Electronic trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) has just reported its operating metrics for September 2024.
The broker registered 2.634 million Daily Average Revenue Trades (DARTs) in September 2024, 46% higher than in September 2023 and 3% lower than in August 2024.
Ending client equity was $541.5 billion, 46% higher than prior year and 5% higher than prior month.
Ending client margin loan balances amounted to $55.8 billion, 28% higher than prior year and 2% higher than prior month.
Ending client credit balances totalled $116.7 billion, including $4.6 billion in insured bank deposit sweeps, 19% higher than prior year and 4% higher than prior month.
Interactive Brokers reported 3.12 million client accounts, 28% higher than prior year and 2% higher than prior month.
The average commission per cleared Commissionable Order was $2.88 including exchange, clearing and regulatory fees.
Speaking of Interactive Brokers’ performance, let’s recall that net revenues were $1,230 million for the second quarter of 2024 and $1,290 million as adjusted. For the year-ago quarter, reported net revenues were $1,000 million and $1,064 million as adjusted.
Income before income taxes was $880 million for the second quarter of 2024 and $940 million as adjusted.
Commission revenue increased 26% to $406 million on higher customer trading volumes. Customer trading volume in options, stocks and futures increased 35%, 26% and 10%, respectively.
Net interest income increased 14% to $792 million on higher benchmark interest rates, customer margin loans and customer credit balances. Other fees and services increased $21 million, or 45%, to $68 million, driven primarily by increases of $14 million in risk exposure fees and $3 million each in payments for order flow from exchange-mandated programs and FDIC sweep program fees.
