DART (Daily Average Revenue Trade) is a brokerage industry metric. DART has traditionally represented the average number of trades per day that resulted in commissions or fees. However, as zero commissions became the norm in 2019, some brokerages expanded the definition of DART to include many commission-free trades.

The average daily revenue trade is usually determined by multiplying the number of securities traded times the price per share. This can be calculated by looking at an equity fabricator order report, which details how many shares were traded at what price on a given day.

Daily Average Revenue Trade, often shortened to DART, measures the average revenue generated per trading day. It is commonly used by brokers, exchanges, and trading platforms to evaluate business performance and client activity.

The metric is calculated by dividing total trading revenue over a specific period by the number of trading days in that period. Revenue may include commissions, spreads, fees, or interest earned from trades.

DART helps firms track growth trends, compare performance across different periods, and assess the impact of market conditions or new products. A rising DART usually signals higher trading volume or improved pricing efficiency, while a decline may indicate reduced activity or competitive pressure.

For traders and investors, DART provides insight into the financial health and operational strength of a trading platform.