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Interactive Brokers April DARTs Up Y/Y on Coronavirus Mayhem

Interactive Brokers Group IBKR released the Electronic Brokerage segment’s performance metrics for April 2020. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a substantial surge in Daily Average Revenue Trades (DARTs) on a year-over-year basis. This was attributed to a rise in trading activities owing to concerns over coronavirus.

Total client DARTs were 1,720,000, surging 121% from April 2019 but declining 12% from March 2020. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 498,000. This reflects a jump of 80% year over year but 17% sequential decline.

Total customer accounts jumped 28% from the prior-year month and 6% from the prior month to 805,600. Also, net new accounts were 46,000, increasing 461% from April 2019 and 15% from March 2020.

Interactive Brokers’ total options contracts were 43.6 million, rising 60% from April 2019 but decreasing 10% year over year. Futures contracts grew 74% on a year-over-year basis but declined 33% from the year-ago month to 14.5 million.

At the end of April, client equity was $179.8 billion, up 19% year over year and 12% sequentially. Also, Interactive Brokers recorded client credit balance of $69.3 billion, up 30% from April 2019 and 7% on a sequential basis. The company’s customer margin loan balance of $20.6 billion declined 23% from April 2019 but increased 4% from the prior month.

Shares of Interactive Brokers have lost 12.9% so far this year compared with 22.8% fall of the industry it belongs to.



The stock currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other discount brokers, LPL Financial Holdings Inc. LPLA, Charles Schwab SCHW and E*TRADE Financial ETFC are likely to report monthly performance metrics in the coming days.

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Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report
 
E*TRADE Financial Corporation (ETFC) : Free Stock Analysis Report
 
The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report
 
LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report
 
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