Interactive Brokers Group, Inc. (Nasdaq: IBKR) an automated global electronic broker, today reported its Electronic Brokerage monthly performance metrics for August.
Brokerage highlights for the month included:
- 1.931 million Daily Average Revenue Trades (DARTs)1, 2% lower than prior year and 3% lower than prior month.
- Ending client equity of $377.6 billion, 22% higher than prior year and 2% lower than prior month.
- Ending client margin loan balances of $42.1 billion, 2% lower than prior year and 3% lower than prior month.
- Ending client credit balances of $99.0 billion, including $3.4 billion in insured bank deposit sweeps2, 3% higher than prior year and about even with prior month.
- 2.37 million client accounts, 19% higher than prior year and 2% higher than prior month.
- 184 annualized average cleared DARTs1 per client account.
- Average commission per cleared Commissionable Order3 of $3.09 including exchange, clearing and regulatory fees. Key products:
| August 2023 | Average | Average Commission per | |||||||||||
Order Size | Cleared Commissionable Order | ||||||||||||
| Stocks | 1,047 shares | $1.94 | |||||||||||
| Equity Options | 6.7 contracts | $4.49 | |||||||||||
| Futures | 3.1 contracts | $4.04 |
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 0.38% in August.
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 $22,999 in August (dividing 2c by 1a in table below).
- In August, IBKR PRO clients’ total cost of executing and clearing U.S. Reg.-NMS stocks through IB was about 3.1 basis points of trade money5, as measured against a daily VWAP6 benchmark (2.4 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 | ||||||||||||||||||||||||||
Sep '22 | Oct '22 | Nov '22 | Dec '22 | Jan '23 | Feb '23 | Mar '23 | Apr '23 | May '23 | Jun '23 | Jul '23 | Aug '23 | 12 Months | ||||||||||||||
| #1a - Number of orders | ||||||||||||||||||||||||||
| Buys | 6.29 | 6.26 | 6.10 | 5.76 | 5.97 | 6.37 | 7.28 | 4.99 | 6.13 | 6.04 | 5.84 | 6.56 | 73.59 | |||||||||||||
| Sells | 4.60 | 4.77 | 4.76 | 4.23 | 4.65 | 4.79 | 5.37 | 3.72 | 4.66 | 4.62 | 4.35 | 4.81 | 55.33 | |||||||||||||
| Total | 10.89 | 11.03 | 10.86 | 9.99 | 10.62 | 11.16 | 12.65 | 8.71 | 10.79 | 10.66 | 10.19 | 11.37 | 128.92 | |||||||||||||
| #1b - Number of shares purchased or sold | ||||||||||||||||||||||||||
| Shares bought | 2,625 | 2,726 | 2,803 | 2,704 | 2,904 | 2,857 | 3,399 | 2,336 | 2,706 | 2,607 | 2,369 | 2,858 | 32,895 | |||||||||||||
| Shares sold | 2,532 | 2,632 | 2,681 | 2,522 | 2,768 | 2,711 | 3,180 | 2,158 | 2,606 | 2,495 | 2,262 | 2,720 | 31,268 | |||||||||||||
| Total | 5,157 | 5,358 | 5,484 | 5,226 | 5,672 | 5,567 | 6,579 | 4,495 | 5,313 | 5,102 | 4,631 | 5,578 | 64,163 | |||||||||||||
| #2 - Trade money including price, commissions and fees | ||||||||||||||||||||||||||
| 2a Buy money | $111,851 | $117,260 | $116,590 | $99,937 | $109,220 | $122,485 | $139,588 | $90,813 | $114,892 | $128,303 | $116,426 | $129,975 | $1,397,339 | |||||||||||||
| 2b Sell money | $112,867 | $117,092 | $115,319 | $100,639 | $108,135 | $121,850 | $136,889 | $91,534 | $111,882 | $126,129 | $113,811 | $131,518 | $1,387,665 | |||||||||||||
| 2c Total | $224,718 | $234,352 | $231,909 | $200,576 | $217,356 | $244,335 | $276,476 | $182,346 | $226,774 | $254,432 | $230,237 | $261,493 | $2,785,004 | |||||||||||||
| #3 - Trade value at Daily VWAP | ||||||||||||||||||||||||||
| 3a Buy value | $111,806 | $117,318 | $116,603 | $99,874 | $109,252 | $122,425 | $139,592 | $90,785 | $114,824 | $128,262 | $116,395 | $129,887 | $1,397,024 | |||||||||||||
| 3b Sell value | $112,874 | $117,179 | $115,399 | $100,608 | $108,207 | $121,878 | $136,917 | $91,534 | $111,883 | $126,175 | $113,855 | $131,510 | $1,388,020 | |||||||||||||
| 3c Total | $224,680 | $234,497 | $232,003 | $200,481 | $217,459 | $244,303 | $276,509 | $182,319 | $226,707 | $254,438 | $230,250 | $261,397 | $2,785,044 | |||||||||||||
| #4 - Total trade expense, including commissions and fees, relative to Daily VWAP | ||||||||||||||||||||||||||
| 4a Buys (2a-3a) | $44.4 | ($58.5) | ($13.5) | $63.6 | ($31.6) | $60.2 | ($4.6) | $27.5 | $68.3 | $40.3 | $30.5 | $88.2 | $314.7 | |||||||||||||
| 4b Sells (3b-2b) | $6.8 | $86.8 | $80.4 | ($31.3) | $72.2 | $28.0 | $28.4 | ($0.0) | $1.4 | $46.2 | $44.2 | ($8.0) | $354.9 | |||||||||||||
| 4c Total trade expense | $51.2 | $28.3 | $66.9 | $32.3 | $40.6 | $88.2 | $23.8 | $27.4 | $69.7 | $86.5 | $74.7 | $80.2 | $669.6 | |||||||||||||
| Trade expense as percentage of trade money | ||||||||||||||||||||||||||
| 4c/2c | 0.023% | 0.012% | 0.029% | 0.016% | 0.019% | 0.036% | 0.009% | 0.015% | 0.031% | 0.034% | 0.032% | 0.031% | 0.024% | |||||||||||||
| #5 - Trade expense categories | ||||||||||||||||||||||||||
| 5a Total commissions & fees | $24.5 | $25.3 | $25.6 | $23.8 | $25.6 | $25.8 | $28.4 | $19.2 | $23.4 | $22.7 | $20.7 | $23.6 | $288.6 | |||||||||||||
| 5b Execution cost (4c-5a) | $26.7 | $3.0 | $41.2 | $8.5 | $15.1 | $62.4 | ($4.7) | $8.2 | $46.3 | $63.8 | $54.0 | $56.6 | $381.1 | |||||||||||||
| #6 - Trade expense categories as percentage of trade money | ||||||||||||||||||||||||||
| Total commissions & fees (5a/2c) | 0.011% | 0.011% | 0.011% | 0.012% | 0.012% | 0.010% | 0.011% | 0.011% | 0.011% | 0.009% | 0.009% | 0.009% | 0.010% | |||||||||||||
| Execution cost (5b/2c) | 0.012% | 0.001% | 0.018% | 0.004% | 0.007% | 0.026% | -0.002% | 0.004% | 0.020% | 0.025% | 0.023% | 0.022% | 0.014% | |||||||||||||
| Net Expense to IB Clients | 0.023% | 0.012% | 0.029% | 0.016% | 0.019% | 0.036% | 0.009% | 0.015% | 0.031% | |||||||||||||||||
