Delaware
|
001-33440
|
30-0390693
|
(State or Other Jurisdiction
of Incorporation)
|
(Commission File Number)
|
(I.R.S. Employer Identification Number)
|
o |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
o |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
o |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
o |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
(d)
|
Exhibits.
|
99.1
|
Press Release dated October 20, 2015.
|
INTERACTIVE BROKERS GROUP, INC.
|
||
By:
|
/s/ Paul J. Brody | |
Name:
|
Paul J. Brody
|
|
Title:
|
Chief Financial Officer, Treasurer
and Secretary
|
99.1
|
Press Release dated October 20, 2015.
|
·
|
61% Electronic Brokerage pretax profit margin for this quarter, down from 63% in the year-ago quarter.
|
·
|
51% Market Making pretax profit margin for this quarter, up from 14% in the year-ago quarter.
|
·
|
Customer equity grew 13% from the year-ago quarter to $62.1 billion while customer debits decreased by 9% to $15.8 billion.
|
·
|
Customer accounts increased 18% from the year-ago quarter to 322 thousand.
|
·
|
Total DARTs increased 28% from the year-ago quarter to 683 thousand.
|
·
|
Brokerage segment equity was $3.4 billion. Total equity was $5.3 billion.
|
Brokerage |
|
|||||||||||||||||
Market
|
Brokerage |
|
Non
|
Avg. Trades
|
||||||||||||||
Making
|
%
|
Cleared
|
%
|
Cleared
|
%
|
Total
|
%
|
per U.S.
|
||||||||||
Period
|
Trades
|
Change
|
Trades
|
Change
|
Trades
|
Change
|
Trades
|
Change
|
Trading Day
|
|||||||||
2012
|
60,421
|
150,000
|
16,118
|
226,540
|
904
|
|||||||||||||
2013
|
65,320
|
8%
|
173,849
|
16%
|
18,489
|
15%
|
257,658
|
14%
|
1,029
|
|||||||||
2014
|
64,530
|
-1%
|
206,759
|
19%
|
18,055
|
-2%
|
289,344
|
12%
|
1,155
|
|||||||||
3Q2014
|
17,864
|
49,636
|
4,282
|
71,782
|
1,130
|
|||||||||||||
3Q2015
|
18,696
|
5%
|
65,333
|
32%
|
5,266
|
23%
|
89,295
|
24%
|
1,395
|
|||||||||
2Q2015
|
14,852
|
58,458
|
4,060
|
77,370
|
1,228
|
|||||||||||||
3Q2015
|
18,696
|
26%
|
65,333
|
12%
|
5,266
|
30%
|
89,295
|
15%
|
1,395
|
Options
|
%
|
Futures*
|
%
|
Stocks
|
%
|
|||||||
Period
|
(contracts)
|
Change
|
(contracts)
|
Change
|
(shares)
|
Change
|
||||||
2012
|
698,140
|
98,801
|
65,872,960
|
|||||||||
2013
|
659,673
|
-6%
|
121,776
|
23%
|
95,479,739
|
45%
|
||||||
2014
|
631,265
|
-4%
|
123,048
|
1%
|
153,613,174
|
61%
|
||||||
3Q2014
|
151,768
|
29,352
|
36,040,255
|
|||||||||
3Q2015
|
179,786
|
18%
|
38,960
|
33%
|
41,999,917
|
17%
|
||||||
2Q2015
|
144,188
|
34,661
|
60,255,458
|
|||||||||
3Q2015
|
179,786
|
25%
|
38,960
|
12%
|
41,999,917
|
-30%
|
Options
|
%
|
Futures*
|
%
|
Stocks
|
%
|
|||||||
Period
|
(contracts)
|
Change
|
(contracts)
|
Change
|
(shares)
|
Change
|
||||||
2012
|
457,384
|
12,660
|
9,339,465
|
|||||||||
2013
|
404,490
|
-12%
|
18,184
|
44%
|
12,849,729
|
38%
|
||||||
2014
|
344,741
|
-15%
|
15,668
|
-14%
|
12,025,822
|
-6%
|
||||||
3Q2014
|
81,395
|
3,542
|
3,137,329
|
|||||||||
3Q2015
|
95,754
|
18%
|
3,868
|
9%
|
4,458,343
|
42%
|
||||||
2Q2015
|
74,533
|
3,652
|
4,270,738
|
|||||||||
3Q2015
|
95,754
|
28%
|
3,868
|
6%
|
4,458,343
|
4%
|
Options
|
%
|
Futures*
|
%
|
Stocks
|
%
|
|||||||
Period
|
(contracts)
|
Change
|
(contracts)
|
Change
|
(shares)
|
Change
|
||||||
2012
|
240,756
|
86,141
|
