Shares of Interactive Brokers Group, Inc. IBKR have rallied 7% since the release of its Electronic Brokerage segment’s performance metrics for September. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a sequential rise in Daily Average Revenue Trades (DARTs).
Cleared client DARTs for the month were 1,758,000, up 1% from August 2022 but down 13% from September 2021. On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 221. The metric was flat sequentially but plunged 34% from the prior-year period.
Further, total client DARTs were 1,961,000 in September 2022, at par with the August level and down 13% year over year.
Interactive Brokers’ total customer accounts rose 1% from the prior month’s level and 31% from September 2021, reaching 2.01 million. Net new accounts were 24,300, plunging 35% from August 2022 and 44% from the prior-year month.
Interactive Brokers’ total options contracts were 71.5 million in September, falling 3% from the prior month but increasing 3% from the prior-year month. Futures contracts were 19 million, increasing 18% on a sequential basis and 36% year over year.
At the end of September 2022, client equity was $287.1 billion, down 7% sequentially and 19% year over year. Interactive Brokers recorded client credit balances of $94.7 billion, declining 1% from August 2022 but growing 10% from September 2021. IBKR’s customer margin loan balance of $40.5 billion fell 6% from the previous month and 19% year over year.
Over the past six months, shares of Interactive Brokers have gained 6.6% against the industry’s 2.7% decline.
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Interactive Brokers currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some other brokerage firms like Charles Schwab SCHW and LPL Financial Holdings Inc. LPLA will come out with monthly performance metrics along with their quarterly numbers.
At present, Schwab carries a Zacks Rank #3 (Hold), while LPL Financial sports a Zacks Rank of 1.
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