Interactive Brokers has reported MoM growth in daily average revenue trading (DART) by 5% and client accounts by 2% in May 2023.
American multinational brokerage firm, Interactive Brokers has reported single-digit month-over-month (MoM) growth in its daily average revenue trades (DARTs) and client accounts in May 2023.
The New York-based company revealed those reports on Thursday in its broker metrics from May 2023. In their reports, DARTs grew by 5% to 1.86 million, while the platform's client accounts rose by 2% to 2.26 million.
Compared to the same period last year (YoY), The broker's DARTs fell 19% while client accounts jumped by the same measure.
Shifting to other metrics, final client equity, or the amount of money clients had in their trading accounts at the end of the month, it rose 1% MoM to USD345.1 billion and increased 10% (YoY).
The report also revealed that the amount of money owed to brokers by clients from leveraged trading rose 1% to $39.5 billion. But, end-client margin loan balances slumped 10% year-on-year.
Contrary to that growth, the end-client credit balance fell 1% to $98.7 billion in May, down from $99.2 billion in April. However, it was 8% higher than the previous year's balance.
The company generated an average commission of $3.08 per cleared order in May. This is a 3% decrease from the previous month. These numbers include exchange, clearing, and regulatory fees.
Here is a breakdown of the commissions generated by the companies across classes:
- Stocks: $1.95 per 1,013 shares
- Equity options: $4.43 per 6.6 contracts
- Futures: $4.36 per 3.3 contracts
"Futures include options on futures," said the reports. "We estimate exchange, clearing, and regulatory fees to be 57% of the futures commissions."
Overall, Interactive Brokers grew in May, but not as much as in March. They also saw a decrease in average commission per cleared order.