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Interactive Brokers' July DARTs Rise Y/Y on Volatile Markets
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Interactive Brokers Group (IBKR - Free Report) recently released the Electronic Brokerage segment’s performance metrics for July 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 concerns over coronavirus.
Total client DARTs were 1,795,000, surging 124% from July 2019 but declining 4% from June 2020. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 451,000. This reflects a jump of 63% year over year but 7% sequential decline.
Total customer accounts surged 40% from the prior-year month and 4% from June 2020 to 912,700. Net new accounts were 36,800, increasing 404% from July 2019 but inching down 1% from June 2020.
Interactive Brokers’ total option contracts were 49.1 million, rising 72% from July 2019 but falling 9% from the prior month. Futures contracts grew 32% on a year-over-year basis but declined 10% from the last month to 13.5 million.
At the end of July, client equity was $218.6 billion, up 40% year over year and 8% sequentially. Also, Interactive Brokers recorded a client credit balance of $72.5 billion, up 30% from July 2019 and 2% on a sequential basis. The company’s customer margin loan balance of $28.4 billion grew 7% from July 2019 and 14% from the prior month.
Shares of Interactive Brokers have gained 8.8% so far this year against 14% fall 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 will report monthly performance metrics in the coming days.
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Interactive Brokers' July DARTs Rise Y/Y on Volatile Markets
Interactive Brokers Group (IBKR - Free Report) recently released the Electronic Brokerage segment’s performance metrics for July 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 concerns over coronavirus.
Total client DARTs were 1,795,000, surging 124% from July 2019 but declining 4% from June 2020. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 451,000. This reflects a jump of 63% year over year but 7% sequential decline.
Total customer accounts surged 40% from the prior-year month and 4% from June 2020 to 912,700. Net new accounts were 36,800, increasing 404% from July 2019 but inching down 1% from June 2020.
Interactive Brokers’ total option contracts were 49.1 million, rising 72% from July 2019 but falling 9% from the prior month. Futures contracts grew 32% on a year-over-year basis but declined 10% from the last month to 13.5 million.
At the end of July, client equity was $218.6 billion, up 40% year over year and 8% sequentially. Also, Interactive Brokers recorded a client credit balance of $72.5 billion, up 30% from July 2019 and 2% on a sequential basis. The company’s customer margin loan balance of $28.4 billion grew 7% from July 2019 and 14% from the prior month.
Shares of Interactive Brokers have gained 8.8% so far this year against 14% fall 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 will report monthly performance metrics in the coming days.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>