Interactive Brokers reported higher trading activity and continued growth in client assets and account numbers in May, according to its latest monthly operating metrics.
The electronic brokerage said average daily trading revenue reached 4.969 million during the month. This figure was 47% higher than in May last year and 17% higher than the April level.
Credit balances rise along with customer equity
Customer rights rose to $937.3 billion at the end of May. This represents an increase of 49% from the previous year and an increase of 8% from the previous month. The total client asset balance is approaching the $1 trillion mark.
Margin lending also increased. Interactive Brokers reported expiring client margin loan balances of $100.9 billion, up 65% year over year and 11% higher than they were at the end of April.
Customer credit balances reached $180.1 billion. The total included $6.4 billion held in insured bank deposit scanning programs. Credit balances increased by 34% compared to the same month last year and by 3% compared to the previous month.
Margin loans drive growth across metrics
The broker has continued to expand its client base. It ended May with 4.995 million customer accounts, an increase of 32% from a year ago and 3% higher than in April.
Interactive Brokers also reported 216 DART shares scanned annually per client account. The average commission per commissionable order was $2.60, including exchangeClearing and regulatory fees.
The latest numbers continue the growth trend for the brokerage. Trading volumes, client assets, margin balances and account numbers recorded double-digit year-over-year increases during the month.
Among the metrics reported, margin loan balances posted the fastest year-over-year growth, rising 65%. This was followed by a 49% increase in customer equity, while DART shares rose 47%. Customers’ credit balances and account numbers increased by 34% and 32%, respectively.
IBKR adds Cloud for client trading
The company too Integrated access to Anthropic’s Claude through its authorized connector marketplaceAllowing clients to link existing accounts using standard login credentials to search markets, review portfolios and create trade instructions.
No additional account or funding is required. The AI generated instructions are directed to the review tab and are executed only after customer approval. Trading currently covers stocks and ETFs.
This article was written by Tariq Sikdar at www.financemagnates.com.
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