Interactive Brokers (IBKR) Reports Increase in December DARTs

Interactive Brokers Group, Inc. IBKR released the Electronic Brokerage segment’s performance metrics for December 2023. 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 the month were 1,972,000, which increased 4% from the November 2023 level and 13% year over year.

Cleared client DARTs for the month were 1,753,000, which increased 3% from November 2023 and 12% from December 2022. On an annualized basis, IBKR recorded a Cleared Average DARTs per customer account of 172. The metric grew 1% sequentially but declined 9% from the prior-year period.

IBKR’s total customer accounts rose 2% from the prior month and 23% from December 2022 to 2.56 million. Net new accounts were 40,200, witnessing a decline of 4% from November 2023 and a rise of 58% from the prior-year period.

Interactive Brokers’ total options contracts were 89 million in December 2023, increasing 2% from the prior month and 27% from the prior-year period. Futures contracts declined 8% on a sequential basis but grew 4% from the prior-year period to 15.6 million.

At the end of December 2023, client equity was $426 billion, which increased 5% sequentially and 39% year over year. Interactive Brokers recorded client credit balances of $104.5 billion, up 3% from the November 2023 level and rising 10% from December 2022. The company’s customer margin loan balance of $44.4 billion increased 5% from the previous month and rose 14% year over year.

Over the past six months, shares of Interactive Brokers have gained 1% compared with the industry’s growth of 12.8%.

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Currently, IBKR carries a Zacks Rank #3 (Hold).

Two other brokerage firms, Charles Schwab SCHW and LPL Financial Holdings Inc. LPLA, will come out with their monthly performance metrics in the coming days.

At present, Schwab carries a Zacks Rank #4 (Sell) and LPL Financial has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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