Interactive Brokers Records Strong Market Activity With 17% March DARTs Surge
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Interactive Brokers has presented its monthly performance results for March 2024, indicating performance differences. The brokerage company revealed 2.412 million daily average revenue trades (DARTs), signifying an upsurge of 17% and a drop of 1% from the preceding month.
The firm’s report showcased a notable increase in client credit balances, margin loan balances, and client equity. Closing client equity amounted to $465.9 billion, indicating a significant increase of 36% from the previous year and a growth of 4% from the prior year.
Client Margin Loan Balances Grew By 30% Year-On-Year, Totalling $51.2 Billion
Additionally, client margin loan balances witnessed a significant growth of 30% year-on-year, totaling $51.2 billion. This showed a rise of 8% from the previous month. Also, ending client credit balances such as Insured cash sweeps, amounted to $104.9 billion. This number mirrors an uptick of 9% from the preceding year and a rise of 2% from the prior month.
In addition to that, Interactive Brokers announced a notable increase in customer accounts, totaling 2.75 million accounts registered in March. This indicates a significant surge of 25% from the previous year and a decrease of 2% from the preceding month.
The brokerage company’s report provides information on the average cost for each processed commissionable order across major products. Remarkably, the average charge for each processed order for shares was $1.87, while futures and equity options reported $4.62, and $4.02 respectively. The most recent report showcased an annual average cleared DARTs for each customer account of 199.
Apart from brokerage analytics, Interactive Brokers’ announcement contains other financial details like market value adjustment on the United States government securities portfolio. This recorded a $900,000 loss for the quarter ended March 31.
Interactive Brokers revealed that the average United States Reg-NMS share trade was $22,335, with the customer’s total cost of clearing and executing US Reg-NMS shares estimated at around 4.3 basis points.
Interactive Brokers Offers Custody Services And Automatic Trade Execution
The company offers custody services and automatic trade execution across various asset classes and markets. The firm wants to allow customers to access resources and tools to effectively control their investment holdings.
Interactive Brokers is an international brokerage company in America. It oversees the biggest online trading platform in the US by day-to-day average revenue trades. The firm deals in some cryptocurrencies, funds, bonds, forex, futures options, EFPs, futures, options, and stocks.
Its headquarters is located in Greenwich, Connecticut, and has branches in four towns. The firm provides non-disclosed, omnibus, and fully disclosed brokerage accounts. Interactive Brokers also offers correspondent clearing solutions for 200 introducing brokers globally, as of 2014.
