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' (IBKR) October DARTs Up on Higher Trading
Read MoreHide Full Article
Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) gained 2% following the release of its Electronic Brokerage segment’s performance metrics for October 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 the significant rise in trading activities owing to the coronavirus pandemic and the impending U.S. Presidential election results.
Total client DARTs were 1,762,000, surging 121% from October 2019 but declining 10% from September 2020. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 396. This reflects a jump of 47% year over year but a fall of 13% sequentially.
Total customer accounts climbed 50% from the prior-year month and 3% from September 2020 to 1.1 million. Net new accounts came in at 26,300, soaring 265% from October 2019 but declining 22% from September 2020.
Interactive Brokers’ total option contracts were 48.6 million, up 49% from October 2019 but down 9% from the prior month. Futures contracts climbed 10% on a year-over-year basis but fell 14% from the last month to 12 million.
At the end of October, client equity was $232.6 billion, up 43% year over year and unchanged sequentially. Also, Interactive Brokers recorded a client credit balance of $71.5 billion, up 26% from October 2019 and 1% on a sequential basis. The company’s customer margin loan balance of $31.7 billion grew 25% from October 2019 and 6% from the prior month.
Shares of Interactive Brokers have gained 21.1% over the past six months, outperforming 18.9% growth of the industry it belongs to.
Among other discount brokers, LPL Financial Holdings Inc. (LPLA - Free Report) , Charles Schwab (SCHW - Free Report) and Tradeweb Markets Inc. (TW - Free Report) are set to report monthly performance metrics in the coming days.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
Image: Bigstock
Interactive Brokers' (IBKR) October DARTs Up on Higher Trading
Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) gained 2% following the release of its Electronic Brokerage segment’s performance metrics for October 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 the significant rise in trading activities owing to the coronavirus pandemic and the impending U.S. Presidential election results.
Total client DARTs were 1,762,000, surging 121% from October 2019 but declining 10% from September 2020. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 396. This reflects a jump of 47% year over year but a fall of 13% sequentially.
Total customer accounts climbed 50% from the prior-year month and 3% from September 2020 to 1.1 million. Net new accounts came in at 26,300, soaring 265% from October 2019 but declining 22% from September 2020.
Interactive Brokers’ total option contracts were 48.6 million, up 49% from October 2019 but down 9% from the prior month. Futures contracts climbed 10% on a year-over-year basis but fell 14% from the last month to 12 million.
At the end of October, client equity was $232.6 billion, up 43% year over year and unchanged sequentially. Also, Interactive Brokers recorded a client credit balance of $71.5 billion, up 26% from October 2019 and 1% on a sequential basis. The company’s customer margin loan balance of $31.7 billion grew 25% from October 2019 and 6% from the prior month.
Shares of Interactive Brokers have gained 21.1% over the past six months, outperforming 18.9% 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 Tradeweb Markets Inc. (TW - Free Report) are set to report monthly performance metrics in the coming days.
Zacks’ Single Best Pick to Double
From thousands of stocks, 5 Zacks experts each picked their favorite to gain +100% or more in months to come. From those 5, Zacks Director of Research, Sheraz Mian hand-picks one to have the most explosive upside of all.
With users in 180 countries and soaring revenues, it’s set to thrive on remote working long after the pandemic ends. No wonder it recently offered a stunning $600 million stock buy-back plan.
The sky’s the limit for this emerging tech giant. And the earlier you get in, the greater your potential gain.
Click Here, See It Free >>