Interactive Brokers, a global electronic broker that is listed on Nasdaq as IBKR, has published its numbers for December 2023. DARTs are pretty impressive, and so are other metrics. This includes the number of client accounts. Also, Interactive Brokers has appointed Rich Repetto to its Board of Directors.
Trading Activity
DARTs, short for daily average revenue trades, point to the number of trades that have yielded revenue to customers. The number of DARTs Interactive Brokers was up by 13% year-on-year to touch the milestone of 1.972 million. It further reflects an increase of 4% in comparison to November.
An increase in DART for Interactive Brokers shows the pace at which it is growing and how much customers trust the platform. Estimates are that DART will continue to grow in January 2024 as well.
Client Equity
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Client equity has gone up by 39% annually and 5% when compared to the previous month. The number is $426 billion. It complements the competitive commission it has offered to customers. The commission by Interactive Brokers averages $3.17, including fees. The number of stocks is an average of $2.02, and the number of equity options is $4.36 for every contract.
Client Margin Loan Balances
There was a visible growth in client margin loan balances in December 2023. The report cites that the figure went up by 14% against December 2022. The number now stands at $44.4 billion.
There was also a loss assessed worth $0.3 million for a quarter; however, the annual gain has come to $8.4 million. It again strikes a balance in favor of Interactive Brokers. Moreover, monthly metrics show a positive trajectory for the company in 2024 due to its electronic brokerage model and competitive pricing.
Client Credit Balances and Client Accounts
Client credit balances rose by 10%, now standing at $104.5 billion. There was an addition in terms of clients added to the platform. December welcomed 2.56 million accounts, for a surge of 23% on a YoY basis. When compared to DART, there was a showcase of 172 annualized average DARTs for every client account.
More updates per the Interactive Brokers report mention that the company is now licensed to operate retail crypto trading in Hong Kong. This has made Interactive Brokers a key player in Hong Kong’s crypto sphere segment. To read the unbiased review of Interactive Broker click here.
Conclusion
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DARTs are up for Interactive Brokers, making it an ideal company to keep growing in 2024. The automated global electronic broker is poised to add more clients, considering it is now licensed for retail crypto trading in Hong Kong. Moving forward, it will focus on how the firm ventures across the prevailing market conditions now that they have appointed Rich Repetto as an independent director. Interactive Brokers has welcomed him on board and said it expects progress with his presence.
