U.S. Markets open in 1 hr 17 mins

Interactive Brokers' September DARTs Decline Sequentially

Zacks Equity Research

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

Total client DARTs were 842,000, down 9% from August 2019 but up 4% from September 2018. Total customer accounts grew 1% from the prior month and 16% from the prior-year month to 666,200.

Net new accounts were 6,700, declining 9% sequentially and 32% year over year. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 288,000. This reflects a fall of 11% from August 2019 and 10% from September 2018.

Interactive Brokers’ total options contracts were 30.6 million, down 10% from August 2019 but up 22% from September 2018. Also, futures contracts declined 23% from the prior month but grew 17% from the year-ago month to 10.9 million.

At the end of September, client equity was $156.6 billion, up 1% sequentially and 10% year over year. Further, Interactive Brokers recorded client credit balance of $55.6 billion, up 2% on a sequential basis and 9% from September 2018. The company’s customer margin loan balance of $25.6 billion was on par with August 2019 level but declined 17% from the prior-year month.

Among other investment brokers, LPL Financial Holdings Inc. LPLA, Charles Schwab SCHW and E*TRADE Financial ETFC are likely to report monthly metrics information soon along with third-quarter results.

Just Released: Zacks’ 7 Best Stocks for Today

Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.6% per year.

These 7 were selected because of their superior potential for immediate breakout.

See these time-sensitive tickers now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report
LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report
The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report
E*TRADE Financial Corporation (ETFC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research