Interactive Brokers, an American online brokerage firm, published its brokerage metric for March 2023 on Monday, reporting a marginal decrease of 3% month-over-month (MoM) in its Daily Average Revenue Trades (DARTs) which reached 2.055 million. However, compared to the same period in 2022, the DARTs slid significantly, dropping 16%.

Interactive Broker's Client Accounts Reaches 2.20M

On the contrary, the broker reported a 2% MoM increase in its client accounts in March. The accounts grew by a much higher 21% when compared to the same period in 2022, reaching 2.20 million last month. In February, the numbers grew marginally to 2.16 million.

Last month, Interactive Broker’s client equity and margin loan balances followed the same pattern: On the one hand, client equity increased marginally by 3% from the prior month, reaching $343.1 billion, but slumped 4% year-over-year (YoY); on the other hand, client margin loan balances rose 1% from the prior month but dropped 18% YoY.

Furthermore, the broker’s client credit balances decreased marginally by 1% to $96.6 billion in March but increased 4% YoY. These balances include $2.4 billion in insured bank deposit sweeps, the report said.

More Details on March Performance

Providing more details on its March performance, Interactive Brokers disclosed that its annualized average cleared DARTS per client account came in at 213 last month. On top of that, the average commission per cleared commissionable order was $3.21, which is also a marginal increase from $3.12 from the prior month. This figure includes exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term, clearing Clearing Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Clearing is a general term that simply means many different things depending on the subject and related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of the differences, or the total of claims settled at a clearinghouse. In finance and banking, the word clearing has different meanings depending on the more specific business model. Moving checks from the bank where they were deposited to the bank on which they were drawn. Th Read this Term and regulatory fees.

Furthermore, Interactive Brokers said the average order size of stocks on its platform in March was 1,148 shares with $2.11 in average commission per cleared commissionable order. For equity options, the former is 7.2 contracts and the latter $4.64. In addition, for futures, the former came in at 3.2 contracts and the latter stood at $4.21.

Meanwhile, in early March, the Australian Securities and Exchange commission issued two interim stop orders against Interactive Broker's subsidiary in the country. The 21-day suspension temporarily prevented the broker from issuing Stock Yield Enhancement Programme (SYEP) derivatives to its retail investors.

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