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Interactive Brokers (IBKR) October DARTs Up on Volatile Markets

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

Total client DARTs were 2,305,000, which grew 31% from October 2020 and 2% from September 2021. On an annualized basis, the company recorded Cleared Average DARTs per customer account of 333. The metric declined 16% year over year but was relatively stable sequentially.

Total customer accounts soared 57% from the prior-year month and 3% from September 2021 to 1.58 million. Also, net new accounts were 46,300, jumping 76% from October 2020 and 7% from the prior month.

Interactive Brokers’ total options contracts were 74.8 million in October, up 54% from the year-ago month and 7% from the prior month. Futures contracts increased 8% on a year-over-year basis but declined 8% from the last month to 12.9 million.

At the end of October 2021, client equity was $380.9 billion, up 64% year over year and 8% sequentially. Interactive Brokers recorded client credit balances of $87.2 billion, up 22% from October 2020 and 1% on a sequential basis. The company’s customer margin loan balance of $53.7 billion surged 67% year over year and 7% from the previous month.

Over the past year, shares of Interactive Brokers have rallied 53.8%, underperforming 85.1% growth recorded by the industry it belongs to.

Zacks Investment ResearchImage Source: Zacks Investment Research

Interactive Brokers 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, 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.