Online trading brokerage Interactive Brokers reported its operating metrics for August on Thursday.
The major broker reported Daily Average Revenue Trades came in at 1.968 million during the month, up 8% month-over-month but down 9% compared to the same period last year.
Ending client equity came in at $310.1 billion, 15% below the prior year and 1% softer than the prior month. In addition, ending client margin loan balances were $43.1 billion, a 13% decrease compared to the previous year and 2% above the preceding month.
Furthermore, Interactive Brokers had 1.99 million client accounts, representing a 33% increase from last year and a 2% rise from last month, while the average commission per cleared commissionable order was $2.87, including exchange, regulatory, and clearing fees.
The average commission per cleared commissionable order for stocks was $1.98, equity options were $4.23, and futures was $3.81. Meanwhile, the average order size for stocks was 1,161 shares, equity options were 6.8 contracts, and futures were 3 contracts.
Interactive Brokers reported earnings for the second quarter on July 19, reporting adjusted earnings per share of $0.84 on revenue of $717 million. The company missed earnings estimates of $0.91 per share and revenue expectations of $737.18 million.
During the quarter, commission revenue rose 5% to $322 million due to higher customer options and futures trading volume. In addition, net interest income grew 27% to $348 million due to higher benchmark interest rates and customer balances. However, this was “partially offset by a decline in securities lending activity.”
