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The Charles Schwab Corporation (SCHW) - $25 value - yours FREE >>
Interactive Brokers Group, Inc. (IBKR) - $25 value - yours FREE >>
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Interactive Brokers (IBKR) Reports a Rise in January DARTs
Interactive Brokers Group, Inc. (IBKR - Free Report) released the Electronic Brokerage segment’s performance metrics for January 2024. 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 and year-over-year basis.
Total client DARTs for the month were 2,201,000, which increased 12% from December 2023 and 11% year over year.
Cleared client DARTs for the month were 1,957,000, which increased 12% from December 2023 and 10% from January 2023. On an annualized basis, IBKR recorded a Cleared Average DARTs per customer account of 190. The metric grew 10% sequentially but declined 10% year over year.
IBKR’s total customer accounts rose 2% from the prior month and 23% from January 2023 to 2.63 million. Net new accounts were 63,800, witnessing a rise of 59% from December 2023 and 72% year over year.
Interactive Brokers’ total options contracts were 98.7 million in January 2024, increasing 11% from the prior month and 33% year over year. Futures contracts increased 19% on a sequential basis and 23% year over year to 18.5 million.
At the end of January 2024, client equity was $424 billion, which remained flat sequentially but grew 26% year over year. It recorded client credit balances of $102.5 billion, down 2% from December 2023 but rising 3% from January 2023. The company's customer margin loan balance of $44.3 billion was stable from the previous month and rose 12% year over year.
Over the past six months, shares of Interactive Brokers have gained 6.7% compared with the industry’s growth of 2.6%.
Currently, IBKR carries a Zacks Rank #3 (Hold).
Image Source: Zacks Investment Research
Two other brokerage firms, Charles Schwab Corporation (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) , will come out with their monthly performance metrics in the coming days.
At present, SCHW carries a Zacks Rank #4 (Sell). LPL Financial has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.