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Interactive Brokers Rises on Improved February Metrics

Interactive Brokers Group, Inc.’s IBKR Electronic Brokerage segment reported a year-over-year improvement in its brokerage metrics for Feb 2016. Following this release on Monday, shares of the company were up 4.2%. The segment deals with clearance and settling of trades for both individual and institutional clients on a global basis.

Total client DARTs were 767,000, up 21% from Feb 2015, but down 8% from Jan 2016. Further, total customer accounts were 339,700, up 17% from the prior-year month and 1% from the preceding month.

Interactive Brokers recorded Cleared Client DARTs of 706,000, up 22% from Feb 2015, but down 7% from Jan 2016. On an annualized basis, Cleared Average DARTs per customer account of 527,000 rose 4% from the year-ago period but declined 8% from the preceding month.

Interactive Brokers’ total option contracts were 21.6 million, stable year over year but down 16% from the prior month. Additionally, future contracts jumped 46% from Feb 2015, but declined 6% from Jan 2016 to 12.4 million.

Interactive Brokers also provides data related to period-end statistics for client equity, credit balances and margin loan balances. For Feb 2016, client equity was $66.1 billion, up 10% year over year and 2% from the prior month.

Also, Interactive Brokers recorded a client credit balance of $36.9 billion in the reported month, up 17% from Feb 2015 and 3% from Jan 2016. However, the company’s customer margin loan balance of $14.6 billion decreased 12% from the prior-year month and 5% from the preceding month.

We expect Interactive Brokers to see improvement in its monthly metrics, as the company remains well poised to gain from volatility of the equity markets. If such a market scenario prevails, strong trading activities are expected to accelerate the company’s top-line growth.

Currently, Interactive Brokers carries a Zacks Rank #3 (Hold).

Notably, monthly performance of other investment brokerage firms including The Charles Schwab Corporation SCHW, E*TRADE Financial Corporation ETFC and TD Ameritrade Holding Corporation AMTD will be revealed in the next couple of weeks.

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