GREENWICH, Conn.--(BUSINESS WIRE)--
Interactive Brokers Group, Inc. (NASDAQ GS: IBKR), an automated global electronic broker and market maker, today reported its Electronic Brokerage monthly performance metrics for September.
Highlights for the month included:
- 651 thousand Daily Average Revenue Trades (DARTs), 2% lower than prior year and 13% higher than prior month.
- Ending client equity of $82.7 billion, 33% higher than prior year and 3% higher than prior month.
- Ending client margin loan balances of $18.1 billion, 15% higher than prior year and 11% higher than prior month.
- Ending client credit balances of $42.0 billion, 20% higher than prior year and 1% higher than prior month.
- 370 thousand client accounts, 15% higher than prior year and 1% higher than prior month.
- 413 annualized average cleared DARTs per client account.
- Average commission per cleared client order of $3.93 including exchange, clearing and regulatory fees. Key products:
| September 2016 | Average Commission per | Average | ||||||
| Cleared Client Order | Order Size | |||||||
| Stocks | $2.16 | 1,829 shares | ||||||
| Equity Options | $6.06 | 9 contracts | ||||||
| Futures | $6.68 | 3.8 contracts |
Futures include options on futures. We estimate exchange, clearing and regulatory fees to be 57% of the futures commissions.
In the interest of transparency, we quantify our clients’ all-in cost of trade execution below.
For the full multimedia release with graph see link:
https://www.interactivebrokers.com/MonthlyMetrics
- In September, clients’ total cost of executing and clearing U.S. Reg.-NMS stocks through IB was 0.9 basis points of trade money1, as measured against a daily VWAP2 benchmark (0.4 basis point for the rolling twelve months).
| Interactive Brokers Clients' Reg.-NMS Stock Trading Expense Detail | |||||||||||||||||||||||||||||||||||||||||
| All amounts are in millions, except % | |||||||||||||||||||||||||||||||||||||||||
| Previous | |||||||||||||||||||||||||||||||||||||||||
| Oct '15 | Nov '15 | Dec '15 | Jan '16 | Feb '16 | Mar '16 | Apr '16 | May '16 | Jun '16 | Jul '16 | Aug '16 | Sep '16 | 12 Months | |||||||||||||||||||||||||||||
| #1a - Number of orders | |||||||||||||||||||||||||||||||||||||||||
| Buys | 2.29 | 1.93 | 2.03 | 2.27 | 2.25 | 2.18 | 2.09 | 2.06 | 2.05 | 1.79 | 2.01 | 2.04 | 24.99 | ||||||||||||||||||||||||||||
| Sells | 2.19 | 1.79 | 1.91 | 2.15 | 2.13 | 2.07 | 1.98 | 1.92 | 1.90 | 1.66 | 1.87 | 1.90 | 23.47 | ||||||||||||||||||||||||||||
| Total | 4.48 | 3.72 | 3.94 | 4.42 | 4.38 | 4.25 | 4.07 | 3.98 | 3.95 | 3.45 | 3.88 | 3.94 | 48.46 | ||||||||||||||||||||||||||||
| #1b - Number of shares purchased or sold | |||||||||||||||||||||||||||||||||||||||||
| Shares bought | 1,252 | 1,144 | 1,276 | 1,434 | 1,422 | 1,405 | 1,257 | 1,254 | 1,344 | 1,088 | 1,234 | 1,254 | 15,364 | ||||||||||||||||||||||||||||
| Shares sold | 1,227 | 1,089 | 1,240 | 1,465 | 1,420 | 1,385 | 1,256 | 1,229 | 1,307 | 1,071 | 1,201 | 1,223 | 15,113 | ||||||||||||||||||||||||||||
| Total | 2,479 | 2,233 | 2,516 | 2,899 | 2,842 | 2,790 | 2,513 | 2,483 | 2,651 | 2,159 | 2,435 | 2,477 | 30,477 | ||||||||||||||||||||||||||||
| #2 - Trade money including price, commissions and fees | |||||||||||||||||||||||||||||||||||||||||
| 2a Buy money | $57,085 | $44,082 | $48,552 | $54,502 | $48,708 | $44,510 | $41,354 | $40,467 | $45,068 | $36,938 | $39,945 | $45,001 | $546,212 | ||||||||||||||||||||||||||||
| 2b Sell money | $56,526 | $43,093 | $47,724 | $55,194 | $49,340 | $43,623 | $41,052 | $40,435 | $44,503 | $36,371 | $38,793 | $43,886 | $540,540 | ||||||||||||||||||||||||||||
| 2c Total | $113,611 | $87,175 | $96,276 | $109,696 | $98,048 | $88,133 | $82,406 | $80,902 | $89,571 | $73,309 | $78,738 | $88,887 | $1,086,752 | ||||||||||||||||||||||||||||
| #3 - Trade value at Daily VWAP | |||||||||||||||||||||||||||||||||||||||||
| 3a Buy value | $57,064 | $44,069 | $48,533 | $54,486 | $48,703 | $44,506 | $41,357 | $40,465 | $45,068 | $36,935 | $39,942 | $45,001 | $546,129 | ||||||||||||||||||||||||||||
