Interactive Brokers (IBKR) Reports a Rise in February DARTs
Interactive Brokers Group, Inc. IBKR released the Electronic Brokerage segment’s performance metrics for February 2024. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a rise in client Daily Average Revenue Trades (DARTs) on a sequential and year-over-year basis.
Total client DARTs for February were 2,243,000, which increased 11% from January 2024 and 15% year over year.
Cleared client DARTs were 2,180,000 in February, which increased 11% from January 2024 and 10% from February 2023. On an annualized basis, IBKR recorded a Cleared Average DARTs per customer account of 206. The metric grew 8% sequentially and 2% year over year.
IBKR’s total customer accounts rose 2% from the prior month and 24% from February 2023 to 2.69 million. Net new accounts were 61,900, witnessing a fall of 3% from January 2024 but surging 89% year over year.
Interactive Brokers’ total options contracts were 98.9 million in February 2024, which was relatively stable sequentially but jumped 33% year over year. Futures contracts decreased 7% on a sequential basis but grew 3% year over year to 17.3 million.
At the end of February 2024, client equity was $448.2 billion, which grew 6% sequentially and 35% year over year. IBKR recorded client credit balances of $102.9+ billion, stable with the January 2024 level and rising 5% from February 2023. The company's customer margin loan balance of $47.4 billion increased 7% from the previous month and 21% year over year.
Over the past six months, shares of Interactive Brokers have rallied 20%, outperforming the industry’s growth of 12.9%.
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Currently, IBKR carries a Zacks Rank #3 (Hold).
Two other brokerage firms, Charles Schwab SCHW and LPL Financial Holdings Inc. LPLA, will come out with their monthly performance metrics in the coming days.
At present, SCHW carries a Zacks Rank #4 (Sell).
LPL Financial has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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