September Interactive Brokers (IBKR) DART in volatile markets
Interactive Broker Group, Inc. IBKR released performance metrics for the Electronic Brokerage segment for September 2021. The segment, which deals with clearing and settlement of transactions for individual and institutional clients globally, reported an increase in daily average income transactions ( DART) from clients both year-on-year and sequentially. This development is mainly due to the volatility of the markets.
The total number of DART clients was 2,260,000, which increased 16% from September 2020 and 4% from August 2021. On an annualized basis, the company recorded an average of cleared DARTs per account customer of 334. The metric decreased 26% year over year, but increased 2% sequentially. .
Total accounts receivable climbed 57% from the month of the previous year and 3% from August 2021 to 1.54 million. In addition, the new net counts were 43,400, up 29% from September 2020 and 5% from August 2021.
Interactive Brokers’ total option contracts stood at 69.7 million for September, up 30% from the month of the previous year and 2% from the previous month. Futures contracts were flat year over year and were up 28% from last month to 14 million.
At the end of September 2021, customer equity stood at $ 353.8 billion, up 52% year-on-year but down 3% sequentially. Additionally, Interactive Brokers recorded customer credit balances of $ 86.2 billion, up 22% from September 2020 and 2% on a sequential basis. The company’s $ 50.2 billion customer margin loan balance jumped 67% year-over-year and 1% from the previous month.
Over the past year, shares of Interactive Brokers have risen 30.1%, underperforming the 80.4% growth recorded by the industry to which it belongs.
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Interactive Brokers currently holds a Zacks Rank # 3 (Hold). You can see The full list of today’s Zacks # 1 Rank (Fort Buy) stocks here.
Among other discount brokers, Tradeweb Markets Inc. TW is expected to release monthly performance metrics in the coming days, while LPL Financial Management Inc. LPLA and Charles Schwab SCHW will announce the same with their respective quarterly performances.
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