We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Interactive Brokers' September DARTs Up Y/Y on Solid Markets
Read MoreHide Full Article
Interactive Brokers Group (IBKR - Free Report) recently released the Electronic Brokerage segment’s performance metrics for September 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 a significant rise in trading activities owing to the coronavirus pandemic.
Total client DARTs were 1,953,000, surging 132% from September 2019 and 12% from August 2020. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 453,000. This reflects a jump of 58% year over year and 8% sequentially.
Total customer accounts surged 47% from the prior-year month and 4% from August 2020 to 981,400. Net new accounts were 33,600, soaring 501% from September 2019 but declining 4% from August 2020.
Interactive Brokers’ total option contracts were 53.4 million, rising 74% from August 2019 and 5% from the prior month. Futures contracts climbed 28% on a year-over-year basis and 26% from the last month to 14 million.
At the end of September, client equity was $232.7 billion, up 49% year over year but 2% lower sequentially. Also, Interactive Brokers recorded a client credit balance of $70.8 billion, up 27% from September 2019 but down 3% on a sequential basis. The company’s customer margin loan balance of $30 billion grew 17% from September 2019 but declined 1% from the prior month.
Shares of Interactive Brokers have gained 8.1% over the past six months compared with 19.7% growth of the industry it belongs to.
Among other discount brokers, LPL Financial Holdings Inc. (LPLA - Free Report) , Charles Schwab (SCHW - Free Report) and E*TRADE Financial are set to report monthly performance metrics in the coming days.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Interactive Brokers' September DARTs Up Y/Y on Solid Markets
Interactive Brokers Group (IBKR - Free Report) recently released the Electronic Brokerage segment’s performance metrics for September 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 a significant rise in trading activities owing to the coronavirus pandemic.
Total client DARTs were 1,953,000, surging 132% from September 2019 and 12% from August 2020. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 453,000. This reflects a jump of 58% year over year and 8% sequentially.
Total customer accounts surged 47% from the prior-year month and 4% from August 2020 to 981,400. Net new accounts were 33,600, soaring 501% from September 2019 but declining 4% from August 2020.
Interactive Brokers’ total option contracts were 53.4 million, rising 74% from August 2019 and 5% from the prior month. Futures contracts climbed 28% on a year-over-year basis and 26% from the last month to 14 million.
At the end of September, client equity was $232.7 billion, up 49% year over year but 2% lower sequentially. Also, Interactive Brokers recorded a client credit balance of $70.8 billion, up 27% from September 2019 but down 3% on a sequential basis. The company’s customer margin loan balance of $30 billion grew 17% from September 2019 but declined 1% from the prior month.
Shares of Interactive Brokers have gained 8.1% over the past six months compared with 19.7% 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 - Free Report) , Charles Schwab (SCHW - Free Report) and E*TRADE Financial are set to report monthly performance metrics in the coming days.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>