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Interactive Brokers (IBKR) March DARTs Up Y/Y on Strong Market

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Interactive Brokers Group, Inc. (IBKR - Free Report) released the Electronic Brokerage segment’s performance metrics for March 2021. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a surge in Daily Average Revenue Trades (DARTs) for the reported month.

Total client DARTs were 2,998,000, soaring 53% from March 2020 but down 19% from February 2021. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 522. This reflects a year-over-year fall of 13% and 23% sequentially.

Total customer accounts grew 74% from the prior-year month and 5% from February 2021 to 1.33 million. Net new accounts were 60,200, skyrocketing 51% from March 2020 but declining 21% from February 2021.

Interactive Brokers’ total options contracts were 79 million in March, up 64% from the year-ago month and 9% from the prior month. Futures contracts fell 29% on a year-over-year basis but rose 22% from the last month to 15.4 million.

At the end of March 2021, client equity was $330.6 billion, up 106% year over year and remained flat sequentially. Also, Interactive Brokers recorded client credit balances of $84.5 billion, up 30% from March 2020 but down 1% on a sequential basis. The company’s customer margin loan balance of $42.2 billion grew 113% year over year and was in line with the previous month.

Over the past six months, shares of Interactive Brokers have rallied 47.1% compared with 65.1% growth recorded by the industry it belongs to.

 

 

The company currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank 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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