context you to of going everyone you, take we'll release some then then earnings Thank for my questions. usual our I'm dialing format and comments into Thank review the follow the environment results call. in. numbers the and within will Welcome as put the our Nancy. to current
in VIX the customer a in in well volumes results and August again in options metrics, as average sell VIX, they the in active stock year-over-year intra-quarter contributed measured trading to to volume. This XX.X% this erratic and clear contract with in with increases decreases rose quarter. average reflected operating some fairly a Starting in a by masked is volatility XX% moderate ago the quarter, Once environment, a volatility volume the recovered September. XX.X% low volatility share July again futures year mixed and from variability, increase declined
in led by As Kong. Hong stocks those usual, were price low
contributed exchange growth Foreign down which Total as well. to volume to XX%, end. was dollar customer at up reached quarter billion equity of $XXX.X accounts XX% XXX,XXX,
continued the tailwind DARTs sizes quarter $X.XX last average segments. In versus smaller overall our average that quarterly DART over growth, up fell XXX,XXX, were commission new year most in our cleared this from With on X% featured product trade total account last mix year. XX% to a per product
X July twice widened quarter Federal basis to the over times by Moving after quarter net margin course and in XXXX. Reserve table, interest raising to rates the our from reduced X.XX% points interest margin The them of net our September, past XXXX. X.XX% third of in XX this
rates effect quarters. were over see these entire full effect period, the the we not of As should them the in coming for
The gathering interest is because funds interest customer customer Fed rates cash to in our which with despite rate, higher balances. along decline basis, larger to market components from in average On Fed basis, funds net We net pegged income true a interest primarily the on interest customer quarter, higher continued success income net can year-over-year related this sensitive a increase to balances. But sequential the benchmarks, rate somewhat income. assets lead due in believe same average interest rising benchmark from forward. credit our generally our contributions to asset rose The are going leads our is was
flat our the our have income fixed duration loss of portfolio a U.S. mark-to-market holdings As of yield million on $X in inverted, modest we to maintained short this and a treasuries. recorded remained we curve quarter
market hold mark reminder, to maturity plan to securities in require banks these rules unlike our us reporting. GAAP to them financial as a to brokers we As and
Deposit billion. significant the Our Suite margin. contributors Bank net $X.X securities lending FDIC our Segregated interest continues to to grow and Program cash management Insured were most reaching
and last higher by Driven year balances cash XX% prior the segregated interest quarter. grew funds over customer rate versus cash average higher Fed our income year,
on cash funds Fed the to rates. As factors cause yield two our a reminder, the change differ that can in change a are there segregated in from
of our our dollars; about under there and change U.S. yield Typically the currently even reinvesting First, in new an would XX of not duration days, in investments time XX% funds lag follow not in rate interest are immediately. customer average some Fed a second, effective with is rates. in our credits
is cash decrease segregated several year a in income our a the function hard-to-borrow ago rose increase in fell investors lending for as satisfied the of the from The short. Securities margin high loans. quarter, that and we demand growth both XX% interest accounts names in
borrowing Average funds balances quarter interest declined declined year-on-year third environment of Offset Fed higher rates stronger observed benchmark demand we in quarter. X%. margin loan year's last somewhat this by market margin from income the
in which point estimate of net as have typically therefore in from earnings or the the would Market yields the that expectations built these in cuts an we of calculation, $XX of rate rates hikes been XX rise invest. of higher rate. XX a run into fall or basis decrease change next result our our to are the of rates. and yearly of the in in rate unexpected to impact changes of Therefore, for unanticipated we attempt million income instruments. expect lower instruments already isolate into or respectively, or the basis Now our separate prices in point increase We the the rates baked impact next impact interest
for over $XXX the Brokerage XX% into turned treasury was performance margin modest million, in volatility $XXX quarter, portfolio of a segments, year. pre-tax XX%. XX% revenues was income up for Turning million excluding income pre-tax investment Pre-tax last marks Net up to Electronic environment. are and record on $XXX a million our the
and were Execution $XX clearing XX%. up expenses million,
in since fee the been have year, execution and rebate $X the from As XX% increase program clearing line a OCC revenue. million commission we it would they last a note, a from discontinued. with Without have up received in
a support secondary and with the expenses million, brokerage were Higher growing and increased driven to brokerage Fixed were and business factor. up $XXX XX%, by benefits compliance legal hiring expenses. our in compensation line
Customer to gains bad the making customer continue debt as retain markets consists of Market of million previous which will $X net remainder able million. U.S., the facilitation revenues business, as well which expense three some to and interest was was today a million million, as we we was the Net were making $X bulk losses. negative outside we Market the are income. $X $XX evaluate. of pre-tax were trading income recover
