Interactive Brokers Tweaks How it Reports its Activity Statement

Summary:
• Interactive Brokers, a leading company in the trading and investment industry, announced minor changes in how it reports

Interactive Brokers, a leading company in the trading and investment industry, announced minor changes in how it reports its statements and reports. 

In a statement, the company said that it added Event Contracts to its activity statement. As part of this change, client fees section will now include trades with non-zero net commissions. 

Another change is that the ActionID field section has been added to activity flex to allow simple mapping of corporate actions like dividends and withholding tax. The company will also add carbon credit offsets to its activity statement and activity flex.

These changes at a time when Interactive Brokers is seeing a challenging period as the financial market changes. Its recent statement showed that the number of total accounts rose from 1.95 million in July to 1.98 million in August. At the same time, the Daily Average Revenue Trades (DARTs) rose from $1,823 to 1,968.

In the second-quarter, Interactive Brokers said that its net revenue dropped to $656 million from the previous $754 million. Its income before taxes also dropped to $392 million from the previous $541 million.

Commission revenue rose by 5% to $322 million while its net interest increased by 27% to $348 million. Other income dropped to a loss of $57 million while total equity rose to $10.6 billion. Interactive Brokers stock price has jumped by 30% from the lowest level this year.