Interactive Brokers (IBKR) Reports Increase in December DARTs

SCHW IBKR LPLA

Interactive Brokers Group, Inc. (IBKR - Free Report) released the Electronic Brokerage segment’s performance metrics for December 2023. 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 the month were 1,972,000, which increased 4% from the November 2023 level and 13% year over year.

Cleared client DARTs for the month were 1,753,000, which increased 3% from November 2023 and 12% from December 2022. On an annualized basis, IBKR recorded a Cleared Average DARTs per customer account of 172. The metric grew 1% sequentially but declined 9% from the prior-year period.

IBKR’s total customer accounts rose 2% from the prior month and 23% from December 2022 to 2.56 million. Net new accounts were 40,200, witnessing a decline of 4% from November 2023 and a rise of 58% from the prior-year period.

Interactive Brokers’ total options contracts were 89 million in December 2023, increasing 2% from the prior month and 27% from the prior-year period. Futures contracts declined 8% on a sequential basis but grew 4% from the prior-year period to 15.6 million.

At the end of December 2023, client equity was $426 billion, which increased 5% sequentially and 39% year over year. Interactive Brokers recorded client credit balances of $104.5 billion, up 3% from the November 2023 level and rising 10% from December 2022. The company's customer margin loan balance of $44.4 billion increased 5% from the previous month and rose 14% year over year.

Over the past six months, shares of Interactive Brokers have gained 1% compared with the industry’s growth of 12.8%.

Currently, IBKR carries a Zacks Rank #3 (Hold).

Two other brokerage firms, Charles Schwab (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) , will come out with their monthly performance metrics in the coming days.

At present, Schwab carries a Zacks Rank #4 (Sell) and LPL Financial has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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