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Interactive Brokers' June DARTs Improve on Volatile Markets

Zacks Equity Research
·2 min read

Interactive Brokers Group IBKR 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, Charles Schwab SCHW and E*TRADE Financial ETFC will report monthly performance metrics along with second-quarter 2020 results soon.

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Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report
 
ETRADE Financial Corporation (ETFC) : Free Stock Analysis Report
 
The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report
 
LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report
 
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Zacks Investment Research