Interactive Brokers Reports Y/Y Increase in September Client DARTs

Interactive Brokers Group, Inc. IBKR has released the Electronic Brokerage segment's performance metrics for September 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).

IBKR's September Performance Breakdown

Total client DARTs in September were 2,634,000, which increased 46.5% from September 2023 but fell 2.9% from the last month.

On an annualized basis, the Cleared Average DARTs per customer account was 190 for September 2024. The metric increased 13.1% on a year-over-year basis but declined 4% from August 2024.

IBKR's total customer accounts rose 28.3% year over year and 1.9% from the last month to 3.1 million. Net new accounts were 58,200, witnessing a decline of 6.9% year over year and 12.7% sequentially.

Interactive Brokers' total options contracts were 100 million in September 2024, up 32.5% year over year but down 10.5% sequentially. Future contracts declined marginally year over year and 15.5% from August to 17 million.

At the end of September 2024, client equity was $541.5 billion, which grew 46.4% year over year and 5.1% from the last month. IBKR recorded client credit balances of $116.7 billion, up 19.1% from September 2023 and 5.1% from the August 2024 level. The company's customer margin loan balance of $55.8 billion increased 28% from the year-ago month and 1.6% from the last month.

IBKR's Zacks Rank & Price Performance

Year to date, shares of Interactive Brokers have surged 66.8%, outperforming the industry's growth of 17.7%.

Image Source: Zacks Investment Research

Currently, IBKR has a Zacks Rank #3 (Hold).

Two other brokerage firms, The Charles Schwab Corporation SCHW and LPL Financial Holdings Inc. LPLA, will come out with their monthly performances in the coming days.

The Zacks Consensus Estimate for SCHW 2024 earnings per share has moved marginally downward over the past 60 days while the metric has moved marginally upward for LPLA in the past month.

At present, SCHW & LPLA carry a Zacks Rank #3 each.

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