---
title: "With DARTs Gone, Enter DMRTs: Daily Margin Revenue Trades"
url: https://stacklist.com/card/1b8f3388-7cd2-4f22-9f78-d398cc8f50d7
source_url: "https://www.linkedin.com/pulse/darts-gone-enter-dmrts-daily-margin-revenue-trades-david-m-aferiat/?trackingId=4uQ%2FhtHsQUCTjUiozKCiuw%3D%3D"
stack: https://stacklist.com/c/education/stack/3701d09f-5d84-426c-aef0-e129d294445b
summary: "DARTS (Daily Average Revenue Trades) has been replaced by DMRTs (Direct Margin Revenue Trades) as a new operating metric following the shift to commission-free equity trading in October 2019. This metric specifically tracks margin trades that generate higher returns through interest fees, reflecting how the brokerage industry has fundamentally changed."
tags: "darts, dmrts, margin-trading, trading-metrics, commission-free, retail-brokerages, revenue-trades"
key_entities: "Trade Ideas LLC (organization), Charles Schwab (organization), Dan Mirkin (person), DMRT (Direct Margin Revenue Trade) (concept), DART (Daily Average Revenue Trades) (concept), NYC (location), Benzinga FinTech Awards (event), Users Summit (event), margin-trading (technology)"
classification: "analysis"
content_hash: "sha256:b0383bfb3d4a101d29af979365aa199c98a7a144f8018baaf5ee756b2b3e5b75"
acp_version: "0.2"
token_counts_approximate: 707
visibility: public
agent_accessible: true
status: "final"
---

# With DARTs Gone, Enter DMRTs: Daily Margin Revenue Trades

(c) 2019 Trade Ideas LLC Broker reports for October are already grappling with changes to trading metrics. It's hard work to compare those to previous reports. A few reformatted their reports, and redefined what a trade is, making comparisons difficult (if not impossible). The world changed on October 1 when retail brokerages led by Charles Schwab began charging $0 commissions for equity trading. Since that time we've met with brokers, reunited thought leaders on October 26 for our perfectly timed Users Summit , and done our research on the impacts we're already seeing. One brokerage executive summed it up as, "We're a new company, operating in a new industry." The industry needs a term that redefines what Daily Average Revenue Trades represented: average trades per day that generate commissions or fees. The need is important because, in part, operating metrics such as these enable analysts and others to compare performance across companies and assess the direction of performance trends. So we want to respectfully present a new operating metric derived from DARTs, which encapsulates all transactions, to a more specific and more profitable segment called DMRTs (Direct Margin Revenue Trade). When brokers charged a commission every trade was a revenue generator so DART's made sense. Today not all trades are the same. Margin trades are trades that are more highly sought after because margin trades offer a higher return on the customer's activity with its attendant interest fees. My partner and co-founder Dan Mirkin explains the attractiveness of investors who leverage margin accounts vs those who do not in terms of house buying with this analogy: Think of mortgages for banks. Banks like mortgages for the stream of revenue they generate much more than people who pay with cash. DMRT is the same concept. We have positioned our company to be the leading enabler in DMRT business because we specialize in pointing investors to optmized opportunities that allow them to take statistical advantage of the margin that is offered.  Take a look at stocks like BBIO and MAXR. These are names that are ignored by traditional research but are highlighted by Trade Ideas. These outside the pundit stocks are the types of opportunities that highlight margin trading as a desirable type of transaction for both the customer and the brokerage. Let us help you understand this metric and more of the changes happening within the industry and at Trade Ideas with a comment below. I'm on my way to NYC for the latest edition of the Benzinga FinTech Awards . I'm delighted to say that Trade Ideas, a previous winner, is up again for an award at this influencial event. If you are coming to the event or can meet me in the city Wednesday morning, let's connect!