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2024-07-02
News Interactive Brokers
Interactive Brokers reported an increase in performance for June 2024

Interactive Brokers reported an increase in performance for June 2024

Interactive Brokers recorded a significant increase in performance metrics for June 2024, showing increases in average daily transaction revenue (DART) and client equity.

DART for June totaled 2,469 million, up 26% year-over-year and 5% higher than May. Client capital reached $497.2 billion, reflecting an increase of 36% year-over-year and 2% month-over-month.

Client margin loan balances climbed to $55.1 billion, marking a 32% annual increase and a 4% rise from May. The number of client accounts grew to 2.92 million, a 28% increase year-over-year and a 2% monthly rise. Client credit balances, including $4.1 billion in insured bank deposit sweeps, saw an 8% year-over-year increase.

The average commission per cleared commissionable order was $2.99, including all fees. For stocks, the average order size was 910 shares at $1.99, while equity options averaged 6.9 contracts at $4.28 per order. Futures averaged 3.2 contracts per order at $4.61, with fees comprising 57% of the total commissions.

Despite these positive metrics, Interactive Brokers faced a $48 million loss due to a technical glitch on the New York Stock Exchange, which caused Berkshire Hathaway's shares to plummet from $622,000 to $185 per share. This incident forced the brokerage to cover its customers' trades without compensation from the NYSE.

Interactive Brokers also reported a mark-to-market gain of $489,000 on its US government securities portfolio for the quarter ending June 30, despite a 0.21% decrease in the GLOBAL portfolio value in June and a 0.22% decline for the quarter.

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