Interactive Brokers Group, Inc. IBKR has released the Electronic Brokerage segment’s performance metrics for May 2024. 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).
Total client DARTs for May were 2,360,000, which increased 27% from May 2023 and 1% from the last month.
On an annualized basis, the Cleared Average DARTs per customer account was 186 for May 2024. The metric was stable on a year-over-year basis and declined 1% from April 2024.
IBKR’s total customer accounts rose 27% from the prior-year month and 2% from April 2024 to 2.86 million. Net new accounts were 57,200, witnessing a surge of 69% from May 2023. However, the metric declined 6% sequentially.
Interactive Brokers’ total options contracts were 103.9 million in May 2024, which rose 31% year over year but fell 2% sequentially. Future contracts increased 2% year over year but decreased 15% from April 2024 to 17.6 million.
At the end of April 2024, client equity was $486.3 billion, which grew 41% year over year and 6% from the last month. IBKR recorded client credit balances of $106.7 billion, up 8% from May 2023 and 1% from the April 2024 level. The company's customer margin loan balance of $53.1 billion increased 33% from the year-ago month and 5% from the last month.
Over the past three months, shares of Interactive Brokers have rallied 14%, outperforming the industry’s growth of 9.5%.
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Currently, IBKR carries a Zacks Rank #2 (Buy).
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, SCHW and LPLA each carry 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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Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report
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