Interactive Brokers (Nasdaq: IBKR), a popular American electronic trading platform with a global presence, published its performance metrics for August. The Daily Average Revenue Trades (DARTs) came in at 1.968 million, which was 8 percent higher than the previous month, but 9 percent lower than the prior year.
The broker ended the month with client equity of $310.1 billion, which was 1 percent lower than the previous month but declined 15 percent from the previous year. The client margin loan balance strengthened by 2 percent monthly to $43.1 billion, which was 13 percent lower.
The client's credit balance, at the end of August, stood at $95.9 billion, which was 2 percent higher than in July and 13 percent greater than in August 2021. The figure includes $2.1 billion in insured bank deposit sweeps.
Additionally, the broker witnessed a healthy increase in clients on its platform. It ended the month with 1.99 million client accounts, which is a 2 percent monthly jump and 33 percent higher than the same month of the previous year.
On average, it cleared 222 annualized DARTs per client. The average commission of the broker per cleared commissionable order was $2.87, including exchange, clearing and regulatory fees.
2022 Performance
Interactive Brokers reported a drop in its revenue for both the first and second quarters of 2022. Between January and March, it generated net revenue of $645 million, while in the next three months the net revenue came in at $656 million. The decline in the first and second quarters was 28 percent and 13 percent, respectively.
The broker’s pre-tax income came in at $394 million for Q1 and $392 million for Q2. Both figures declined when compared to the similar quarter of the previous year.
