Interactive Brokers Group Reports Brokerage Metrics and Other Financial Information for June 2024, includes Reg.-NMS Execution Statistics
July 01 2024 - 12:21PM
Business Wire
Interactive Brokers Group, Inc. (Nasdaq: IBKR) an automated
global electronic broker, today reported its Electronic Brokerage
monthly performance metrics for June.
Brokerage highlights for the month included:
- 2.469 million Daily Average Revenue Trades (DARTs)1, 26% higher
than prior year and 5% higher than prior month.
- Ending client equity of $497.2 billion, 36% higher than prior
year and 2% higher than prior month.
- Ending client margin loan balances of $55.1 billion, 32% higher
than prior year and 4% higher than prior month.
- Ending client credit balances of $107.1 billion, including $4.1
billion in insured bank deposit sweeps2, 8% higher than prior year
and about even with prior month.
- 2.92 million client accounts, 28% higher than prior year and 2%
higher than prior month.
- 190 annualized average cleared DARTs1 per client account.
- Average commission per cleared Commissionable Order3 of $2.99
including exchange, clearing and regulatory fees. Key
products:
June 2024 Average Average Commission per
Order Size Cleared Commissionable Order Stocks 910
shares
$1.99
Equity Options 6.9 contracts
$4.28
Futures 3.2 contracts
$4.61
Futures include options on futures. We
estimate exchange, clearing and regulatory fees to be 57% of the
futures commissions.
Other financial information for Interactive Brokers
Group:
- Mark to market on U.S. government securities portfolio4 was a
gain of $489,000 for the quarter ended June 30th.
- GLOBAL5: The value of the GLOBAL, reported in U.S. dollars,
decreased by 0.21% in June and decreased by 0.22% for the quarter
ended June 30th.
In the interest of transparency, we quantify our IBKR PRO
clients’ all-in cost of trade execution below.
For the full multimedia release with graph see link:
https://www.interactivebrokers.com/MonthlyMetrics
- Average U.S. Reg-NMS stock trade was $21,541 in June (dividing
2c by 1a in table below).
- In June, IBKR PRO clients’ total cost of executing and clearing
U.S. Reg.-NMS stocks through IB was about 4.1 basis points of trade
money6, as, measured against a daily VWAP7 benchmark (3.3 basis
points net cost for the rolling twelve months).
IBKR PRO Clients' Reg.-NMS Stock Trading Expense Detail
All amounts are in millions, except %
Previous
Jul
'23
Aug
'23
Sep
'23
Oct
'23
Nov
'23
Dec
'23
Jan
'24
Feb
'24
Mar
'24
Apr
'24
May
'24
Jun
'24
12
Months
#1a - Number of orders Buys
5.84
6.56
5.14
6.01
5.44
5.61
6.79
7.24
8.51
8.36
8.80
8.07
82.37
Sells
4.35
4.81
3.67
4.29
4.25
4.48
4.92
5.38
6.23
6.21
6.67
5.83
61.09
Total
10.19
11.37
8.81
10.30
9.69
10.09
11.71
12.62
14.74
14.57
15.47
13.90
143.46
#1b - Number of shares purchased or sold Shares
bought
2,369
2,858
2,132
2,447
2,431
2,596
2,639
2,636
3,432
3,387
4,712
3,305
34,944
Shares sold
2,262
2,720
2,044
2,367
2,296
2,471
2,551
2,499
3,189
3,190
4,374
3,100
33,063
Total
4,631
5,578
4,176
4,814
4,727
5,067
5,189
5,135
6,621
6,577
9,087
6,405
68,007
#2 - Trade money including price, commissions and
fees 2a Buy money
$116,426
$129,975
$102,405
$124,119
$119,396
$115,908
$133,951
$148,224
$165,938
$161,619
$170,762
$151,903
$1,640,626
2b Sell money
$113,811
$131,518
$103,953
$125,174
$118,893
$114,742
$131,649
$143,433
$163,285
$165,541
$169,343
$147,514
$1,628,857
2c Total
$230,237
$261,493
$206,358
$249,294
$238,290
$230,650
$265,601
$291,657
$329,223
$327,160
$340,105
$299,417
$3,269,483
#3 - Trade value at Daily VWAP 3a Buy value
$116,395
$129,887
$102,374
$124,109
$119,426
$115,916
$133,917
$148,162
$165,825
$161,534
$170,686
$151,684
$1,639,914
3b Sell value
$113,855
$131,510
$103,980
$125,212
$118,981
$114,806
$131,705
$143,451
$163,313
$165,602
$169,379
$147,417
$1,629,209
3c Total
$230,250
$261,397
$206,353
$249,321
$238,407
$230,722
$265,622
$291,612
$329,138
$327,135
$340,066
$299,101
$3,269,124
#4 - Total trade expense, including commissions and fees,
relative to Daily VWAP 4a Buys (2a-3a)
$30.5
$88.2
$31.3
$9.9
($30.0)
($8.3)
$34.2
$62.5
$113.3
$85.1
$75.4
$219.1
$711.2
4b Sells (3b-2b)
$44.2
($8.0)
$26.6
$37.2
$87.3
$63.8
$55.2
$18.0
$28.0
$60.7
$36.0
($97.1)
$352.0
4c Total trade expense
$74.7
$80.2
$57.9
$47.2
$57.3
$55.6
$89.4
$80.5
$141.3
$145.8
$111.4
$122.0
$1,063.2
Trade expense as percentage of trade money
4c/2c
0.032%
0.031%
0.028%
0.019%
0.024%
0.024%
0.034%
0.028%
0.043%
0.045%
0.033%
0.041%
0.033%
#5 - Trade expense categories 5a Total commissions
& fees
$20.7
$23.6
$18.3
$21.5
$21.1
$21.8
$23.4
$23.7
$29.2
$28.8
$36.1
$30.4
$298.6
5b Execution cost (4c-5a)
$54.0
$56.6
$39.5
$25.7
$36.2
$33.7
$66.0
$56.7
$112.1
