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Interactive Brokers (IBKR) Reports Rise in September DARTs

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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.

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