Interactive Brokers Group, Inc. (NASDAQ GS: IBKR), an automated
global electronic broker and market maker, today reported its
Electronic Brokerage monthly performance metrics for June, and
changes in the composition of its currency exposure management
unit.
Highlights for the month included:
- 643 thousand Daily Average Revenue
Trades (DARTs), 7% higher than prior year and even with prior
month.
- Ending client equity of $73.7 billion,
12% higher than prior year and 2% higher than prior month.
- Ending client margin loan balances of
$15.0 billion, 21% lower than prior year and 1% lower than prior
month.
- Ending client credit balances of $38.7
billion, 16% higher than prior year and 1% lower than prior
month.
- 357 thousand client accounts, 15%
higher than prior year and 1% higher than prior month.
- 419 annualized average cleared DARTs
per client account.
- Average commission per cleared client
order of $4.11 including exchange, clearing and regulatory fees.
Key products:
June 2016 Average Commission per
Average Cleared Client Order Order
Size Stocks $2.27 1,667 shares Equity Options $6.19 8.6
contracts Futures $6.67 3.8 contracts
Futures include options on futures. We
estimate exchange, clearing and regulatory fees to be 57% of the
futures commissions.
Changes in the composition of the “GLOBAL” currency exposure
management unit
The Company actively manages its global currency exposure by
maintaining its equity in proportion to a defined basket of
currencies, which it refers to as the "GLOBAL". Approximately half
of the firm’s equity is denominated in currencies other than the
U.S. dollar. The composition of the GLOBAL is based on the relative
importance of the constituent currencies in the Company’s business
and the world economy. As a result of a periodic assessment, and in
light of the increasing importance of China to our company’s
business, the Company has determined to add the Chinese renminbi
(CNH), remove the South Korean won (KRW) and Brazilian real (BRL)
components, and realign the relative weights of the U.S. dollar
(USD) and Japanese yen (JPY) components to better reflect the
global diversification of its businesses.
The new composition contains 15 currencies, one fewer than the
prior composition. The Company currently transacts business and is
required to manage balances in each of these 15 currencies. The new
composition is effective as of the close of business on June 30,
2016 and the conversion to the new targeted currency holdings is
taking place over a short time period.
The table below displays the component changes in detail.
GLOBAL NEW
CHANGE 6/30/2016 GLOBAL
GLOBAL in % of GLOBAL GLOBAL in
% of % of Currency
FX Rates Composition
USD Equiv. Comp.
Composition USD Equiv.
Comp. Comp. USD 1.0000 0.41
0.410 41.9% 0.45 0.450 45.9% 4.1% EUR 1.1107 0.17 0.189 19.3% 0.17
0.189 19.3% 0.0% JPY 0.0097 10.00 0.097 9.9% 8.00 0.078 7.9% -2.0%
GBP 1.3312 0.03 0.040 4.1% 0.03 0.040 4.1% 0.0% HKD 0.1289 0.26
0.034 3.4% 0.26 0.034 3.4% 0.0% CAD 0.7738 0.04 0.031 3.2% 0.04
0.031 3.2% 0.0% CHF 1.0242 0.03 0.031 3.1% 0.03 0.031 3.1% 0.0% INR
0.0148 2.00 0.030 3.0% 2.00 0.030 3.0% 0.0% CNH 0.1499 0.00 0.000
0.0% 0.19 0.028 2.9% 2.9% AUD 0.7451 0.03 0.022 2.3% 0.03 0.022
2.3% 0.0% MXN 0.0547 0.30 0.016 1.7% 0.30 0.016 1.7% 0.0% SEK
0.1182 0.09 0.011 1.1% 0.09 0.011 1.1% 0.0% SGD 0.7423 0.01 0.007
0.8% 0.01 0.007 0.8% 0.0% NOK 0.1196 0.06 0.007 0.7% 0.06 0.007
0.7% 0.0% DKK 0.1493 0.04 0.006 0.6% 0.04 0.006 0.6% 0.0% BRL
0.3112 0.08 0.025 2.5% 0.00 0.000 0.0% -2.5% KRW 0.0009 28.00 0.024
2.5% 0.00 0.000 0.0% -2.5%
Total GLOBALS,
measured in USD $ 0.980 100.0%
$ 0.980 100.0%
0.0%
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 June, clients’ total cost of executing and clearing U.S.
Reg.-NMS stocks through IB was 0.5 basis points of trade money1, as
measured against a daily VWAP2 benchmark (0.6 basis point for the
rolling twelve months).
