Interactive Brokers Reports Mixed Metrics for July, DARTs Down MoM

Photo: Bloomberg

Interactive Brokers LLC (NASDAQ:IBKR) has just disclosed its consolidated trading volumes for the month ending July 31, 2018, which showed mixed results across both monthly and yearly intervals.

During July 2018, the number of DARTs were reported at 748,000, a fall of 6 percent month-over-month from ‎799,000‎ in June 2018. On a year-on-year basis, Interactive Brokers saw a better performance in its DARTs with July’s figure jumping approximately 8 percent relative to 694,000 reported in July 2017.

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In terms of equity balance in customers’ accounts during July 2018, the figure totaled $138.2 billion, an increase of 26.0 percent year-on-year from $109.8 billion. In addition, Interactive Brokers managed to best its June 2018 equivalent, having notched a gain of 3 percent from ‎$134.7 billion in the prior month.

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Interactive Brokers’ ending client margin loan balances came in at $28.2 billion in July 2018, down 2 percent from ‎$28.8 billion in June 2018. Across a yearly interval, the figure moved higher by 19.0 percent when weighed against ‎$23.7 billion in July 2017.

Business highlights, according to the company’s press release, also showed that a total of 555,400 customer accounts were active at IB during July 2018. The figure was higher by 2.0 percent month-on-month when compared to June 2018 (‎542,000 ‎accounts), and 27.0 percent higher from 436,000 accounts a year ago.

On average, in July 2018 Interactive Brokers charged clients commission fees of $3.76 per order, including exchange, clearing and regulatory fees, with the key products metrics coming out at $2.30 for stocks, $5.18 for equity options and $6.29 for futures orders.

Earlier in July, Interactive Brokers reported strong revenue and income for the second quarter, with both seeing double-digit year-on-year gains. Net revenues were $445 million, an increase of 13 percent from the same period in 2017. In the second quarter of 2018 income before income taxes was up almost 25 percent to $271 million, compared to 2017 which was $204 million.