Interactive Brokers Group, Inc. (IBKR - Free Report) released its Electronic Brokerage segment’s performance metrics for September 2018. The segment, which deals with clearance and settlement of trades for individual and institutional clients globally, reported a rise in Daily Average Revenue Trades (DARTs).
Total client DARTs came in at 807,000, increasing 9% from August 2018 and16% from September 2017. Further, total customer accounts grew 2% from the prior month and 26% year over year to 575,600 in the reported month.
Net new accounts totaled 9,800, declining 6% from last month but rising27% from the prior-year month. On an annualized basis, the company recorded Cleared Average DARTs per customer account of 321,000. This reflects a rise of 6% from the previous month but a fall of 10% year over year.
Interactive Brokers’ total options contracts were 25.1 million, down 17% from August 2018 but up 7% from September 2017. Futures contracts decreased 8% from last month and7% from the prior-year month to 9.4 million.
At the end of September 2018, client equity was $142.5 billion, up 1% from the previous month and 23% year over year. Also, Interactive Brokers recorded client credit balance of $50.8 billion, increasing 2% from the prior month and 7% year over year. The company’s customer margin loan balance of $30.7 billion grew 5% from the preceding month and 22% from the prior-year period.
Interactive Brokers’ shares have rallied 18.3% over the past year compared with the industry’s rise of 2.2%.
The company currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Among other investment brokers, TD Ameritrade Holding Corporation (AMTD - Free Report) , The Charles Schwab Corp. (SCHW - Free Report) and E*TRADE Financial Corp. (ETFC - Free Report) are likely to come up with their respective monthly metrics information along with third-quarter 2018 earnings releases.
Best Electric Car Stock? You'll Never Guess It.
Zacks Research has released a report that may shock many investors. One stock stands out as the best way to invest in the surge to electric cars. And it's not the one you may think!
Much like petroleum 150 years ago, lithium battery power is set to shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge. With battery prices plummeting and charging stations set to multiply, revenues that were already at $31 billion in 2016 are expected to blast to over $67 billion by the end of 2022.
See Zacks Best EV Stock Free >>