Interactive Brokers Volumes and Net Deposits Spike in August YoY

Interactive Brokers (IB), a listed discount brokerage has reported trading metrics for August 2013. The thirty-six year old company that was founded by Thomas Peterffy, recorded strong gains in, customer deposits, the number of client trading accounts and average daily trading volume. The average daily trades jumped 32% and total client equity was shy of $40 billion, a 31% increase from figures reported a year earlier.

The firm continues its upbeat performance after posting half yearly gains last month, the broker saw second-quarter earnings increase 29%, this was primarily driven by increased trading activity on the back market volatility.

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The firm saw net revenue increased by 8.8% to $283.9 million, additionally, IB saw its commissions and fees rise by 28%.

Trading metrics for August

• 471 thousand Daily Average Revenue Trades (DARTs), 32% higher than prior year and 1% higher than prior month.

• Ending customer equity of $39.7 billion, 31% higher than prior year and 1% higher than prior month.

• Ending customer margin loan balances of $11.9 billion, 35% higher than prior year and 3% higher than prior month.

• Ending customer credit balances of $23.8 billion, 23% higher than prior year and 1% higher than prior month.

• 229 thousand customer accounts, 12% higher than prior year and 1% higher than prior month.

• 468 annualized average cleared DARTs per customer account.

• Average commission per cleared futures* customer order of $6.32 including exchange and regulatory fees, which we estimate to be approximately 60% of this total.

The NASDAQ listed firms share price was in the green, trading at $16.99, the share price has seen a 24% spike since the start of 2013.