Interactive Brokers 40% YoY Increase in DARTs for August 2024

Interactive Brokers reports a 40% YoY increase in August 2024 DARTs to 2.712M. Client equity is $515.3B, and client accounts are up 29% YoY.

Key Points:

• Interactive Brokers reported a 40% year-on-year increase in Daily Average Revenue Trades (DARTs) for August 2024, reaching 2.712 million.
• The company’s client equity climbed to $515.3 billion, up 36% from the previous year, and client accounts grew by 29% to 3.06 million.

Interactive Brokers Group, Inc. (NASDAQ) has announced robust trading metrics for August 2024, showcasing significant growth in Daily Average Revenue Trades (DARTs). The broker recorded 2.712 million DARTs for the month, marking a substantial 40% increase compared to August 2023. However, this figure represents a 2% decrease from the 2.764 million DARTs reported in July 2024.

Interactive Brokers 40% YoY Increase in DARTs for August 2024

Client equity reached $515.3 billion at the end of August, reflecting a 36% year-on-year rise and a slight 1% increase from the previous month. Additionally, Interactive Brokers saw its client accounts climb to 3.06 million, up 29% from last year and 2% from July 2024.

The average commission per cleared Commissionable Order was $2.80, including exchange, clearing, and regulatory fees.

In its financial results for the second quarter of 2024, Interactive Brokers reported net revenues of $1,230 million, with an adjusted figure of $1,290 million. This compares to $1,000 million and $1,064 million in the same quarter of the previous year. The company’s income before income taxes was $880 million, or $940 million on an adjusted basis.

Commission revenue saw a notable increase of 26% to $406 million, driven by higher customer trading volumes. The trading volume for options, stocks, and futures surged by 35%, 26%, and 10%, respectively. Net interest income also rose 14% to $792 million, bolstered by higher benchmark interest rates, customer margin loans, and credit balances. Other fees and services grew by $21 million, or 45%, to $68 million, mainly due to increased risk exposure fees and payments for order flow from exchange-mandated programs and FDIC sweep program fees.

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