56,533,495
|
|||||||||
2013
|
255,183
|
6%
|
103,592
|
20%
|
82,630,010
|
46%
|
||||||
2014
|
286,524
|
12%
|
107,380
|
4%
|
141,587,352
|
71%
|
||||||
3Q2014
|
70,373
|
25,810
|
32,902,926
|
|||||||||
3Q2015
|
84,032
|
19%
|
35,092
|
36%
|
37,541,574
|
14%
|
||||||
2Q2015
|
69,655
|
31,009
|
55,984,720
|
|||||||||
3Q2015
|
84,032
|
21%
|
35,092
|
13%
|
37,541,574
|
-33%
|
Options
|
%
|
Futures*
|
%
|
Stocks
|
%
|
|||||||
Period
|
(contracts)
|
Change
|
(contracts)
|
Change
|
(shares)
|
Change
|
||||||
2012
|
144,539
|
84,794
|
54,371,351
|
|||||||||
2013
|
180,660
|
25%
|
101,732
|
20%
|
78,829,785
|
45%
|
||||||
2014
|
225,662
|
25%
|
106,074
|
4%
|
137,153,132
|
74%
|
||||||
3Q2014
|
56,824
|
25,559
|
31,814,664
|
|||||||||
3Q2015
|
68,018
|
20%
|
34,635
|
36%
|
36,475,917
|
15%
|
||||||
2Q2015
|
57,867
|
30,717
|
55,144,248
|
|||||||||
3Q2015
|
68,018
|
18%
|
34,635
|
13%
|
36,475,917
|
-34%
|
Year over Year
|
3Q2015
|
3Q2014
|
% Change
|
||||
Total Accounts
|
322
|
272
|
18%
|
||||
Customer Equity (in billions) *
|
$
|
62.1
|
$
|
54.9
|
13%
|
||
Cleared DARTs
|
620
|
485
|
28%
|
||||
Total Customer DARTs
|
683
|
534
|
28%
|
||||
Cleared Customers (in $'s, except DART per account)
|
|||||||
Commission per DART
|
$
|
4.10
|
$
|
4.21
|
-3%
|
||
DART per Avg. Account (Annualized)
|
493
|
455
|
8%
|
||||
Net Revenue per Avg. Account (Annualized)
|
$
|
3,652
|
$
|
3,532
|
3%
|
||
Consecutive Quarters
|
3Q2015
|
2Q2015
|
% Change
|
||||
Total Accounts
|
322
|
310
|
4%
|
||||
Customer Equity (in billions) *
|
$
|
62.1
|
$
|
66.0
|
-6%
|
||
Cleared DARTs
|
620
|
565
|
10%
|
||||
Total Customer DARTs
|
683
|
616
|
11%
|
||||
Cleared Customers (in $'s, except DART per account)
|
|||||||
Commission per DART
|
$
|
4.10
|
$
|
4.31
|
-5%
|
||
DART per Avg. Account (Annualized)
|
493
|
469
|
5%
|
||||
Net Revenue per Avg. Account (Annualized)
|
$
|
3,652
|
$
|
3,749
|
-3%
|
Three Months
|
Nine Months
|
||||||||||||
Ended September 30,
|
Ended September 30,
|
||||||||||||
2015
|
2014
|
2015
|
2014
|
||||||||||
(in millions)
|
|||||||||||||
Electronic Brokerage
|
Net revenues (1)
|
$
|
300
|
$
|
245
|
$
|
878
|
$
|
691
|
||||
Non-interest expenses
|
116
|
90
|
455
|
269
|
|||||||||
Income before income taxes
|
$
|
184
|
$
|
155
|
$
|
423
|
$
|
422
|
|||||
Pre-tax profit margin
|
61%
|
63%
|
48%
|
61%
|
|||||||||
Market Making
|
Net revenues (1)
|
$
|
90
|
$
|
49
|
$
|
229
|
$
|
231
|
||||
Non-interest expenses
|
44
|
42
|
126
|
132
|
|||||||||
Income before income taxes
|
$
|
46
|
$
|
7
|
$
|
103
|
$
|
99
|
|||||
Pre-tax profit margin
|
51%
|
14%
|
45%
|
43%
|
|||||||||
Corporate (2)
|
Net revenues (1)
|
$
|
(31)
|
$
|
(123)
|
$
|
(189)
|
$
|
(87)
|
||||
Non-interest expenses
|
(3)
|
(1)
|
6
|
2
|
|||||||||
Income (loss) before income taxes
|
$
|
(28)
|
$
|
(122)
|
$
|
(195)
|
$
|
(89)
|
|||||
Total
|
Net revenues (1)
|
$
|
359
|
$
|
171
|
$
|
918
|
$
|
835
|
||||
Non-interest expenses
|
157
|
131
|
587
|
403
|
|||||||||
Income before income taxes
|
$
|
202
|
$
|
40
|
$
|
331
|
$
|
432
|
|||||
Pre-tax profit margin
|
56%
|
23%
|
36%
|
52%
|
(1)
|
To provide meaningful comparisons, all prior period amounts have been revised for the changes in presentation of currency translation classifications.
