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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 February DARTs
Interactive Brokers Group, Inc. (IBKR - Free Report) released the Electronic Brokerage segment’s performance metrics for February 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 February were 2,243,000, which increased 11% from January 2024 and 15% year over year.
Cleared client DARTs were 2,180,000 in February, which increased 11% from January 2024 and 10% from February 2023. On an annualized basis, IBKR recorded a Cleared Average DARTs per customer account of 206. The metric grew 8% sequentially and 2% year over year.
IBKR’s total customer accounts rose 2% from the prior month and 24% from February 2023 to 2.69 million. Net new accounts were 61,900, witnessing a fall of 3% from January 2024 but surging 89% year over year.
Interactive Brokers’ total options contracts were 98.9 million in February 2024, which was relatively stable sequentially but jumped 33% year over year. Futures contracts decreased 7% on a sequential basis but grew 3% year over year to 17.3 million.
At the end of February 2024, client equity was $448.2 billion, which grew 6% sequentially and 35% year over year. IBKR recorded client credit balances of $102.9+ billion, stable with the January 2024 level and rising 5% from February 2023. The company's customer margin loan balance of $47.4 billion increased 7% from the previous month and 21% year over year.
Over the past six months, shares of Interactive Brokers have rallied 20%, outperforming the industry’s growth of 12.9%.
Image Source: Zacks Investment Research
Currently, IBKR carries a Zacks Rank #3 (Hold).
Two other brokerage firms, Charles Schwab (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.