Interactive Brokers Group, Inc. (Nasdaq: IBKR) has released its Electronic Brokerage monthly performance metrics for January, showcasing robust growth and steady financial indicators.
Client Margin Loan Balances Remain Steady as Client Credit Balances Rise
The firm reported 2.201 million Daily Average Revenue Trades (DARTs), marking an impressive increase of 11% compared to the previous year and a substantial upsurge of 12% over the prior month. Additionally, the company recorded ending client equity totaling $424.0 billion, reflecting a notable escalation of 26% from the previous year and maintaining stability compared to the prior month.
Ending client margin loan balances stood at $44.3 billion, exhibiting a solid improvement of 12% from the prior year and remaining steady compared to the preceding month. Moreover, client credit balances, inclusive of $3.8 billion in insured bank deposit sweeps, reached $102.5 billion. This reflects an uptick of 3% from the previous year, albeit experiencing a slight dip of 2% compared to the prior month.
The company reported a substantial growth in client accounts, totaling 2.63 million, marking a notable elevation of 23% from the previous year and a modest rise of 2% from the preceding month. On average, clients executed 190 annualized average cleared DARTs per account.
The average commission per cleared Commissionable Order amounted to $3.03, which includes exchange, clearing, and regulatory fees. Notably, for futures, which include options on futures, the estimated exchange, clearing, and regulatory fees comprise 56% of the futures commissions.
Interactive Brokers' Revenue and Income Surge in Q4
Earlier, Finance Magnates reported that Interactive Brokers' financial report for Q4 2023 demonstrated impressive growth in key areas. The company's net revenue surged to $1.139 billion, showing a substantial increase compared to the previous year. Moreover, income before tax witnessed a remarkable rise to $816 million, reflecting a strong financial performance.
Notably, commission revenue experienced a commendable uptick of 5%, reaching $348 million. The company also saw significant growth in net interest income, which soared 29% to $730 million. These positive indicators underscore Interactive Brokers' continued success and financial stability in the brokerage industry.
