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Interactive Brokers (IBKR) August DARTs Up on Solid Markets

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Interactive Brokers Group, Inc. (IBKR - Free Report) has released the Electronic Brokerage segment’s performance metrics for August 2021. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a surge in client Daily Average Revenue Trades (DARTs) on a year-over-year basis. This was mainly driven by upbeat market performance.

Total client DARTs were 2,170,000, which grew 24% from August 2020 but declined 8% from July 2021. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 329. This reflects a fall of 22% year over year and 12% sequentially.

Total customer accounts soared 57% from the prior-year month and 3% from July 2021 to 1.49 million. Also, net new accounts were 41,500, up 18% from August 2020 and 12% from July 2021.

Interactive Brokers’ total options contracts were 68.6 million for August, up 34% from the year-ago month and 2% from the prior month. Futures contracts fell 2% on a year-over-year basis and 5% from the last month to 10.9 million.

At the end of August 2021, client equity was $364.6 billion, up 53% year over year and 4% sequentially. Also, Interactive Brokers recorded client credit balances of $84.7 billion, up 16% from August 2020 and 3% on a sequential basis. The company’s customer margin loan balance of $49.7 billion jumped 63% year over year and 4% from the previous month.

Over the past year, shares of Interactive Brokers have rallied 23.7%, underperforming 82.9% growth recorded by the industry it belongs to.
 

Zacks Investment Research
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Interactive Brokers 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, Tradeweb Markets Inc. (TW - Free Report) , LPL Financial Holdings Inc. (LPLA - Free Report) and Charles Schwab (SCHW - Free Report) are set to report monthly performance metrics in the coming days.