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Interactive Brokers (IBKR) Up as June DARTs Rise Sequentially
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Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) gained almost 1% following the release of its Electronic Brokerage segment’s performance metrics for June 2023. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a rise in client Daily Average Revenue Trades (DARTs) on a sequential basis.
Total client DARTs for the month were 1,960,000, which grew 5% from the May 2023 level but declined 3% year over year.
On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 192. The metric rose 3% sequentially but decreased 19% from the prior-year period. Cleared client DARTs for the month were 1,751,000, which increased 5% from May 2023 but fell 2% from June 2022.
IBKR’s total customer accounts rose 1% from the prior month and 19% from June 2022 to 2.29 million. Net new accounts were 32,500, down 4% from May 2023 but up 1% from the prior-year month.
Interactive Brokers’ total options contracts were 83.1 million in June 2023, increasing 4% from the prior month and 23% from the prior-year month. Futures contracts were relatively stable on a sequential basis but declined 2% year over year to 17.2 million.
At the end of June 2023, client equity was $365 billion, up 6% sequentially and 24% year over year. Interactive Brokers recorded client credit balances of $98.9 billion, on par with the May 2023 level and rose 7% from June 2022. The company's customer margin loan balance of $41.9 billion increased 5% from the previous month but declined 2% year over year.
So far this year, shares of Interactive Brokers have rallied 15.7% against the industry’s 4.9% fall.
Two other brokerage firms, Charles Schwab (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) , will report their monthly performance metrics along with second-quarter 2023 results.
SCHW is scheduled to come up with quarterly numbers on Jul 18, while LPLA is yet to announce the earnings release date.
At present, Schwab carries a Zacks Rank #3 and LPL Financial has a Zacks Rank #5 (Strong Sell).
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Interactive Brokers (IBKR) Up as June DARTs Rise Sequentially
Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) gained almost 1% following the release of its Electronic Brokerage segment’s performance metrics for June 2023. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a rise in client Daily Average Revenue Trades (DARTs) on a sequential basis.
Total client DARTs for the month were 1,960,000, which grew 5% from the May 2023 level but declined 3% year over year.
On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 192. The metric rose 3% sequentially but decreased 19% from the prior-year period. Cleared client DARTs for the month were 1,751,000, which increased 5% from May 2023 but fell 2% from June 2022.
IBKR’s total customer accounts rose 1% from the prior month and 19% from June 2022 to 2.29 million. Net new accounts were 32,500, down 4% from May 2023 but up 1% from the prior-year month.
Interactive Brokers’ total options contracts were 83.1 million in June 2023, increasing 4% from the prior month and 23% from the prior-year month. Futures contracts were relatively stable on a sequential basis but declined 2% year over year to 17.2 million.
At the end of June 2023, client equity was $365 billion, up 6% sequentially and 24% year over year. Interactive Brokers recorded client credit balances of $98.9 billion, on par with the May 2023 level and rose 7% from June 2022. The company's customer margin loan balance of $41.9 billion increased 5% from the previous month but declined 2% year over year.
So far this year, shares of Interactive Brokers have rallied 15.7% against the industry’s 4.9% fall.
Image Source: Zacks Investment Research
IBKR currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Two other brokerage firms, Charles Schwab (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) , will report their monthly performance metrics along with second-quarter 2023 results.
SCHW is scheduled to come up with quarterly numbers on Jul 18, while LPLA is yet to announce the earnings release date.
At present, Schwab carries a Zacks Rank #3 and LPL Financial has a Zacks Rank #5 (Strong Sell).