Interactive
Brokers Clients' Reg.-NMS Stock Trading Expense Detail All
amounts are in millions, except %
Previous Jul '15 Aug
'15 Sep '15 Oct
'15 Nov '15 Dec
'15 Jan '16 Feb
'16 Mar '16 Apr
'16 May '16 Jun
'16 12 Months #1a - Number of
orders Buys 2.20 2.31 2.08 2.29 1.93 2.03 2.27 2.25 2.18 2.09
2.06
2.05 25.74 Sells 2.10 2.27 1.97
2.19 1.79 1.91 2.15 2.13 2.07
1.98 1.92
1.90 24.38
Total 4.30 4.58 4.05 4.48 3.72 3.94 4.42 4.38 4.25 4.07 3.98
3.95 50.12 #1b - Number of shares purchased
or sold Shares bought 1,303 1,432 1,190 1,252 1,144 1,276 1,434
1,422 1,405 1,257 1,254
1,344 15,713 Shares sold 1,281
1,484 1,191 1,227 1,089 1,240
1,465 1,420 1,385 1,256 1,229
1,307 15,574
Total 2,584 2,916 2,381
2,479 2,233 2,516 2,899 2,842 2,790 2,513 2,483
2,651
31,287 #2 - Trade money including price,
commissions and fees 2a Buy money $58,413 $63,316 $54,503
$57,085 $44,082 $48,552 $54,502 $48,708 $44,510 $41,354 $40,467
$45,068 $600,560 2b Sell money $58,319 $65,756
$53,890 $56,526 $43,093 $47,724 $55,194
$49,340 $43,623 $41,052 $40,435
$44,503 $599,455
2c Total $116,732 $129,072
$108,393 $113,611 $87,175 $96,276 $109,696 $98,048 $88,133 $82,406
$80,902
$89,571 $1,200,015 #3 - Trade value
at Daily VWAP 3a Buy value $58,382 $63,303 $54,477 $57,064
$44,069 $48,533 $54,486 $48,703 $44,506 $41,357 $40,465
$45,068 $600,413 3b Sell value $58,301 $65,767
$53,875 $56,492 $43,085 $47,718 $55,180
$49,341 $43,624 $41,058 $40,436
$44,507 $599,384
3c Total $116,683 $129,070
$108,352 $113,556 $87,154 $96,251 $109,666 $98,044 $88,130 $82,415
$80,901
$89,575 $1,199,797 #4 - Total trade
expense, including commissions and fees, relative to Daily VWAP
4a Buys (2a-3a) $30.8 $12.8 $25.5 $21.3 $12.8 $19.1 $15.7 $4.8 $3.8
($3.3) $1.5
($0.3) $144.5 4b Sells (3b-2b) ($17.6)
$11.0 ($15.2) ($33.6) ($8.0) ($6.3)
($13.9) $0.7 $1.5 $6.2 $0.7
$4.5 ($70.0)
4c Total trade expense
$13.2 $23.8 $10.3 ($12.3) $4.8 $12.8 $1.8 $5.5 $5.3 $2.9 $2.2
$4.2 $74.5 Trade expense as percentage of
trade money 4c/2c 0.011% 0.018% 0.010% -0.011% 0.006%
0.013% 0.002% 0.006% 0.006% 0.004% 0.003%
0.005%
0.006% #5 - Trade expense categories 5a Total
commissions & fees $10.5 $11.7 $9.6 $10.0 $9.0 $9.8 $11.5 $11.3
$11.1 $10.0 $9.9
$10.7 $125.1 5b Execution cost
(4c-5a) $2.7 $12.1 $0.7 ($22.3) ($4.2) $3.0 ($9.7) ($5.8)
($5.8) ($7.1) ($7.7)
($6.5) ($50.6) #6 -
Trade expense categories as percentage of trade money Total
commissions & fees (5a/2c) 0.009% 0.009% 0.009% 0.009% 0.011%
0.010% 0.011% 0.012% 0.013% 0.013% 0.013%
0.012%
0.010% Execution cost (5b/2c) 0.002% 0.009% 0.001% -0.020%
-0.005% 0.003% -0.009% -0.006% -0.007% -0.009% -0.010%
-0.007% -0.004% Net Expense to IB Clients
0.011% 0.018% 0.010% -0.011% 0.006% 0.013% 0.002% 0.006% 0.006%
0.004% 0.003%
0.005% 0.006%
The above illustrates that the rolling twelve months’ average
all-in cost of a client U.S. Reg.-NMS stock trade was 0.6 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160701005737/en/
For Interactive Brokers Group, Inc.Investors:Nancy
Stuebe, 203-618-4070orMedia:Caitlin Duffy, 203-913-1369
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