Interactive Brokers Group, Inc. (Nasdaq: IBKR) reported its October metrics for electronic brokerage activity, revealing growth in key areas compared to last year and the previous month.
Global Trade Execution Provided
The firm recorded Daily Average Revenue Trades (DARTs) at 2.82 million, a 46% increase from the same period last year and a 7% rise month-over-month. Client equity reached $540 billion, showing a 47% upsurge from the previous year.
Affiliates of Interactive Brokers Group offer automated trade execution and custody services for securities, commodities, and foreign exchange across more than 150 markets globally. These services operate continuously in various countries and currencies through a unified platform accessible to clients worldwide.
“We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios,” the firm states.
Margin Loan Balances Surge
Margin loan balances were reported at $58.9 billion, marking a 40% rise year-over-year and a 6% rise compared to the prior month. Client credit balances grew modestly to $117.6 billion, up 2% from last year. The number of client accounts also rose, reaching 3.19 million, a 28% year-over-year growth. These metrics indicate growth in trading volume and client asset levels.
“We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments,” the company adds.
Meanwhile, Saxo Bank, a trading platform based in Denmark, is currently the focus of potential acquisition discussions, with significant interest from various investors. Among them, Interactive Brokers Group is reportedly evaluating the opportunity to acquire the bank, as reported by Finance Magnates.
Alongside Interactive Brokers, investors like Altor Equity Partners and Centerbridge Partners have submitted preliminary bids. Despite the rising interest, Saxo Bank has not yet committed to any deal, leaving the door open for further developments in these acquisition talks.
