Interactive Brokers Group, Inc. (Nasdaq: IBKR), an automated global electronic broker, has released its monthly performance metrics for December 2023, showing continued growth across key areas, including daily average revenue trades (DARTs) and a number of new accounts.

Interactive Brokers Reports Strong Growth in December 2023 Metrics

DARTs, which refers to the number of revenue-generating trades placed by customers on Interactive Brokers' platform, reached 1.972 million, up 13% year-over-year (YoY) and 4% over November. Ending client equity hit $426 billion, an annual increase of 39% and a monthly increase of 5%. Client margin loan balances grew 14% versus last December to $44.4 billion, while client credit balances rose 10% to $104.5 billion.

The brokerage also added clients, ending December with 2.56 million accounts, which was 23% more YoY. This translated into 172 annualized average DARTs per client account. Compared to November 2023, the number of total accounts rose 2%.

Interactive Brokers continued to offer competitive commissions in December, with cleared commissionable orders costing $3.17 on average, including fees. This averaged $2.02 per order for stocks, while equity options stood at $4.36 per contract and futures at $4.86.

Other Financial Information Also Positive

On other financial metrics, the company saw a quarterly loss of $0.3 million but an annual gain of $8.4 million of its US government securities portfolio. The Global currency benchmark gained 0.47% for December and 0.41% for the full year.

Interactive Brokers has calculated the total cost for its IBKR PRO clients when executing and clearing US Reg NMS stocks on its platform. In December, this amounted to approximately 2.4 basis points of trade money, and over the past 12 months, it averaged 2.5 basis points.

The positive monthly metrics showcase Interactive Brokers' growth trajectory headed into 2024, building on its automated global electronic brokerage model and ability to offer competitive pricing to clients.

Veteran Analyst Repetto Joins Interactive Brokers Board

In a separate update, IBKR has appointed veteran analyst Rich Repetto as an independent director. Repetto retired last June after a career of 25 years as a Managing Director and Senior Research Analyst at Piper Sandler. During his tenure, he specialized in electronic trading and financial technology firms and received numerous accolades, including the “Analyst of the Year” award from the Financial Times in 2010.

“We are pleased to welcome Rich to our board following his distinguished career pioneering research on electronic brokers and exchanges,” said Thomas Peterffy, the Founder and Chairman at Interactive Brokers. “His deep knowledge and understanding of our industry brings an important perspective that we expect will benefit our company.”

Before joining Piper Sandler, Repetto spent around 20 years as a principal at Sandler O'Neill. He has further worked for Lehman Brothers, where he founded coverage of the online financial services sector, and spent a decade in sales and marketing roles at Mobil.

Updates in Hong Kong and The UK

Interactive Brokers Hong Kong recently obtained a license for retail crypto trading in Hong Kong, marking a significant expansion in the region's cryptocurrency sector. This development positions the firm as a pivotal player in the rapidly evolving crypto landscape of Hong Kong, a region experiencing a notable surge in crypto-related activities and interest.

In a parallel development, Interactive Brokers has launched a new offer for investors in the UK. The brokerage firm is encouraging UK residents to open stocks and share investment savings accounts (ISAs) with them. ISAs in the UK provide access to diverse investment options, including stocks, bonds, and exchange -traded funds, both domestically and internationally.