The investments the strategy. effects currency the and corporate our of reflects diversification our segment strategic results of
$XX quarter, For recorded mark-to-market in from $XX the to-date the the we loss investment Brokers on have million. net our this Like of we third million. gain of investment, Tiger recognized
will our this to variability corporate as we earnings mark segment may this each lead hold position. to investment further in which market as We quarter, continue for long to
reflect of XX best we the scope currency diversification carry to the business. our effects, to proportion our international basket As equity of a GLOBAL currencies, call in to we
dollar net which earnings from our about $XX reported other quarter, U.S. million and of the against $XX income. major incurred in million strengthened is other loss million, of comprehensive all currencies this is As strategy a included we $XX as
We reported other in estimate currency as income in reported and per effects from OCI. share decrease earnings the with to $X.XX, comprehensive be $X.XX $X.XX total
and non-operating to include are treasury Turning million, Non-operating investments million on ago, loss $XX $XXX $XX XX% on year statement, items X% year. loss for up a our last Brokers our million marks. a were over million from Tiger $XXX million marking net to $X on net the our revenues up strategy, revenues loss currency including market adjusted a income items
in most XX% significantly and in higher somewhat rose with lower futures trade in revenue sizes volume options offset Commission on stocks categories. by smaller volumes product
DARTs smaller trade decrease across reflect As per our earlier, $X.XX noted we the in small average overall sizes product its segments. commission most cleared
Of the making our produced interest corporate income $XXX $X million market $XXX and brokerage million, million in remainder. net
The Brokers and fees income Other slightly loss $XX quarter. strategy Tiger revenues year and Treasury of GLOBAL showed marks-to-market other we Tiger investment lower in includes GLOBAL income fees and other areas investments, of were losses currency returned our the income marks ago than which million. on a Brokers other and that offsetting treasury and our with receive, a while primarily
when was the up XX% higher XX% $XXX in increase and clearing several last rebate excluding that Non-interest and million including quarter costs support growing XX% million of last year. expenses fee compensation were in our for from costs up increase $X we a year. across business. employee execution spread categories, cleaning the The G&A were received And brokerage
increase At total quarter the end our headcount stood at total. year XX% over X,XXX, ago
aggressively client in have We most and development. compliance, hiring the areas systems services been of
opportunities component expenses see business to our these XX% further; accounts fixed compensation fixed reflect net of the we not largest percentage employee do The In increase for and a general, automate benefits, of our we expand or expenses seek revenues. we have it to that non-interest achieve.
was previously represented of a and X% pre-tax items income and a mentioned up non-operating income XX% I and represented was million XX% XX% margin. the million, for $XXX pre-tax adjusted margin Pre-tax $XXX pre-tax up
the $X.XX for the $X.XX same all per which diluted $X.XX period been year Comprehensive versus versus quarter the from items, the share And without $X.XX for $X.XX includes same in share, Diluted have year. would basis. versus last earnings were the last quarter on XXXX. share impact per effects per currency earnings for diluted $X.XX non-operating earnings were
This leads split million mostly follows: is the shareholders $XXX the of earnings, income which on taxes income of which foreign before are our Starting on statement operating $XXX or deduct investors XX% better and our non-controlling our between reported by we for taxes To interest. attributable companies income paid interest million $XXX taxes. that non-controlling income million is understand $X million, as help the reported public with
public available income not we of or on paid by but our income shareholders, paid million, After it's this company. of remaining million see expense reported the our million million our as on of reported is you see plus non-GAAP this the company statement $XX The operating public XX% million is common for a stockholders by deduct consists for company the is the million net out income the $XX $XX million measure, The statement. $X $XX $XX income tax available on taxes on income statement. you $XX
balance sheet, with the leverage. it highly to Turning remains liquid low
well to to long and debt. to carry We term strength We as capital extremely order balance ample our of capital we take hold advantage the have capitalized opportunities growth. the are in as continue And well support emphasize excess and depth of sheet. no to our
billion, year, $XX of some taking to we've attracting fund the will were mentioned debits show figure opportunistic who this institutional swings margin success in XX, hedge more last more in customers our in on saw decrease XX% September as likely risk we the from environment a and At on due leverage. past, the are
business. supports margin lending Our conservative sheet balance growing worldwide the management
Our billion consolidated in brokerage, was in facilitation market in $X.X $X.X and at equity making XXXX September capital remainder XX, billion, was activities, held and the corporate. $X.X customer billion
questions. I'll the call we back moderator can and take turn some over to Now the