|
|||||||||||||||
(2)
|
Corporate includes corporate related activities as well as inter-segment eliminations.
|
Three Months
|
Nine Months
|
|||||||||||||
Ended September 30,
|
Ended September 30,
|
|||||||||||||
2015
|
2014
|
2015
|
2014
|
|||||||||||
(in millions, except share and per share data)
|
||||||||||||||
Revenues:
|
||||||||||||||
Trading gains (1)
|
$
|
87
|
$
|
42
|
$
|
216
|
$
|
211
|
||||||
Commissions and execution fees
|
167
|
133
|
473
|
394
|
||||||||||
Interest income (1)
|
122
|
123
|
356
|
306
|
||||||||||
Other income (loss) (1)
|
(1)
|
(102)
|
(78)
|
(25)
|
||||||||||
Total revenues
|
375
|
196
|
967
|
886
|
||||||||||
Interest expense
|
16
|
25
|
49
|
51
|
||||||||||
Total net revenues
|
359
|
171
|
918
|
835
|
||||||||||
Non-interest expenses:
|
||||||||||||||
Execution and clearing
|
63
|
52
|
177
|
158
|
||||||||||
Employee compensation and benefits
|
56
|
49
|
171
|
156
|
||||||||||
Occupancy, depreciation and amortization
|
12
|
9
|
33
|
29
|
||||||||||
Communications
|
6
|
6
|
19
|
18
|
||||||||||
General and administrative
|
13
|
14
|
42
|
40
|
||||||||||
Customer bad debt
|
7
|
1
|
145
|
2
|
||||||||||
Total non-interest expenses
|
157
|
131
|
587
|
403
|
||||||||||
Income before income taxes
|
202
|
40
|
331
|
432
|
||||||||||
Income tax expense
|
20
|
9
|
37
|
39
|
||||||||||
Net income
|
182
|
31
|
294
|
393
|
||||||||||
Net income attributable to noncontrolling interests
|
160
|
28
|
262
|
356
|
||||||||||
Net income available for common stockholders
|
$
|
22
|
$
|
3
|
$
|
32
|
$
|
37
|
||||||
Earnings per share :
|
||||||||||||||
Basic
|
$
|
0.35
|
$
|
0.06
|
$
|
0.53
|
$
|
0.67
|
||||||
Diluted
|
$
|
0.35
|
$
|
0.05
|
$
|
0.52
|
$
|
0.65
|
||||||
Weighted average common shares outstanding:
|
||||||||||||||
Basic
|
62,458,655
|
57,099,052
|
60,152,525
|
55,956,615
|
||||||||||
Diluted
|
64,028,731
|
58,220,070
|
61,646,928
|
57,196,113
|
||||||||||
Comprehensive income:
|
||||||||||||||
Net income available for common stockholders
|
$
|
22
|
$
|
3
|
$
|
32
|
$
|
37
|
||||||
Other comprehensive income:
|
||||||||||||||
Cumulative translation adjustment, before income taxes
|
(8)
|
(11)
|
(5)
|
(9)
|
||||||||||
Income taxes related to items of other comprehensive income
|
-
|
-
|
-
|
-
|
||||||||||
Other comprehensive income (loss), net of tax
|
(8)
|
(11)
|
(5)
|
(9)
|
||||||||||
Comprehensive income (loss) available for common stockholders
|
$
|
14
|
$
|
(8)
|
$
|
27
|
$
|
28
|
||||||
Comprehensive income attributable to noncontrolling interests:
|
||||||||||||||
Net income attributable to noncontrolling interests
|
$
|
160
|
$
|
28
|
$
|
262
|
$
|
356
|
||||||
Other comprehensive income - cumulative translation adjustment
|
(44)
|
(66)
|
(29)
|
(54)
|
||||||||||
Comprehensive income (loss) attributable to noncontrolling interests
|
$
|
116
|
$
|
(38)
|
$
|
233
|
$
|
302
|
(1)
|
To provide meaningful comparisons, all prior period amounts have been revised for the changes in presentation of currency translation classifications.
