Interactive Brokers Group, Inc. has released its December 2023 metrics, showcasing robust growth in key areas. The data reveals a sustained uptick in daily average revenue trades (DARTs) and an increase in new accounts.
DARTs, representing revenue-generating trades on the platform, reached 1.972 million, marking a 13% YoY increase and a 4% rise from November. The ending client equity rose to $426 billion, reflecting a remarkable annual surge of 39% and a monthly increase of 5%. Client margin loan balances reached $44.4 billion, up 14% from the previous December, while client credit balances rose 10% to $104.5 billion.
The brokerage added 23% more clients YoY, ending December with 2.56 million accounts, translating to 172 annualized average DARTs per client account. Compared to November 2023, the total number of accounts increased by 2%.
Interactive Brokers maintained competitive commissions in December, with cleared commissionable orders averaging $3.17, including fees. Average costs per order were $2.02 for stocks, $4.36 for equity options, and $4.86 for futures.
Interactive Brokers Reports Strong December Metrics- Investment Opportunities?
On financial metrics, the company reported a quarterly loss of $0.3 million but a yearly gain of $8.4 million in its US government securities portfolio. The Global currency benchmark showed gains of 0.47% for December and 0.41% for the entire year.
Calculating the total cost for IBKR PRO clients executing and clearing US Reg NMS stocks, the firm reported approximately 2.4 basis points of trade money in December, averaging 2.5 over the past 12 months.
The positive monthly metrics highlight Interactive Brokers’ growth trajectory entering 2024, driven by its automated global electronic brokerage model and competitive pricing.
In a separate announcement, Interactive Brokers appointed Rich Repetto, a veteran analyst with a 25-year career, as an independent director. Repetto, who retired last June as Managing Director and Senior Research Analyst at Piper Sandler, is renowned for his expertise in electronic trading and financial technology.
Thomas Peterffy, Founder and Chairman at Interactive Brokers, expressed delight in welcoming Repetto to the board, emphasizing his valuable industry knowledge. Before joining Piper Sandler, Repetto spent two decades at Sandler O’Neill, worked for Lehman Brothers, and had a decade-long tenure in sales and marketing at Mobil.
Interactive Brokers Hong Kong has secured a license for retail crypto trading, marking a significant stride in the region’s cryptocurrency sector. This positions the firm as a key player in Hong Kong’s evolving crypto landscape amid increased activities and interest.
Simultaneously, Interactive Brokers has introduced a new offer for UK investors, encouraging residents to open stocks and share investment savings accounts (ISAs). The ISAs provide access to diverse investment options, including stocks, bonds, and exchange-traded funds, both domestically and internationally. The recent developments underscore Interactive Brokers’ commitment to innovation, global expansion, and providing diverse investment opportunities for its clients.
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