Yahoo Finance Interactive Brokers (IBKR) Records Decline in March DARTs
Interactive Brokers Group, Inc. IBKR has released the Electronic Brokerage segment’s performance metrics for March 2023. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a decline in client Daily Average Revenue Trades (DARTs) on a sequential and a year-over-year basis.
Total client DARTs for the month were 2,055,000, declining 3% from the February 2023 level and down 16% year over year.
On an annualized basis, IBKR recorded Cleared Average DARTs per customer account of 213. The metric declined 4% sequentially and 30% from the prior-year period. Cleared client DARTs for the month were 1,854,000, declining 3% from February 2023 and down 15% from March 2022.
IBKR’s total customer accounts rose 2% from the prior month and 21% from March 2022 to 2.20 million. Net new accounts were 34,500, up 6% from February 2023 but down 22% from the prior-year month.
Interactive Brokers’ total options contracts were 90.3 million in March 2023, increasing 21% from the prior month and 6% from the prior-year month. Futures contracts grew 35% on a sequential basis and 25% year over year to 22.8 million.
At the end of March 2023, client equity was $343.1 billion, up 3% sequentially but down 4% year over year. Interactive Brokers recorded client credit balances of $96.6 billion, down 1% from February 2023 but up 4% from March 2022. IBKR’s customer margin loan balance of $39.4 billion increased 1% from the previous month but declined 18% year over year.
Over the past six months, shares of Interactive Brokers have gained 15.2% against the industry’s decline of 5.1%.
Image Source: Zacks Investment Research
Interactive Brokers currently carries a Zacks Rank #2 (Buy). 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, will report their monthly performance metrics later this month.
At present, Schwab carries a Zacks Rank #4 (Sell) and LPL Financial has a Zacks Rank #3 (Hold).
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