the prior-year month.

Interactive Brokers’ total options contracts were 74.5 million in February 2023, increasing 1% from the prior month and 5% the prior-year month. Futures contracts grew 12% on a sequential basis and were flat year over year at 16.8 million.

At the end of February 2023, client equity was $331.6 billion, down 2% sequentially and 5% year over year. Interactive Brokers recorded client credit balances of $97.9 billion, down 2% from January 2023 and up 10% from February 2022. IBKR’s customer margin loan balance of $39.1 billion decreased 1% from the previous month and 21% year over year.

Over the past six months, shares of Interactive Brokers have gained 41.3%, outperforming the industry’s rally of 11.1%.

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

Two other brokerage firms, Charles Schwab SCHW and LPL Financial Holdings Inc. LPLA will report their monthly performance metrics later this month.

At present, Schwab carries a Zacks Rank of 4 (Sell) and LPL Financial has a Zacks Rank #3 (Hold).

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