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Interactive Brokers sees daily average revenue trades jump 16%



US-listed brokerage Interactive Brokers (NASDAQ: IBKR) has reported its metrics and other financial information for September, showing a 16% jump in Daily Average Revenue Trades (DARTs) from the previous year.

There were 2.26 million Daily Average Revenue Trades (DARTs) in the month, representing a 4% rise from August. Additionally, there were 334 annualised average cleared DARTs per account.

In August, the broker, which trades on the Nasdaq, reported 2.17 million DARTs, a 24% increase from 2020 and an 8% decrease from July. Annualised average cleared DARTs per client account in August was 329.

Interactive Brokers

Ending client equity for September was $353.8 billion, 52% higher than the same period in 2020, but down 3% compared to August. Interactive Brokers also reported ending client margin loan balances of $50.2 billion, a significant 67% increase on the year prior and a 1% rise on the month before.

In a statement, Interactive brokers said that there were:

…ending client credit balances of $86.2 billion, including $2.7 billion in insured bank deposit sweeps, 22% higher than prior year and 2% higher than prior month.

As predicted due to the recent surge in online trading, client accounts have increased 57% from September 2020 to 1.54 million, a 3% rise from last month.

The average commission per cleared commissionable order came in at $2.58, which includes clearing, regulatory, and exchange fees. Looking more closely at this figure, Interactive Brokers reported that the average commission per cleared commissionable order for stocks was $1.82, for equity options it was $3.70, and for futures it was $4.25.

The stock trades average order size was 2,565 shares. Equity options had an average order size of 6.6 contracts, whereas for futures, the average order size was 3 contracts. 

Last week it was revealed that Interactive Brokers had been ordered by the US Commodity Futures Trading Commission (CFTC) to pay a civil monetary penalty of $1.75 million and restitution of $82.57 million to its customers for failing to manage the handling of its customer accounts.

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Interactive Brokers sees daily average revenue trades jump 16%

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