Interactive Brokers Group, Inc. (NASDAQ GS:IBKR) an automated
global electronic broker and market maker, today reported its
Electronic Brokerage monthly performance metrics for March.
Highlights for the month included:
- 636 thousand Daily Average Revenue
Trades (DARTs), 9% higher than prior year and unchanged from prior
month.
- Ending client equity of $61.2 billion,
25% higher than prior year and 1% higher than prior month.
- Ending client margin loan balances of
$17.3 billion, 20% higher than prior year and 4% higher than prior
month.
- Ending client credit balances of $31.8
billion, 19% higher than prior year and 1% higher than prior
month.
- 296 thousand client accounts, 18%
higher than prior year and 2% higher than prior month.
- 496 annualized average cleared DARTs
per client account.
- Average commission per cleared client
order of $3.96 including exchange, clearing and regulatory fees.
Key products:
March 2015 Average Commission
per Average Cleared Client Order Order
Size Stocks $2.33 1,846 shares Equity Options $5.85 9.3
contracts Futures $6.79 3.9 contracts
Futures include options on futures. We estimate exchange,
clearing and regulatory fees to be 58% 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 March, clients’ total cost of
executing and clearing U.S. Reg.-NMS stocks through IB was 1.4
basis points of trade money1, as measured against a daily VWAP2
benchmark (1.0 basis points for the rolling twelve months).
Interactive Brokers Clients' Reg.-NMS Stock Trading
Expense Detail All amounts are in millions, except %
Previous Apr
'14 May '14 Jun
'14 Jul '14 Aug
'14 Sep '14 Oct
'14 Nov '14 Dec
'14 Jan '15 Feb
'15 Mar '15 12
Months #1a - Number of orders Buys 1.83 1.62 1.61
1.76 1.57 1.88 2.32 1.63 1.93 1.99 1.88
2.18 22.20 Sells
1.73 1.55 1.49 1.62 1.47 1.71
2.22 1.49 1.79 1.83 1.76
2.02 20.68
Total 3.56 3.17 3.10 3.38 3.04 3.59
4.54 3.12 3.72 3.82 3.64
4.20 42.88 #1b -
Number of shares purchased or sold Shares bought 1,034 970 958
1,038 924 1,119 1,499 970 1,218 1,196 1,090
1,288 13,304
Shares sold 1,006 956 928 1,031 904
1,080 1,529 929 1,213 1,180
1,070
1,269 13,095
Total 2,040
1,926 1,886 2,069 1,828 2,199 3,028 1,899 2,431 2,376 2,160
2,557 26,399 #2 - Trade money including
price, commissions and fees 2a Buy money $44,679 $36,818
$36,765 $40,794 $35,478 $42,991 $58,523 $35,855 $48,290 $55,913
$49,735
$64,756 $550,597 2b Sell money $44,684
$36,537 $35,054 $39,940 $35,437 $41,693
$59,611 $34,281 $48,846 $55,478
$49,200
$64,675 $545,436
2c Total
$89,363 $73,355 $71,819 $80,734 $70,915 $84,684 $118,134 $70,136
$97,136 $111,391 $98,935
$129,431 $1,096,033
#3 - Trade value at Daily VWAP 3a Buy value $44,669 $36,815
$36,766 $40,778 $35,472 $42,984 $58,541 $35,849 $48,280 $55,881
$49,720
$64,736 $550,491 3b Sell value $44,673
$36,543 $35,064 $39,937 $35,443 $41,694
$59,631 $34,290 $48,846 $55,452
$49,197
$64,674 $545,444
3c Total
$89,342 $73,358 $71,830 $80,715 $70,915 $84,678 $118,172 $70,139
$97,126 $111,333 $98,917
$129,410 $1,095,935
#4 - Total trade expense, including commissions and fees,
relative to Daily VWAP 4a Buys (2a-3a) $10.1 $3.4 ($0.9) $16.0
$5.9 $6.4 ($17.7) $5.7 $9.9 $32.2 $14.3
$19.4 $104.7 4b
Sells (3b-2b) ($11.2) $5.3 $9.7 ($3.7)
$6.6 $1.0 $20.7 $8.2 ($0.1)
($25.2) ($2.5)
($1.2) $7.6
4c Total
trade expense ($1.1) $8.7 $8.8 $12.3 $12.5 $7.4 $3.0 $13.9 $9.8
$7.0 $11.8
$18.2 $112.3 Trade expense as
percentage of trade money 4c/2c -0.001% 0.012% 0.012%
0.015% 0.018% 0.009% 0.003% 0.020% 0.010% 0.006% 0.012%
0.014% 0.010% #5 - Trade expense
categories 5a Total commissions & fees $9.3 $8.0 $8.1 $9.0
$8.2 $9.6 $13.2 $8.6 $10.5 $10.3 $9.1
$10.4 $114.3
5b Execution cost (4c-5a) ($10.4) $0.6 $0.7 $3.4 $4.3 ($2.2)
($10.2) $5.3 ($0.7) ($3.3) $2.7
$7.8 ($2.0)
#6 - Trade expense categories as percentage of trade money
Total commissions & fees (5a/2c) 0.010% 0.011% 0.011% 0.011%
0.012% 0.012% 0.012% 0.012% 0.011% 0.009% 0.009%
0.008%
0.010% Execution cost (5b/2c) -0.011% 0.001%
0.001% 0.004% 0.006% -0.003% -0.009%
0.008% -0.001% -0.003% 0.003%
0.006% 0.000% Net Expense to IB Clients
-0.001% 0.012% 0.012% 0.015% 0.018% 0.009% 0.003% 0.020% 0.010%
0.006% 0.012%
0.014% 0.010%
The above illustrates that the rolling twelve months’ average
all-in cost of a client U.S. Reg.-NMS stock trade was 1.0 basis
points.
Additional information for our shareholders:
- As originally reported on January 16,
2015, due to the sudden move in the value of the Swiss franc that
followed an unprecedented action by the Swiss National Bank,
several of the Company’s customers who held currency futures and
spot positions suffered losses in excess of their deposits with the
Company. We will recognize a total net loss from this event of $120
million, consistent with our original estimate.
- In relation to our corporate level
currency translation effects, the net decrease in the value of the
GLOBAL for the quarter ended March 31, 2015 was 3.8%3.
_________________
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.
Note 3: In connection with our currency diversification
strategy, we have determined to base our Group net worth in
GLOBALs, a basket of 16 major currencies in which we hold our Group
equity. Increases and decreases in the U.S. dollar value of the
GLOBAL produce translation gains and losses, respectively, as
reported in U.S. dollars. These gains and losses are reported in
the corporate segment in our quarterly and annual consolidated
financial statements. Our consolidated Group equity at December 31,
2014 was $5.18 billion.
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.
For Interactive Brokers Group,
Inc.Investors:Patrick Brennan,
203-618-4070orMedia:Caitlin Duffy, 203-913-1369
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