Interactive Brokers has released its monthly performance metrics for March 2024, highlighting mixed performance. The global electronic brokerage firm reported 2.412 million daily average revenue trades (DARTs), representing an increase of 17% and a decline of 1% from the previous month.

The company's report highlighted a significant increase in client equity, margin loan balances, and client credit balances. Ending client equity stood at $465.9 billion, marking a substantial growth of 36% from the prior year and a boost of 4% from the previous month.

Client Assets and Accounts

Similarly, client margin loan balances experienced a notable expansion of 30% year-on-year, reaching $51.2 billion. This marked an uptick of 8% from the prior month. Additionally, ending client credit balances, including insured bank deposit sweeps, totaled $104.9 billion. This figure reflects a rise of 9% from the prior year and an uptick of 2% from the previous month.

Besides that, Interactive Brokers reported a significant growth in client accounts, with a total of 2.75 million accounts recorded in March. This represents a notable upsurge of 25% from the prior year and a decline of 2% from the previous month.

The brokerage firm's report provides insights into the average commission per cleared commissionable order across key products. Notably, the average commission per cleared order for stocks was $1.87, while equity options and futures reported $4.02 and $4.62, respectively. The latest report highlighted an annualized average cleared DARTs per client account of 199.

Trading Activity

In addition to brokerage metrics, Interactive Brokers' update included other financial information, such as mark-to-market on the US government securities portfolio, which recorded a loss of $900,000 for the quarter ended March 31. Moreover, the report provided insights into the performance of the GLOBAL, which recorded a slight decrease of 0.09% and a drop of 0.73% for the quarter ended March 31.

Interactive Brokers indicated that the average US Reg-NMS stock trade was $22,335, with the client's total cost of executing and clearing US Reg-NMS stocks estimated at about 4.3 basis points.

Interactive Brokers provides automated trade execution and custody services across multiple markets and asset classes. The company aims to enable clients to access tools and resources to effectively manage their investment portfolios.