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Interactive Brokers (IBKR) Reports Y/Y Rise 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 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 year-over-year basis but the metric declined sequentially.

Total client DARTs for March were 2,412,000, which increased 17% from March 2023 but dipped 1% from the last month.

Cleared client DARTs were 2,146,000 in March, which grew 16% from the last year month but fell 2% from February 2024. On an annualized basis, IBKR recorded a Cleared Average DARTs per customer account of 199. The metric decreased 7% year over year and 3% sequentially.

IBKR’s total customer accounts rose 25% from the prior-year month and 2% from February 2024 to 2.75 million. Net new accounts were 58,700, witnessing a surge of 70% from March 2023 but declining 5% sequentially.

Interactive Brokers’ total options contracts were 98.5 million in March 2024, which rose 9% year over year and were relatively stable sequentially. Futures contracts decreased 24% year over year and were stable on a sequential basis.

At the end of March 2024, client equity was $465.9 billion, which grew 36% year over year and 4% sequentially. IBKR recorded client credit balances of $104.9 billion, up 9% from March 2023 and 2% from February 2024 level. The company's customer margin loan balance of $51.2 billion jumped 30% from the prior-year month and 9% from the last month.

Over the past three months, shares of Interactive Brokers have rallied 29.3%, significantly outperforming the industry’s growth of 11.4%.


Zacks Investment Research
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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 along with their quarterly results.

At present, both SCHW and LPLA also carry a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here..

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