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Interactive Brokers (IBKR) Records Decline in November DARTs

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Interactive Brokers Group, Inc. (IBKR - Free Report) released the Electronic Brokerage segment’s performance metrics for November 2023. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It 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 1,898,000, declining 2% from the October 2023 level and 3% year over year.

Cleared client DARTs for the month were 1,695,000, which decreased 2% from October 2023 and 3% from November 2022. On an annualized basis, IBKR recorded a Cleared Average DARTs per customer account of 170. The metric declined 3% sequentially and 21% from the prior-year period.

IBKR’s total customer accounts rose 2% from the prior month and 22% from November 2022 to 2.52 million. Net new accounts were 42,000, a decline of 13% from October 2023 and a rise of 63% from the prior-year period.

Interactive Brokers’ total options contracts were 87.4 million in November 2023, decreasing 6% from the prior month but growing 14% from the prior-year period. Futures contracts declined 17% on a sequential basis but remained stable from the prior-year period at 16.9 million.

At the end of November 2023, client equity was $404.3 billion, which increased 10% sequentially and 27% year over year. Interactive Brokers recorded client credit balances of $101.3 billion, up 5% from the October 2023 level and rising 6% from November 2022. The company's customer margin loan balance of $42.2 billion remained unchanged from the previous month and rose 8% year over year.

Over the past six months, shares of Interactive Brokers have lost 2.9% against the industry’s 6% rally.


Zacks Investment Research
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Currently, IBKR carries a Zacks Rank #2 (Buy). 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 come out with the monthly performance metrics in the coming days.

At present, Schwab carries a Zacks Rank #3 (Hold) and LPL Financial has a Zacks Rank #4 (Sell).

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