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Interactive Brokers (IBKR) Up 6% on Rise in October DARTs

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Shares of Interactive Brokers Group, Inc. (IBKR - Free Report) have moved nearly 6% up since the release of its Electronic Brokerage segment’s performance metrics for October 2018, last week. 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 986,000, surging 41% from October 2017 and 22% from September 2018. Further, total customer accounts grew 26% from the prior-year month and 2% prior month to 585,100.

Net new accounts totaled 9,500, increasing 20% year over year but declining 3% sequentially. On an annualized basis, the company recorded Cleared Average DARTs per customer account of 383,000. This reflects a rise of 9% year over year and 19% from the previous month.

Interactive Brokers’ total options contracts were 37.1 million, jumping41% from October 2017and 48% from September 2018. Likewise, futures contracts surged 59% from the prior-year month and 66% from last month to 15.5 million.

At the end of October 2018, client equity was $133.9 billion, up 11% year over year but declined 6% from the previous month. Also, Interactive Brokers recorded client credit balance of $50.9 billion, increasing 7% from the prior-year month and stable sequentially. The company’s customer margin loan balance of $28.8 billion grew 15% from October 2017 but fell 6% from the preceding month.

Interactive Brokers’ shares have risen just 1% over the past year against the industry’s decline of 4.1%.

Interactive Brokers 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 in the coming days.

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