|
September 30,
2015
|
December 31,
2014
|
|||||||||
(in millions) | ||||||||||
Assets
|
||||||||||
Cash and cash equivalents
|
$
|
1,588
|
$
|
1,269
|
||||||
Cash and securities - segregated for regulatory purposes
|
20,911
|
15,404
|
||||||||
Securities borrowed
|
3,384
|
3,660
|
||||||||
Securities purchased under agreements to resell
|
215
|
386
|
||||||||
Trading assets, at fair value
|
3,840
|
3,934
|
||||||||
Receivables from customers, net of allowance
|
15,879
|
17,051
|
||||||||
Receivables from brokers, dealers and clearing organizations
|
859
|
1,131
|
||||||||
Other assets
|
550
|
550
|
||||||||
Total assets
|
$
|
47,226
|
$
|
43,385
|
||||||
Liabilities and equity
|
||||||||||
Liabilities
|
||||||||||
Short-term borrowings
|
$
|
4
|
$
|
34
|
||||||
Securities loaned
|
2,724
|
3,199
|
||||||||
Trading liabilities - financial instruments sold but not yet purchased, at fair value
|
3,052
|
2,561
|
||||||||
Other payables:
|
||||||||||
Customers
|
35,315
|
31,796
|
||||||||
Brokers, dealers and clearing organizations
|
454
|
234
|
||||||||
Other payables
|
395
|
377
|
||||||||
36,164
|
32,407
|
|||||||||
Total liabilities | 41,944 | 38,201 | ||||||||
Equity
|
||||||||||
Stockholders' equity
|
841
|
766
|
||||||||
Noncontrolling interests
|
4,441
|
4,418
|
||||||||
Total equity
|
5,282
|
5,184
|
||||||||
Total liabilities and equity
|
$
|
47,226
|
$
|
43,385
|
||||||
September 30, 2015
|
December 31, 2014
|
|||||||||
Ownership of IBG LLC Membership Interests
|
Interests
|
%
|
Interests
|
%
|
||||||
IBG, Inc.
|
63,739,271
|
15.7%
|
58,473,186
|
14.5%
|
||||||
Noncontrolling interests (IBG Holdings LLC)
|
343,290,504
|
84.3%
|
346,062,282
|
85.5%
|
||||||
Total IBG LLC membership interests
|
407,029,775
|
100.0%
|
404,535,468
|
100.0%
|
||||||
Three Months
|
Nine Months
|
|||||||||||
Ended September 30,
|
Ended September 30,
|
|||||||||||
2015
|
2014
|
2015
|
2014
|
|||||||||
(in millions, except share and per share data)
|
||||||||||||
Comprehensive income (loss) available for common stockholders, net of tax
|
$
|
14
|
$
|
(8)
|
$
|
27
|
$
|
28
|
||||
Comprehensive income (loss) per share:
|
||||||||||||
Basic
|
$
|
0.23
|
$
|
(0.13)
|
$
|
0.45
|
$
|
0.51
|
||||
Diluted
|
$
|
0.23
|
$
|
(0.13)
|
$
|
0.44
|
$
|
0.50
|
||||
Weighted average common shares outstanding:
|
||||||||||||
Basic
|
62,458,655
|
57,099,052
|
60,152,525
|
55,956,615
|
||||||||
Diluted
|
64,028,731
|
58,220,070
|
61,646,928
|
57,196,113
|