Interactive Brokers Group Reports Brokerage Metrics and Other Financial Information for February 2024, includes Reg.-NMS Execution Statistics
01 März 2024 - 6:30PM
Business Wire
Interactive Brokers Group, Inc. (Nasdaq: IBKR), an automated
global electronic broker, today reported its Electronic Brokerage
monthly performance metrics for February.
Brokerage highlights for the month included:
- 2.443 million Daily Average Revenue Trades (DARTs)1, 15% higher
than prior year and 11% higher than prior month.
- Ending client equity of $448.2 billion, 35% higher than prior
year and 6% higher than prior month.
- Ending client margin loan balances of $47.4 billion, 21% higher
than prior year and 7% higher than prior month.
- Ending client credit balances of $102.9 billion, including $3.9
billion in insured bank deposit sweeps2, 5% higher than prior year
and about even with prior month.
- 2.69 million client accounts, 24% higher than prior year and 2%
higher than prior month.
- 206 annualized average cleared DARTs1 per client account.
- Average commission per cleared Commissionable Order3 of $2.85
including exchange, clearing and regulatory fees. Key
products:
February 2024 Average Average Commission per
Order Size Cleared Commissionable Order Stocks 847
shares
$1.81
Equity Options 6.6 contracts
$4.01
Futures 3.2 contracts
$4.59
Futures include options on futures. We
estimate exchange, clearing and regulatory fees to be 56% of the
futures commissions.
Other financial information for Interactive Brokers
Group:
- GLOBAL4: The value of the GLOBAL, reported in U.S. dollars,
decreased by 0.17% in February.
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 $23,111 in February
(dividing 2c by 1a in table below).
- In February, IBKR PRO clients’ total cost of executing and
clearing U.S. Reg.-NMS stocks through IB was about 2.8 basis points
of trade money5, as measured against a daily VWAP6 benchmark (2.6
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
Mar
'23
Apr
'23
May
'23
Jun
'23
Jul
'23
Aug
'23
Sep
'23
Oct
'23
Nov
'23
Dec
'23
Jan
'24
Feb
'24
12
Months
#1a - Number of orders
Buys
7.28
4.99
6.13
6.04
5.84
6.56
5.14
6.01
5.44
5.61
6.79
7.24
73.07
Sells
5.37
3.72
4.66
4.62
4.35
4.81
3.67
4.29
4.25
4.48
4.92
5.38
54.52
Total
12.65
8.71
10.79
10.66
10.19
11.37
8.81
10.30
9.69
10.09
11.71
12.62
127.59
#1b - Number of shares purchased or
sold
Shares bought
3,399
2,336
2,706
2,607
2,369
2,858
2,132
2,447
2,431
2,596
2,639
2,636
31,156
Shares sold
3,180
2,158
2,606
2,495
2,262
2,720
2,044
2,367
2,296
2,471
2,551
2,499
29,649
Total
6,579
4,495
5,313
5,102
4,631
5,578
4,176
4,814
4,727
5,067
5,189
5,135
60,804
#2 - Trade money including price,
commissions and fees
2a Buy money
$139,588
$90,813
$114,892
$128,303
$116,426
$129,975
$102,405
$124,119
$119,396
$115,908
$133,951
$148,224
$1,463,999
2b Sell money
$136,889
$91,534
$111,882
$126,129
$113,811
$131,518
$103,953
$125,174
$118,893
$114,742
$131,649
$143,433
$1,449,608
2c Total
$276,476
$182,346
$226,774
$254,432
$230,237
$261,493
$206,358
$249,294
$238,290
$230,650
$265,601
$291,657
$2,913,607
#3 - Trade value at Daily VWAP
3a Buy value
$139,592
$90,785
$114,824
$128,262
$116,395
$129,887
$102,374
$124,109
$119,426
$115,916
$133,917
$148,162
$1,463,650
3b Sell value
$136,917
$91,534
$111,883
$126,175
$113,855
$131,510
$103,980
$125,212
$118,981
$114,806
$131,705
$143,451
$1,450,008
3c Total
$276,509
$182,319
$226,707
$254,438
$230,250
$261,397
$206,353
$249,321
$238,407
$230,722
$265,622
$291,612
$2,913,657
#4 - Total trade expense, including
commissions and fees, relative to Daily VWAP
4a Buys (2a-3a)
($4.6)
$27.5
$68.3
$40.3
$30.5
$88.2
$31.3
$9.9
($30.0)
($8.3)
$34.2
$62.5
$349.8
4b Sells (3b-2b)
$28.4
($0.0)
$1.4
$46.2
$44.2
($8.0)
$26.6
$37.2
$87.3
$63.8
$55.2
$18.0
$400.2
4c Total trade expense
$23.8
$27.4
$69.7
$86.5
$74.7
$80.2
$57.9
$47.2
$57.3
$55.6
$89.4
$80.5
$750.0
Trade expense as percentage of trade
money
4c/2c
0.009%
0.015%
0.031%
0.034%
0.032%
0.031%
0.028%
0.019%
0.024%
0.024%
0.034%
0.028%
0.026%
#5 - Trade expense categories
5a Total commissions & fees
$28.4
$19.2
$23.4
$22.7
$20.7
$23.6
$18.3
$21.5
$21.1
$21.8
$23.4
$23.7
$267.8
5b Execution cost (4c-5a)
($4.7)
$8.2
$46.3
$63.8
$54.0
$56.6
$39.5
$25.7
$36.2
$33.7
$66.0
$56.7
$482.0
#6 - Trade expense categories as percentage
of trade money
Total commissions & fees (5a/2c)
0.011%
0.011%
0.011%
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
0.009%
Execution cost (5b/2c)
-0.002%
0.004%
0.020%
0.025%
0.023%
0.022%
0.019%
0.010%
0.015%
0.015%
0.025%
0.019%
0.017%
Net Expense to IB Clients
0.009%
0.015%
0.031%
0.034%
0.032%
0.031%
0.028%
0.019%
0.024%
0.024%
0.034%
0.028%
0.026%
The above illustrates that the rolling twelve months’ average
all-in cost of an IBKR PRO client U.S. Reg.-NMS stock trade was 2.6
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: 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 5: Trade money is the total amount of money clients
spent or received, including all commissions and fees.
Note 6: 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. For the sixth consecutive year, Barron’s ranked
Interactive Brokers #1 with 5 out of 5 stars in its June 9, 2023,
Best Online Brokers Review.
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/20240301480360/en/
Interactive Brokers Group, Inc. Rob Garfield -
media@ibkr.com
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