Interactive Brokers Group, Inc. (NASDAQ GS: IBKR) an automated
global electronic broker, today reported its Electronic Brokerage
monthly performance metrics for March.
Brokerage highlights for the month included:
- 649 thousand Daily Average Revenue
Trades (DARTs), 1% lower than prior year and 4% lower than prior
month.
- Ending client equity of $96.8 billion,
38% higher than prior year and 4% higher than prior month.
- Ending client margin loan balances of
$20.9 billion, 39% higher than prior year and 7% higher than prior
month.
- Ending client credit balances of $43.8
billion, 16% higher than prior year and 1% higher than prior
month.
- 406 thousand client accounts, 18%
higher than prior year and 2% higher than prior month.
- 375 annualized average cleared DARTs
per client account.
- Average commission per cleared client
order of $4.12 including exchange, clearing and regulatory fees.
Key products:
March 2017 Average Commission
per Average Cleared Client
Order Order Size Stocks $2.43 2,623 shares Equity
Options $6.21 8.5 contracts Futures $6.80 3.9 contracts
Futures include options on futures. We estimate exchange,
clearing and regulatory fees to be 57% of the futures
commissions.
Other financial information for Interactive Brokers
Group:
- Mark to market on U.S. government
securities portfolio1 was a loss of $1.8 million year to date.
- GLOBAL2: The value of the GLOBAL,
reported in U.S. dollars, increased by 0.47% in March. Year to
date, the value of the GLOBAL increased by 1.27%.
- In light of the Company’s decision to
discontinue options market making activities globally, the Company
has determined to realign the relative weights of the U.S. dollar
versus the other currency components to better reflect the global
diversification of its businesses going forward. The new
GLOBAL composition, effective at the close of business on March
31:
GLOBAL
NEW CHANGE 3/31/2017
GLOBAL GLOBAL in % of GLOBAL
GLOBAL in % of % of
Currency FX Rates
Composition USD
Equiv. Comp.
Composition USD
Equiv. Comp.
Comp. USD 1.0000 0.45 0.450 46.8% 0.68 0.680
70.7% 23.9% EUR 1.0655 0.17 0.181 18.8% 0.09 0.096 10.0% -8.9% JPY
0.0090 8.00 0.072 7.5% 4.41 0.040 4.1% -3.4% GBP 1.2550 0.03 0.038
3.9% 0.02 0.025 2.6% -1.3% HKD 0.1287 0.26 0.033 3.5% 0.14 0.018
1.9% -1.6% CAD 0.7508 0.04 0.030 3.1% 0.02 0.015 1.6% -1.6% CHF
0.9971 0.03 0.030 3.1% 0.02 0.020 2.1% -1.0% INR 0.0154 2.00 0.031
3.2% 1.10 0.017 1.8% -1.4% CNH 0.1455 0.19 0.028 2.9% 0.10 0.015
1.5% -1.4% AUD 0.7629 0.03 0.023 2.4% 0.02 0.015 1.6% -0.8% MXN
0.0534 0.30 0.016 1.7% 0.17 0.009 0.9% -0.7% SEK 0.1115 0.09 0.010
1.0% 0.05 0.006 0.6% -0.5% SGD 0.7157 0.01 0.007 0.7% 0.00 0.000
0.0% -0.7% NOK 0.1163 0.06 0.007 0.7% 0.03 0.003 0.4% -0.4% DKK
0.1432 0.04 0.006 0.6% 0.02 0.003 0.3% -0.3%
Total GLOBALs, measured in USD $ 0.961
100.0% $ 0.961
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 March, clients’ total cost of
executing and clearing U.S. Reg.-NMS stocks through IB was 1.2
basis point of trade money3, as measured against a daily VWAP4
benchmark (0.7 basis point for the rolling twelve months).
