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Interactive Brokers' (IBKR) October DARTs Decrease Y/Y
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Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year decline in Daily Average Revenue Trades (DARTs) for Oct 2016. The segment deals with the clearance and settling of trades for both individual and institutional clients globally.
Total client DARTs were 603,000, down 8% from Oct 2015 and 7% from Sep 2016. However, total customer accounts were 375,000, up 15% year over year and 1% from the prior month.
On an annualized basis, the company recorded Cleared Average DARTs per customer account of 374.
Interactive Brokers also provides data related to period-end statistics for client equity, credit balances and margin loan balances. For the period ended Oct 2016, client equity was $82.2 billion, up 24% year over year while edging down 1% from the prior month.
Moreover, Interactive Brokers recorded client credit balance of $41.7 billion for the reported month, up 16% year over year while declining 1% from prior month. Further, the company’s customer margin loan balance of $17.5 billion increased 13% from the prior-year period, however declined 3% from the preceding month.
We expect Interactive Brokers to witness improvement in monthly metrics, as it is well poised to gain from the volatility in the equity market. In addition, if such a market scenario persists, strong trading activities are expected to accelerate the company’s growth on the back of its technological excellence and cost advantage.
Currently, Interactive Brokers carries a Zacks Rank #4 (Sell).
Among other investment brokers, TD Ameritrade Holding Corporation (AMTD - Free Report) , The Charles Schwab Corporation (SCHW - Free Report) and E*TRADE Financial Corporation are expected to report their monthly metrics in the coming weeks.
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Interactive Brokers' (IBKR) October DARTs Decrease Y/Y
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year decline in Daily Average Revenue Trades (DARTs) for Oct 2016. The segment deals with the clearance and settling of trades for both individual and institutional clients globally.
Total client DARTs were 603,000, down 8% from Oct 2015 and 7% from Sep 2016. However, total customer accounts were 375,000, up 15% year over year and 1% from the prior month.
On an annualized basis, the company recorded Cleared Average DARTs per customer account of 374.
Interactive Brokers also provides data related to period-end statistics for client equity, credit balances and margin loan balances. For the period ended Oct 2016, client equity was $82.2 billion, up 24% year over year while edging down 1% from the prior month.
Moreover, Interactive Brokers recorded client credit balance of $41.7 billion for the reported month, up 16% year over year while declining 1% from prior month. Further, the company’s customer margin loan balance of $17.5 billion increased 13% from the prior-year period, however declined 3% from the preceding month.
We expect Interactive Brokers to witness improvement in monthly metrics, as it is well poised to gain from the volatility in the equity market. In addition, if such a market scenario persists, strong trading activities are expected to accelerate the company’s growth on the back of its technological excellence and cost advantage.
Currently, Interactive Brokers carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other investment brokers, TD Ameritrade Holding Corporation (AMTD - Free Report) , The Charles Schwab Corporation (SCHW - Free Report) and E*TRADE Financial Corporation are expected to report their monthly metrics in the coming weeks.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>