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Interactive Brokers' June DARTs Improve on Volatile Markets
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Interactive Brokers Group (IBKR - Free Report) recently released the Electronic Brokerage segment’s performance metrics for June 2020. The segment, which deals with clearance and settlement of trades for individual and institutional clients globally, reported a substantial surge in Daily Average Revenue Trades (DARTs). This was attributed to a significant rise in trading activities owing to concerns over coronavirus.
Total client DARTs were 1,862,000, surging 131% from June 2019 and 13% from May 2020. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 487,000. This reflects a jump of 74% year over year and 9% sequentially.
Total customer accounts jumped 36% from the prior-year month and 4% from May 2020 to 875,900. Net new accounts were 37,200, increasing 500% from June 2019 and 12% from May 2020.
Interactive Brokers’ total options contracts were 53.8 million, rising 108% from June 2019 and 24% from the prior month. Futures contracts grew 42% on a year-over-year basis and 15% from the last month to 15 million.
At the end of June, client equity was $203.2 billion, up 33% year over year and 7% sequentially. Also, Interactive Brokers recorded a client credit balance of $71 billion, up 30% from June 2019 and 1% on a sequential basis. The company’s customer margin loan balance of $24.9 billion declined 3% from June 2019 but increased 7% from the prior month.
Shares of Interactive Brokers have lost 9.4% so far this year compared with 15% fall of the industry it belongs to.
Among other discount brokers, LPL Financial Holdings Inc. (LPLA - Free Report) , Charles Schwab (SCHW - Free Report) and E*TRADE Financial will report monthly performance metrics along with second-quarter 2020 results soon.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
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Interactive Brokers' June DARTs Improve on Volatile Markets
Interactive Brokers Group (IBKR - Free Report) recently released the Electronic Brokerage segment’s performance metrics for June 2020. The segment, which deals with clearance and settlement of trades for individual and institutional clients globally, reported a substantial surge in Daily Average Revenue Trades (DARTs). This was attributed to a significant rise in trading activities owing to concerns over coronavirus.
Total client DARTs were 1,862,000, surging 131% from June 2019 and 13% from May 2020. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 487,000. This reflects a jump of 74% year over year and 9% sequentially.
Total customer accounts jumped 36% from the prior-year month and 4% from May 2020 to 875,900. Net new accounts were 37,200, increasing 500% from June 2019 and 12% from May 2020.
Interactive Brokers’ total options contracts were 53.8 million, rising 108% from June 2019 and 24% from the prior month. Futures contracts grew 42% on a year-over-year basis and 15% from the last month to 15 million.
At the end of June, client equity was $203.2 billion, up 33% year over year and 7% sequentially. Also, Interactive Brokers recorded a client credit balance of $71 billion, up 30% from June 2019 and 1% on a sequential basis. The company’s customer margin loan balance of $24.9 billion declined 3% from June 2019 but increased 7% from the prior month.
Shares of Interactive Brokers have lost 9.4% so far this year compared with 15% fall of the industry it belongs to.
The stock 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, LPL Financial Holdings Inc. (LPLA - Free Report) , Charles Schwab (SCHW - Free Report) and E*TRADE Financial will report monthly performance metrics along with second-quarter 2020 results soon.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>