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Interactive Brokers' (IBKR) December DARTs Up on Solid Trading

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Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) gained 3.15%, following the release of its Electronic Brokerage segment’s performance metrics for December 2020. The segment, which deals with the 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 rise can be attributed to the significant increase in trading activities owing to the coronavirus pandemic, favorable development regarding the vaccine and the Brexit deal.

Total client DARTs were 2,301,000, soaring 198% from December 2019 and in line with November 2020. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 486. This reflects a year-over-year jump of a whopping 92% but a 3% decline sequentially.

Total customer accounts climbed 56% from the prior-year month and 3% from November 2020 to 1.07 million. Net new accounts were 36,200, skyrocketing 326% from December 2019 and rising 24% from November 2020.

Interactive Brokers’ total options contracts were 59.46 million, up 92% from December 2019 and 12% from the prior month. Futures contracts climbed 17% on a year-over-year basis but fell 8% from the last month to 10.97 million.

At the end of December 2020, client equity was $288.6 billion, up 66% year on year and 7% sequentially. Also, Interactive Brokers recorded client credits balances of $77.7 billion, up 34% from December 2019 and 3% on a sequential basis. The company’s customer margin loan balance of $39 billion grew 26% from December 2019 and 18% from the previous month.

Over the past six months, shares of Interactive Brokers have rallied 34.8% compared with 45% growth recorded by the industry it belongs to.

The company currently carries a Zacks Rank #3 (Hold). 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.

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