$117.0
$75.4
$91.6
$764.5
#6 - Trade expense categories as percentage of trade
money Total commissions & fees (5a/2c)
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.011%
0.010%
0.010%
Execution cost (5b/2c)
0.023%
0.022%
0.019%
0.010%
0.015%
0.015%
0.025%
0.019%
0.034%
0.036%
0.022%
0.031%
0.023%
Net Expense to IB Clients
0.032%
0.031%
0.028%
0.019%
0.024%
0.024%
0.034%
0.028%
0.043%
0.045%
0.033%
0.041%
0.033%
The above illustrates that the rolling twelve months’ average
all-in cost of an IBKR PRO client U.S. Reg.-NMS stock trade was 3.3
basis points.
________________ Note 1: Daily Average Revenue Trades
(DARTs) – customer orders divided by the number of trading days in
the period.
Note 2: FDIC insured client bank deposit sweep program
balances with participating banks. These deposits are not reported
in the Company’s statement of financial condition.
Note 3: Commissionable Order – a customer order that
generates commissions.
Note 4: Mark to market gains and losses on investments in
U.S. government securities and associated hedges are included in
Other Income. In the general course of business, we hold these
investments to maturity. As a result, accumulated mark to market
gains or losses should converge to zero at maturity. Accounting
conventions require broker-dealers, unlike banks, to mark all
investments to market.
Note 5: In connection with our currency diversification
strategy, we have determined to base our net worth in GLOBALs, a
basket of 10 major currencies in which we hold our equity. The
total effect of the currency diversification strategy is reported
in Comprehensive Income and the components are reported in (1)
Other Income and (2) Other Comprehensive Income (“OCI”) on the
balance sheet. The effect of the GLOBAL on our comprehensive income
can be estimated by multiplying the total equity for the period by
the change in the U.S. dollar value of the GLOBAL during the same
period.
Note 6: Trade money is the total amount of money clients
spent or received, including all commissions and fees.
Note 7: Consistent with the clients’ trading activity,
the computed VWAP benchmark includes extended trading hours.
_________________ More information, including historical results
for each of the above metrics, can be found on the investor
relations page of the Company’s corporate web site,
www.interactivebrokers.com/ir.
About Interactive Brokers Group, Inc.:
Interactive Brokers Group affiliates provide automated trade
execution and custody of securities, commodities, and foreign
exchange around the clock on over 150 markets in numerous countries
and currencies, from a single unified platform to clients
worldwide. We serve individual investors, hedge funds, proprietary
trading groups, financial advisors and introducing brokers. Our
four decades of focus on technology and automation has enabled us
to equip our clients with a uniquely sophisticated platform to
manage their investment portfolios. We strive to provide our
clients with advantageous execution prices and trading, risk and
portfolio management tools, research facilities and investment
products, all at low or no cost, positioning them to achieve
superior returns on investments. Interactive Brokers has
consistently earned recognition as a top broker, garnering multiple
awards and accolades from respected industry sources such as
Barron’s, Investopedia, Stockbrokers.com, and many others.
Cautionary Note Regarding Forward-Looking Statements:
The foregoing information contains certain forward-looking
statements that reflect the company's current views with respect to
certain current and future events and financial performance. These
forward-looking statements are and will be, as the case may be,
subject to many risks, uncertainties and factors relating to the
company's operations and business environment which may cause the
company's actual results to be materially different from any future
results, expressed or implied, in these forward-looking statements.
Any forward-looking statements in this release are based upon
information available to the company on the date of this release.
The company does not undertake to publicly update or revise its
forward-looking statements even if experience or future changes
make it clear that any statements expressed or implied therein will
not be realized. Additional information on risk factors that could
potentially affect the company's financial results may be found in
the company's filings with the Securities and Exchange
Commission.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240701890009/en/
Interactive Brokers Group, Inc.: Rob Garfield -
media@ibkr.com
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