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Robinhood joined the rest of brokerage industry by publishing monthly trading data on Monday. The start-up trounced them all — at least by one metric, CNBC reports.
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Robinhood saw 4.3 million daily average revenue trades, or DARTS, in June, the company told CNBC Monday. This is the first time the start-up has shared monthly totals. Robinhood’s debut total was higher than all of the major incumbent brokerage firms, and more than E-Trade and Charles Schwab combined.
TD Ameritrade saw the next highest monthly total at 3.84 million DARTs, according to the company’s monthly report. Interactive Brokers saw 1.8 million DARTs in June, followed by Charles Schwab and E-Trade at 1.8 million and 1.1 million, respectively.
So-called DARTs are still a key brokerage industry standard for measuring customer trades, even though they no longer charge commissions. Robinhood’s DARTs in the entire second quarter more than doubled compared to the prior three months, according to the company. All three of its top days based on trading volume, happened in June 2020.
The new disclosures, first reported by Bloomberg, come just days after Robinhood announced it was taking some customer data off of its site. A Robinhood spokesperson told CNBC it would no longer publish the number of clients holding a particular stock because that data was often “misconstrued” and “misunderstood,” and was not representative of how the customer base uses Robinhood. It also plans to restrict access to its API, which had been used by third-party sites like RobinTrack.com to show retail interest in stocks such as Virgin Galactic and Kodak.
