Popular U.S. electronic trading platform Interactive Brokers reported mid-single-digit month-over-month (MoM) growth in its Daily Average Revenue (DART) trading and client accounts in May. While DARTs increased 5% to 1.86 million, the platform’s customer accounts increased 2% to 2.26 million.
However, compared to the same period last year, DARTs were down 19%, while accounts receivable jumped by the same amount. Interactive Brokers revealed the figures Thursday in its brokerage measures for May 2023.
Despite April’s DART growth of 1.765 million, Interactive Broker’s performance last month fell short of the 2.055 million transactions per day that generated revenue through commissions or fees earlier in March.
In terms of other metrics, end-customer equity, or the amount of money customers had in their trading accounts at the end of the month, grew 1% per month to $345.1 billion. and increased by 10% compared to the same period last year.
Additionally, the amount of money owed to brokerage by clients for leveraged trades also increased slightly by 1% to $39.5 billion. However, the end customer’s margin loan balance fell 10% year over year.
Unlike the client’s ending equity and margin loan balance, Interactive Broker’s clients’ ending credit balances, or the amount of money clients leave in their trading account after all trades have been settled and all fees and expenses deducted, fell 1% to $98.7 billion, down from $99.2 billion the previous month. However, the figure, which includes $2.9 billion in insured bank deposits, represents an 8% gain from balances in the same period a year earlier.
Additionally, Interactive Broker generated an average commission of $3.08 per cleared commissionable order last month, down 3% from the previous month. The figure includes exchange
Exchange
A stock exchange is known as a market that supports the trading of derivatives, commodities, securities, and other financial instruments. Typically, a stock exchange is accessible through a digital platform or sometimes at a tangible address where investors arrange to transact. One of the primary responsibilities of an exchange would be to maintain honest and fair trading practices. These are essential to ensure that the distribution of supported security rates on this exchange is effective.
A stock exchange is known as a market that supports the trading of derivatives, commodities, securities, and other financial instruments. Typically, a stock exchange is accessible through a digital platform or sometimes at a tangible address where investors arrange to transact. One of the primary responsibilities of an exchange would be to maintain honest and fair trading practices. These are essential to ensure that the distribution of supported security rates on this exchange is effective.
Read this term, clearing
Clearing
Compensation is a general term that simply means many different things depending on the topic and the related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of differences, or the total of claims settled in a clearing house. In finance and banking, the word compensation has different meanings depending on the most specific business model. Moving checks from the bank where they were deposited to the bank they were drawn on. E
Compensation is a general term that simply means many different things depending on the topic and the related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of differences, or the total of claims settled in a clearing house. In finance and banking, the word compensation has different meanings depending on the most specific business model. Moving checks from the bank where they were deposited to the bank they were drawn on. E
Read this term and regulatory fees.
Giving a breakdown of its commissions between classes, the brokerage explained that it generated a commission of $1.95 on an average of 1,013 shares, $4.43 on an average of 6.6 contracts. stock options and $4.36 on an average of 3.3 futures contracts.
“Futures contracts include options on futures contracts,” Interactive Brokers said in the report. “We estimate FX, clearing and regulatory fees to be 57% of forward commissions.”
Revolut reaches 30 million users; crypto trading on TP ICAP; read today’s news nuggets.
Popular U.S. electronic trading platform Interactive Brokers reported mid-single-digit month-over-month (MoM) growth in its Daily Average Revenue (DART) trading and client accounts in May. While DARTs increased 5% to 1.86 million, the platform’s customer accounts increased 2% to 2.26 million.
However, compared to the same period last year, DARTs were down 19%, while accounts receivable jumped by the same amount. Interactive Brokers revealed the figures Thursday in its brokerage measures for May 2023.
Despite April’s DART growth of 1.765 million, Interactive Broker’s performance last month fell short of the 2.055 million transactions per day that generated revenue through commissions or fees earlier in March.
In terms of other metrics, end-customer equity, or the amount of money customers had in their trading accounts at the end of the month, grew 1% per month to $345.1 billion. and increased by 10% compared to the same period last year.
Additionally, the amount of money owed to brokerage by clients for leveraged trades also increased slightly by 1% to $39.5 billion. However, the end customer’s margin loan balance fell 10% year over year.
Unlike the client’s ending equity and margin loan balance, Interactive Broker’s clients’ ending credit balances, or the amount of money clients leave in their trading account after all trades have been settled and all fees and expenses deducted, fell 1% to $98.7 billion, down from $99.2 billion the previous month. However, the figure, which includes $2.9 billion in insured bank deposits, represents an 8% gain from balances in the same period a year earlier.
Additionally, Interactive Broker generated an average commission of $3.08 per cleared commissionable order last month, down 3% from the previous month. The figure includes exchange
Exchange
A stock exchange is known as a market that supports the trading of derivatives, commodities, securities, and other financial instruments. Typically, a stock exchange is accessible through a digital platform or sometimes at a tangible address where investors arrange to transact. One of the primary responsibilities of an exchange would be to maintain honest and fair trading practices. These are essential to ensure that the distribution of supported security rates on this exchange is effective.
A stock exchange is known as a market that supports the trading of derivatives, commodities, securities, and other financial instruments. Typically, a stock exchange is accessible through a digital platform or sometimes at a tangible address where investors arrange to transact. One of the primary responsibilities of an exchange would be to maintain honest and fair trading practices. These are essential to ensure that the distribution of supported security rates on this exchange is effective.
Read this term, clearing
Clearing
Compensation is a general term that simply means many different things depending on the topic and the related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of differences, or the total of claims settled in a clearing house. In finance and banking, the word compensation has different meanings depending on the most specific business model. Moving checks from the bank where they were deposited to the bank they were drawn on. E
Compensation is a general term that simply means many different things depending on the topic and the related industry. Most commonly, this refers to the reciprocal exchange between banks of checks and drafts, and the settlement of differences, or the total of claims settled in a clearing house. In finance and banking, the word compensation has different meanings depending on the most specific business model. Moving checks from the bank where they were deposited to the bank they were drawn on. E
Read this term and regulatory fees.
Giving a breakdown of its commissions between classes, the brokerage explained that it generated a commission of $1.95 on an average of 1,013 shares, $4.43 on an average of 6.6 contracts. stock options and $4.36 on an average of 3.3 futures contracts.
“Futures contracts include options on futures contracts,” Interactive Brokers said in the report. “We estimate FX, clearing and regulatory fees to be 57% of forward commissions.”
Revolut reaches 30 million users; crypto trading on TP ICAP; read today’s news nuggets.
