Interactive Brokers Group posted impressive trading metrics in September, highlighting a substantial boost in client engagement and financial performance. The company's monthly report highlights notable increases in Daily Average Revenue Trades (DARTs) and client equity.
Strong Trading Metrics
Interactive Brokers recorded 2.634 million DARTs, a remarkable 46% increase compared to the previous year, though slightly down 3% from August. Client equity reached an impressive $541.5 billion, marking a 46% year-over-year increase and a 5% rise since August.
According to the platform, the performance reflects its ability to attract and retain a diverse clientele. The platform now has 3.12 million accounts, up 28% from the previous year.
The brokerage firm reported ending client margin loan balances of $55.8 billion, reflecting a 28% increase compared to last year and a 2% rise since the previous month. Moreover, client credit balances totaled $116.7 billion, including $4.6 billion in insured bank deposit sweeps, indicating a 19% increase year over year and a 4% increase month over month.
Regarding trading costs, the average commission per cleared order was $2.88, with stocks averaging $2.04 per order, equity options at $3.92, and futures at $4.34. Notably, the total cost for executing U.S. Reg.-NMS stocks through Interactive Brokers was approximately 4.3 basis points of trade money, emphasizing the firm's commitment to transparent and cost-effective trading solutions.
Cost of Trading
The value of Interactive Brokers' GLOBAL, a measure reflecting its currency diversification strategy, increased by 0.24% in September and 1.14% for the quarter, indicating stability amidst fluctuating global markets. The firm's strategic approach to diversifying its net worth across major currencies further strengthened its financial positioning.
In August, Interactive Brokers enhanced its global bond offering through the IBKR Bond Marketplace. This feature seeks to expand client access to liquidity for global corporate bonds, European Government Bonds, and UK Gilts.
According to the company, clients can trade these instruments for up to 22 hours a day. Besides that, Swiss Franc-denominated bonds, including Swiss government bonds and global corporate bonds denominated in CHF, are accessible on the IBKR platform.
Elsewhere, Interactive Brokers integrated Bursa Malaysia’s listed derivatives to allow users to trade Crude Palm Oil Futures and FTSE Bursa Malaysia KLCI Futures. The integration allows traders to engage in these key Association of Southeast Asian Nations markets.