| 3b Sell value | $56,492 | $43,085 | $47,718 | $55,180 | $49,341 | $43,624 | $41,058 | $40,436 | $44,507 | $36,371 | $38,800 | $43,893 | $540,505 | ||||||||||||||||||||||||||||
| 3c Total | $113,556 | $87,154 | $96,251 | $109,666 | $98,044 | $88,130 | $82,415 | $80,901 | $89,575 | $73,306 | $78,742 | $88,894 | $1,086,634 | ||||||||||||||||||||||||||||
| #4 - Total trade expense, including commissions and fees, relative to Daily VWAP | |||||||||||||||||||||||||||||||||||||||||
| 4a Buys (2a-3a) | $21.3 | $12.8 | $19.1 | $15.7 | $4.8 | $3.8 | ($3.3 | ) | $1.5 | ($0.3 | ) | $2.8 | $2.7 | $0.5 | $81.4 | ||||||||||||||||||||||||||
| 4b Sells (3b-2b) | ($33.6 | ) | ($8.0 | ) | ($6.3 | ) | ($13.9 | ) | $0.7 | $1.5 | $6.2 | $0.7 | $4.5 | ($0.5 | ) | $6.9 | $7.5 | ($34.3 | ) | ||||||||||||||||||||||
| 4c Total trade expense | ($12.3 | ) | $4.8 | $12.8 | $1.8 | $5.5 | $5.3 | $2.9 | $2.2 | $4.2 | $2.3 | $9.6 | $8.0 | $47.1 | |||||||||||||||||||||||||||
| Trade expense as percentage of trade money | |||||||||||||||||||||||||||||||||||||||||
| 4c/2c | -0.011 | % | 0.006 | % | 0.013 | % | 0.002 | % | 0.006 | % | 0.006 | % | 0.004 | % | 0.003 | % | 0.005 | % | 0.003 | % | 0.012 | % | 0.009 | % | 0.004 | % | |||||||||||||||
| #5 - Trade expense categories | |||||||||||||||||||||||||||||||||||||||||
| 5a Total commissions & fees | $10.0 | $9.0 | $9.8 | $11.5 | $11.3 | $11.1 | $10.0 | $9.9 | $10.7 | $8.9 | $9.8 | $9.9 | $121.9 | ||||||||||||||||||||||||||||
| 5b Execution cost (4c-5a) | ($22.3 | ) | ($4.2 | ) | $3.0 | ($9.7 | ) | ($5.8 | ) | ($5.8 | ) | ($7.1 | ) | ($7.7 | ) | ($6.5 | ) | ($6.6 | ) | ($0.2 | ) | ($1.9 | ) | ($74.8 | ) | ||||||||||||||||
| #6 - Trade expense categories as percentage of trade money | |||||||||||||||||||||||||||||||||||||||||
| Total commissions & fees (5a/2c) | 0.009 | % | 0.011 | % | 0.010 | % | 0.011 | % | 0.012 | % | 0.013 | % | 0.013 | % | 0.013 | % | 0.012 | % | 0.012 | % | 0.012 | % | 0.011 | % | 0.011 | % | |||||||||||||||
| Execution cost (5b/2c) | -0.020 | % | -0.005 | % | 0.003 | % | -0.009 | % | -0.006 | % | -0.007 | % | -0.009 | % | -0.010 | % | -0.007 | % | -0.009 | % | 0.000 | % | -0.002 | % | -0.007 | % | |||||||||||||||
| Net Expense to IB Clients | -0.011 | % | 0.006 | % | 0.013 | % | 0.002 | % | 0.006 | % | 0.006 | % | 0.004 | % | 0.003 | % | 0.005 | % | 0.003 | % | 0.012 | % | 0.009 | % | 0.004 | % | |||||||||||||||
The above illustrates that the rolling twelve months’ average all-in cost of a client U.S. Reg.-NMS stock trade was 0.4 basis point.
| _________________ |
| Note 1: Trade money is the total amount of money clients spent or received, including all commissions and fees. |
| Note 2: 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, Inc., together with its subsidiaries, is an automated global electronic broker that specializes in catering to financial professionals by offering state-of-the-art trading technology, superior execution capabilities, worldwide electronic access, and sophisticated risk management tools at exceptionally low costs. The brokerage trading platform utilizes the same innovative technology as the Company’s market making business, which executes and processes trades in securities, futures and foreign exchange instruments on more than 100 electronic exchanges and trading venues around the world. As a market maker, we provide liquidity at these marketplaces and, as a broker, we provide professional traders and investors with electronic access to stocks, options, futures, forex, bonds and mutual funds from a single IB Universal AccountSM. Employing proprietary software on a global communications network, Interactive Brokers Group continuously integrates its software with a growing number of exchanges and trading venues into one automatically functioning, computerized platform that requires minimal human intervention.
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.
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