Interactive Brokers Clients' Reg.-NMS Stock Trading Expense
Detail All
amounts are in millions, except %
Previous Apr '16
May '16 Jun '16
Jul '16 Aug '16
Sep '16 Oct '16
Nov '16 Dec '16
Jan '17 Feb '17
Mar '17 12 Months #1a -
Number of orders Buys 2.09 2.06 2.05 1.79 2.01 2.04 1.95 2.29
1.92 1.99 2.03
2.33 24.55 Sells 1.98 1.92 1.90
1.66 1.87 1.90 1.79 2.13
1.77 1.82 1.85
2.13 22.72
Total 4.07 3.98 3.95 3.45 3.88 3.94 3.74 4.42 3.69 3.81 3.88
4.46 47.27 #1b - Number of shares purchased
or sold Shares bought 1,257 1,254 1,344 1,088 1,234 1,254 1,156
1,415 1,220 1,183 1,201
1,456 15,061 Shares sold 1,256
1,229 1,307 1,071 1,201 1,223
1,126 1,391 1,186 1,149 1,166
1,430 14,736
Total 2,513 2,483 2,651
2,159 2,435 2,477 2,282 2,806 2,406 2,332 2,367
2,886
29,797 #2 - Trade money including price,
commissions and fees 2a Buy money $41,354 $40,467 $45,068
$36,938 $39,945 $45,001 $39,957 $46,215 $38,685 $37,640 $39,001
$45,935 $496,206 2b Sell money $41,052 $40,435
$44,503 $36,371 $38,793 $43,886 $38,564
$45,536 $37,072 $37,283 $38,352
$44,595 $486,442
2c Total $82,406 $80,902
$89,571 $73,309 $78,738 $88,887 $78,521 $91,751 $75,757 $74,923
$77,353
$90,530 $982,648 #3 - Trade value
at Daily VWAP 3a Buy value $41,357 $40,465 $45,068 $36,935
$39,942 $45,001 $39,951 $46,220 $38,679 $37,636 $39,002
$45,927 $496,183 3b Sell value $41,058 $40,436
$44,507 $36,371 $38,800 $43,893 $38,561
$45,543 $37,072 $37,284 $38,361
$44,598 $486,484
3c Total $82,415 $80,901
$89,575 $73,306 $78,742 $88,894 $78,512 $91,763 $75,751 $74,920
$77,363
$90,526 $982,667 #4 - Total trade
expense, including commissions and fees, relative to Daily VWAP
4a Buys (2a-3a) ($3.3) $1.5 ($0.3) $2.8 $2.7 $0.5 $6.6 ($4.4) $5.9
$4.4 ($1.1)
$7.6 $22.8 4b Sells (3b-2b) $6.2 $0.7
$4.5 ($0.5) $6.9 $7.5 ($3.0)
$6.7 $0.2 $0.4 $9.4
$3.3
$42.3
4c Total trade expense $2.9 $2.2 $4.2 $2.3 $9.6
$8.0 $3.6 $2.3 $6.1 $4.8 $8.3
$10.8 $65.1
Trade expense as percentage of trade money 4c/2c
0.004% 0.003% 0.005% 0.003% 0.012% 0.009% 0.005% 0.003% 0.008%
0.006% 0.011%
0.012% 0.007% #5 - Trade
expense categories 5a Total commissions & fees $10.0 $9.9
$10.7 $8.9 $9.8 $9.9 $9.1 $11.0 $9.5 $9.3 $9.5
$11.4
$119.0 5b Execution cost (4c-5a) ($7.1) ($7.7) ($6.5)
($6.6) ($0.2) ($1.9) ($5.5) ($8.7) ($3.4) ($4.6) ($1.2)
($0.6) ($54.0) #6 - Trade expense
categories as percentage of trade money Total commissions &
fees (5a/2c) 0.013% 0.013% 0.012% 0.012% 0.012% 0.011% 0.012%
0.012% 0.013% 0.012% 0.012%
0.013% 0.012% Execution
cost (5b/2c) -0.009% -0.010% -0.007% -0.009%
0.000% -0.002% -0.007% -0.009%
-0.005% -0.006% -0.001%
-0.001%
-0.005% Net Expense to IB Clients 0.004% 0.003%
0.005% 0.003% 0.012% 0.009% 0.005% 0.003% 0.008% 0.006% 0.011%
0.012% 0.007%
The above illustrates that the rolling twelve months’ average
all-in cost of a client U.S. Reg.-NMS stock trade was 0.7 basis
point.
_________________
Note 1: Marked to market gains and losses on investments
in U.S. government securities and associated hedges are included in
Other Income. In the general course of business we hold these
investments to maturity. As a result, accumulated marked-to-market
gains or losses should converge to zero at maturity. Accounting
conventions require broker-dealers, unlike banks, to mark all
investments to market.
Note 2: In connection with our currency diversification
strategy, we have determined to base our net worth in GLOBALs, a
basket of 15 major currencies in which we hold our equity. The
total effect of the currency diversification strategy is reported
in Comprehensive Income; the components are reported in (1) Other
Income in the corporate segment and (2) Other Comprehensive Income
(“OCI”) on the balance sheet. The effect of the GLOBAL on our
comprehensive income can be estimated by multiplying the total
equity for the period by the change in the U.S. dollar value of the
GLOBAL during the same period.
Note 3: Trade money is the total amount of money clients
spent or received, including all commissions and fees.
Note 4: 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 affiliates provide automated trade execution and
custody of securities, commodities and foreign exchange around the
clock on over 120 markets in numerous countries and currencies,
from a single IB Universal AccountSM to customers worldwide. We
service individual investors, hedge funds, proprietary trading
groups, financial advisors and introducing brokers. Our four
decades of focus on technology and automation has enabled us to
equip our customers with a uniquely sophisticated platform to
manage their investment portfolios at extremely low cost relative
to the financial services industry. We strive to provide our
customers with advantageous execution prices and trading, risk and
portfolio management tools, research facilities and investment
products, all at unusually low prices, positioning them to achieve
superior returns compared to our competitors.
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/20170403006135/en/
For Interactive Brokers Group, Inc.Investors:Nancy
Stuebe, 203-618-4070orMedia:Kalen Holliday, 203-913-1369
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