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Interactive Brokers (IBKR) Up 2.1% as October DARTs Improve

Interactive Brokers Group, Inc.’s IBKR Electronic Brokerage segment reported a year-over-year increase in Daily Average Revenue Trades (DARTs) for October 2017. The segment deals in clearance and settlement of trades for individual and institutional clients globally.

Total client DARTs came in at 698,000, up 16% from both October 2016 and September 2017. Also, total customer accounts jumped 24% year over year and 2% from the prior month to 465,000.

Further, net new accounts totaled 7,900 for the reported month, surging 76% from the prior-year period and 3% from the last month. However, on an annualized basis, the company recorded Cleared Average DARTs per customer account of 352,000 in October. This reflects a decrease of 6% year over year and 1% from the previous month.

Interactive Brokers’ total option contracts came in at 26.4 million, increasing 23% from October 2016 and 13% from September 2017. Future contracts grew 3% from October 2016, however decreased from the September 2017 level to 9.8 million.

At the end of October 2017, client equity was $120.6 billion, up 47% year over year and 4% from the previous month. Also, Interactive Brokers recorded client credit balance of $47.2 billion for the reported month, up 13% year over year and relatively on par with the prior month. Furthermore, the company’s customer margin loan balance of $25.3 billion jumped 45% from the prior-year period and 1% from the preceding month.

Following the announcement, shares of the company rallied 2.1%. Also, so far this year, Interactive Brokers’ shares have gained 48.5% against the industry’s gain of around 9.4%.

Currently, Interactive Brokers carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other investment brokers, TD Ameritrade Holding Corporation AMTD, The Charles Schwab Corp. SCHW and E*TRADE Financial Corp. ETFC are likely to deliver their respective monthly metrics information in the coming days.

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E*TRADE Financial Corporation (ETFC): Free Stock Analysis Report
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