Interactive Brokers Group Inc Stock Price, News & Analysis

Interactive Brokers Group (Nasdaq: IBKR) reported its June 2024 brokerage performance metrics, showing significant growth across key indicators. Daily Average Revenue Trades (DARTs) were 2.469 million, up 26% year-over-year and 5% month-over-month. Client equity reached $497.2 billion, marking a 36% increase from last year and 2% from the prior month. Client margin loan balances rose to $55.1 billion, up 32% year-over-year and 4% month-over-month, while client credit balances stood at $107.1 billion, an 8% annual increase. The number of client accounts climbed to 2.92 million, a 28% rise from last year.

Average commission per cleared order was $2.99. The mark-to-market gain on U.S. government securities for Q2 was $489,000. The value of the GLOBAL currency basket decreased by 0.21% in June. For U.S. Reg.-NMS stock trades, the average expense was 4.1 basis points of trade money for June and 3.3 basis points for the rolling twelve months.

Interactive Brokers (Nasdaq: IBKR) announces that its subsidiary, ForecastEx, has received Commodity Futures Trading Commission (CFTC) designations to operate a contract market and derivative clearing organization.

ForecastEx will start operations on July 8, 2024, offering commission-free trading to Interactive Brokers' clients from eligible countries. It is the first Futures Commission Merchant to join as an exchange member.

ForecastEx allows investors to trade prediction contracts on economic and climate events, with contract values fluctuating based on market judgment of probabilities. Contracts will cover indicators like US Consumer Price Index, US Fed Funds Target Rate, and global temperature, with durations ranging from weekly to annual.

Interactive Brokers will pay interest at 0.5% under the prevailing Fed Funds rate on the closing market value of positions, with interest accruing daily and paid monthly.

On June 3, 2024, Interactive Brokers (Nasdaq: IBKR) faced a critical issue when Berkshire Hathaway Class A shares (BRK A) dropped dramatically from $622,000 to $185 due to a technical problem at the NYSE.

During the trading halt, several clients placed market buy orders, anticipating low prices. When trading resumed, BRK A's price surged, reaching $741,971.39. Many clients had their orders filled at much higher prices, causing significant financial impact.

Interactive Brokers filed a clearly erroneous execution (CEE) petition with NYSE, which was declined. The company absorbed a $48 million loss and is considering legal options for recovery. They assert these losses won't materially impact their financial condition.

Interactive Brokers Group (Nasdaq: IBKR) will announce its second quarter financial results on July 16, 2024, at around 4:00 pm (ET). The results will be made available on the company's website. A conference call to discuss the financial results will follow at 4:30 pm (ET) on the same day. Interested parties can register for the call to obtain dial-in details or access the audio webcast through the Investor Relations section of the Interactive Brokers website.

Interactive Brokers (Nasdaq: IBKR) has introduced European stock options and European index futures and options through Cboe Europe Derivatives (CEDX). This new offering enhances Interactive Brokers' existing range of financial instruments, allowing clients to trade over 300 stock options on leading European companies and equity index derivatives from a single platform. Additionally, CEDX’s exchange, market data, and connectivity fees are waived until the end of 2024. Milan Galik, CEO of Interactive Brokers, emphasized the move as part of their commitment to providing clients with a wide range of products at low cost. Iouri Saroukhanov, Head of European Derivatives at Cboe Europe, highlighted this as a significant milestone for CEDX.

Interactive Brokers Group (Nasdaq: IBKR) reported its brokerage metrics for May 2024. The company recorded 2.36 million Daily Average Revenue Trades (DARTs), a 27% increase YoY and 1% MoM. Client equity totaled $486.3 billion, up 41% YoY and 6% MoM. Client margin loan balances were $53.1 billion, a 33% increase YoY and 5% MoM. Client credit balances reached $106.7 billion, 8% higher YoY and 1% MoM. The firm had 2.86 million client accounts, 27% higher YoY and 2% MoM. The average commission per cleared order was $3.01, with key products including stocks, equity options, and futures. Additionally, the total trade expense for IBKR PRO clients was 3.3 basis points, measured against the daily VWAP benchmark.

Interactive Brokers Group (Nasdaq: IBKR) will be featured at the Piper Sandler Global Exchange & Trading Conference on June 5th at 9:30 a.m. ET. Chairman Thomas Peterffy is scheduled to speak during the event. Interested parties can listen to the presentation live via webcast accessible through the company's website, with a replay also available later.

FusionIQ has announced its integration with Interactive Brokers (Nasdaq: IBKR) in Canada, expanding its cloud-based wealth management solutions for financial advisors. This integration highlights FusionIQ's commitment to digital transformation, offering financial advisors a streamlined, tech-enhanced platform. Key benefits include white-labeled investor websites, multilingual capabilities, and a mobile app, all aimed at enhancing client experiences and driving scalable growth. This initiative is part of FusionIQ's FIQ Journey, providing comprehensive digital workflows and automation to improve practice efficiencies for portfolio managers in Canada.

Interactive Brokers (Nasdaq: IBKR) has launched cryptocurrency trading for its UK clients, allowing individual and institutional investors to trade Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. This service is integrated into the existing platform, enabling users to manage traditional investments and cryptocurrencies from a single interface. Clients benefit from centralized cash management, competitive currency conversion rates, and low trading commissions ranging from 0.12% to 0.18% with a minimum of USD 1.75 per order. The crypto trading service is provided in partnership with Paxos Trust Company. This move offers enhanced portfolio flexibility and diversified investment options for UK-based clients.