Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
The Charles Schwab Corporation (SCHW) - free report >>
Interactive Brokers Group, Inc. (IBKR) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The Charles Schwab Corporation (SCHW) - free report >>
Interactive Brokers Group, Inc. (IBKR) - free report >>
Image: Bigstock
Interactive Brokers (IBKR) September DARTs Up on Volatile Markets
Interactive Brokers Group, Inc. (IBKR - Free Report) has released the Electronic Brokerage segment’s performance metrics for September 2021. The segment, which deals with the clearance and settlement of trades for individual as well as institutional clients globally, reported a surge in client Daily Average Revenue Trades (DARTs) both on a year-over-year and sequential basis. This was mainly driven by volatile markets.
Total client DARTs were 2,260,000, which grew 16% from September 2020 and 4% from August 2021. On an annualized basis, the company recorded Cleared Average DARTs per customer account of 334. The metric declined 26% year over year but grew 2% sequentially.
Total customer accounts soared 57% from the prior-year month and 3% from August 2021 to 1.54 million. Also, net new accounts were 43,400, up 29% from September 2020 and 5% from August 2021.
Interactive Brokers’ total options contracts were 69.7 million for September, up 30% from the year-ago month and 2% from the prior month. Futures contracts were stable on a year-over-year basis and grew 28% from the last month to 14 million.
At the end of September 2021, client equity was $353.8 billion, up 52% year over year but down 3% sequentially. Also, Interactive Brokers recorded client credit balances of $86.2 billion, up 22% from September 2020 and 2% on a sequential basis. The company’s customer margin loan balance of $50.2 billion jumped 67% year over year and 1% from the previous month.
Over the past year, shares of Interactive Brokers have rallied 30.1%, underperforming 80.4% growth recorded by the industry it belongs to.
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 discount brokers, Tradeweb Markets Inc. (TW - Free Report) is set to report monthly performance metrics in the coming days, while LPL Financial Holdings Inc. (LPLA - Free Report) and Charles Schwab (SCHW - Free Report) will announce the same along with their respective quarterly performance.