Shares of Interactive Brokers Group, Inc. IBKR gained almost 2.3% following the release of its Electronic Brokerage segment’s performance metrics for July 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 1,991,000, which grew 2% from the June 2023 level and 9% year over year.
Cleared client DARTs for the month were 1,779,000, which increased 2% from June 2023 and 10% from July 2022. On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 193. The metric rose 1% sequentially but decreased 8% from the prior-year period.
IBKR’s total customer accounts rose 2% from the prior month and 19% from July 2022 to 2.33 million. Net new accounts were 36,300, up 12% from June 2023 and 32% from the prior-year month.
Interactive Brokers’ total options contracts were 78.7 million in July 2023, decreasing 5% from the prior month but growing 30% from the prior-year month. Futures contracts declined 19% on a sequential basis and 4% year over year to 13.9 million.
At the end of July 2023, client equity was $386.2 billion, up 6% sequentially and 23% year over year. Interactive Brokers recorded client credit balances of $98.8 billion, on par with the June 2023 level and rising 5% from July 2022. The company's customer margin loan balance of $43.2 billion increased 2% from the previous month and 2% year over year.
So far this year, shares of Interactive Brokers have rallied 25.8% against the industry’s 1.3% fall.
Image Source: Zacks Investment Research
IBKR currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Two other brokerage firms, Charles Schwab SCHW and LPL Financial Holdings Inc. LPLA, are expected to report monthly performance metrics in the coming days.
At present, both Schwab and LPL Financial carry a Zacks Rank #3.
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