Interactive Brokers Group, Inc.’s IBKR Electronic Brokerage segment reported overall improvement on a year-over-year basis in its brokerage metrics for Apr 2015. The segment deals with clearance and settling of trades for both individual and institutional clients on a global basis.
Total customer Daily Average Revenue Trades (DARTs) were 630,000, increasing 9% from Apr 2014 and declining 1% from Mar 2015. Further, total customer accounts were 302,000, up 18% from the prior-year month and 2% from the preceding month.
Interactive Brokers recorded Cleared Customer DARTs of 581,000, increasing 11% from Apr 2014 and increasing slightly from Mar 2015. However, on an annualized basis, Cleared Average DARTs per customer account of 488,000 decreased 6% from the comparable prior-year period, and 2% from the prior-month level.
Interactive Brokers’ total option contracts came in at 23.3 million, down 1% from the year-ago month but up 1% from the prior-month level. Future contracts grew 2% from Apr 2014 while it declined 9% from Mar 2015 to 9.4 million.
Interactive Brokers also provides data related to period-end statistics for customer equity, credit balances and margin loan balances. For the period ended Apr 2015, customer equity was $65.2 billion, rising 32% year over year and 7% from the prior-month level.
Further, Interactive Brokers recorded customer credit balances of $33.6 billion in the reported month, up 24% from Apr 2014 and 6% from Mar 2015. Also, the company’s customer margin loan balance of $18.7 billion rose 27% from the prior-year month and 8% from the preceding month.
We expect Interactive Brokers to continue experiencing improvement in the monthly metrics, as the company remains well poised to gain from the volatility of the equity market. Further, if such a market scenario prevails, strong trading activities are expected to accelerate top-line growth.
Currently, Interactive Brokers carries a Zacks Rank #3 (Hold). Some better-ranked investment brokers include Arlington Asset Investment Corp. AI, Investment Technology Group Inc. ITG and JMP Group LLC JMP. All three stocks sport a Zacks Rank #1 (Strong Buy).
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