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Interactive Brokers Group, a leading automated global electronic brokerage firm, has shared its monthly performance data for December 2023. The metrics point towards increased growth across major areas.
Some metrics that have increased during the month include the daily average revenue trades (DARTs) and the number of new client accounts.
Interactive Brokers Posts Positive Numbers in December 2023
DARTs are the number of trades done by customers on the platform to generate revenue. These trades hit 1.972 million in December 2023, a 13% increase compared to December 2022 and a 4% increase from November 2023.
During the month, the ending client equity reached $426 billion, which is a 39% gain from December 2022 and a 5% growth from November 2023. Moreover, the client margin loan balances increased 14% year-over-year to $44.4 billion as client credit balances increased 10% to 104.5 billion.
The number of clients at Interactive Brokers also increased, to reach 2.56 million accounts by the end of December, representing a 23% year-over-year increase. During the month, the annualized average DARTs per client account reached 172. The total number of accounts on Interactive Brokers in December 2023 increased by 2% compared to the previous month.
Interactive Brokers’ quarterly loss hit $0.3 million, with the annual gain on its US government securities portfolio reaching $8.4 million.
The positive financial figures for December 2023 could translate into 2024. The growth will come from its automated global electronic brokerage model and extending competitive pricing models to its clients.
Interactive Brokers Board Sins on Rich Repetto
Interactive Brokers has appointed Rich Repetto as an independent director. Repetto has a career of more than two decades as an analyst.
One of the companies that Repetto has worked at is Piper Sandler, where he specialized in trading and financial technology. In 2010, Repetto received the Analyst of the Year award from the Financial Times.
While commenting on Repetto’s appointment to the Interactive Brokers board, the Founder and Chairman at Interactive Brokers, Thomas Peterffy, said Repetto’s “deep knowledge and understanding of our industry brings an important perspective that we expect will benefit our company.”
Before working at Piper Sandler, Repetto spent around two decades as the principal of Sandler O’Neill. He has also previously worked at Lehman Brothers where he founded the online financial service sector coverage. He has also worked in sales and marketing at Mobil.
