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Interactive Brokers (IBKR) Records a Decline in March DARTs

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Interactive Brokers Group, Inc. (IBKR - Free Report) has released the Electronic Brokerage segment’s performance metrics for March 2022. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a decline in client Daily Average Revenue Trades (DARTs) on a sequential and year-over-year basis.

Total client DARTs for the month were 2,456,000, down 2% from the February 2022 level and 18% year over year. On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 306. The metric declined 4% sequentially and 41% from the prior-year period.

Interactive Brokers’ total customer accounts rose 3% from the prior month’s level and 36% from March 2021, reaching 1.81 million. Net new accounts were 44,200, up 15% from February 2022 but down 27% from the prior-year month.

Interactive Brokers’ total options contracts were 85.3 million in February, growing 20% from the prior month’s figure and 8% from the prior-year month. Futures contracts also increased 8% on a sequential basis and 19% year over year to 18.3 million.

At the end of March 2022, client equity was $355.9 billion, up 2% sequentially and 8% year over year. Interactive Brokers recorded client credit balances of $92.5 billion, rising 4% from February 2022 and 9% from March 2021. IBKR’s customer margin loan balance of $48.2 billion decreased 2% from the previous month but grew 14% year over year.

Over the past six months, shares of Interactive Brokers have lost 0.5% compared with the industry’s 8.5% fall.

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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.

Some other brokerage firms like Charles Schwab (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) will come out with monthly performance metrics later this month along with their respective quarterly results.

At present, both Schwab and LPL Financial carry a Zacks Rank #3 (Hold).


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