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 April 19, 2016.
|
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 April 19, 2016.
|
·
|
68% Electronic Brokerage pretax profit margin for this quarter, up from 18% in the year-ago quarter.
|
·
|
34% Market Making pretax profit margin for this quarter, down from 40% in the year-ago quarter.
|
·
|
Customer equity grew 15% from the year-ago quarter to $70.1 billion while customer debits decreased by 13% to $15.0 billion.
|
·
|
Customer accounts increased 17% from the year-ago quarter to 345 thousand.
|
·
|
Total DARTs increased 15% from the year-ago quarter to 748 thousand.
|
·
|
Brokerage segment equity was $3.7 billion. Total equity was $5.7 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
|
|||||||||
2013
|
65,320
|
173,849
|
18,489
|
257,658
|
1,029
|
|||||||||||||
2014
|
64,530
|
-1%
|
206,759
|
19%
|
18,055
|
-2%
|
289,344
|
12%
|
1,155
|
|||||||||
2015
|
65,937
|
2%
|
242,846
|
17%
|
18,769
|
4%
|
327,553
|
13%
|
1,305
|
|||||||||
1Q2015
|
15,404
|
58,208
|
4,581
|
78,193
|
1,282
|
|||||||||||||
1Q2016
|
17,255
|
12%
|
71,145
|
22%
|
4,731
|
3%
|
93,131
|
19%
|
1,527
|
|||||||||
4Q2015
|
16,985
|
60,848
|
4,863
|
82,696
|
1,313
|
|||||||||||||
1Q2016
|
17,255
|
2%
|
71,145
|
17%
|
4,731
|
-3%
|
93,131
|
13%
|
1,527
|
Options
|
%
|
Futures*
|
%
|
Stocks
|
%
|
|||||||
Period
|
(contracts)
|
Change
|
(contracts)
|
Change
|
(shares)
|
Change
|
||||||
2013
|
659,673
|
121,776
|
95,479,739
|
|||||||||
2014
|
631,265
|
-4%
|
123,048
|
1%
|
153,613,174
|
61%
|
||||||
2015
|
634,388
|
0%
|
140,668
|
14%
|
172,742,520
|
12%
|
||||||
1Q2015
|
154,289
|
33,612
|
35,336,325
|
|||||||||
1Q2016
|
151,912
|
-2%
|
41,238
|
23%
|
38,350,112
|
9%
|
||||||
4Q2015
|
156,125
|
33,436
|
35,150,818
|
|||||||||
1Q2016
|
151,912
|
-3%
|
41,238
|
23%
|
38,350,112
|
9%
|
Options
|
%
|
Futures*
|
%
|
Stocks
|
%
|
|||||||
Period
|
(contracts)
|
Change
|
(contracts)
|
Change
|
(shares)
|
Change
|
||||||
2013
|
404,490
|
18,184
|
12,849,729
|
|||||||||
2014
|
344,741
|
-15%
|
15,668
|
-14%
|
12,025,822
|
-6%
|
||||||
2015
|
335,406
|
-3%
|
14,975
|
-4%
|
15,376,076
|
28%
|
||||||
1Q2015
|
83,013
|
3,408
|
2,969,719
|
|||||||||
1Q2016
|
82,345
|
-1%
|
4,344
|
27%
|
4,618,495
|
56%
|
||||||
4Q2015
|
82,106
|
4,047
|
3,677,274
|
|||||||||
1Q2016
|
82,345
|
0%
|
4,344
|
7%
|
4,618,495
|
26%
|
Options
|
%
|
Futures*
|
%
|
Stocks
|
%
|
|||||||
Period
|
(contracts)
|
Change
|
(contracts)
|
Change
|
(shares)
|
Change
|
||||||
2013
|
255,183
|
103,592
|
82,630,010
|
|||||||||
2014
|
286,524
|
12%
|
107,380
|
4%
|
141,587,352
|
71%
|
||||||
2015
|
298,982
|
4%
|
125,693
|
17%
|
157,366,444
|
11%
|
||||||
1Q2015
|
71,276
|
30,204
|
32,366,606
|
|||||||||
1Q2016
|
69,567
|
-2%
|
36,894
|
22%
|
33,731,617
|
4%
|
||||||
4Q2015
|
74,019
|
29,389
|
31,473,544
|
|||||||||
1Q2016
|
69,567
|
-6%
|
36,894
|
26%
|
33,731,617
|
7%
|
||||||
Options
|
%
|
Futures*
|
%
|
Stocks
|
%
|
|||||||
Period
|
(contracts)
|
Change
|
(contracts)
|
Change
|
(shares)
|
Change
|
||||||
2013
|
180,660
|
101,732
|
78,829,785
|
|||||||||
2014
|
225,662
|
25%
|
106,074
|
4%
|
137,153,132
|
74%
|
||||||
2015
|
244,356
|
8%
|
124,206
|
17%
|
153,443,988
|
12%
|
||||||
1Q2015
|
58,537
|
29,824
|
31,418,644
|
|||||||||
1Q2016
|
58,531
|
0%
|
36,546
|
23%
|
32,617,117
|
4%
|
||||||
4Q2015
|
59,934
|
29,030
|
30,405,179
|
|||||||||
1Q2016
|
58,531
|
-2%
|
36,546
|
26%
|
32,617,117
|
7%
|
Year over Year
|
1Q2016
|
1Q2015
|
% Change
|
||||
Total Accounts
|
345
|
296
|
17%
|
||||
Customer Equity (in billions) *
|
$
|
70.1
|
$
|
61.2
|
15%
|
||
Cleared DARTs
|
688
|
590
|
17%
|
||||
Total Customer DARTs
|
748
|
648
|
15%
|
||||
Cleared Customers (in $'s, except DART per account)
|
|||||||
Commission per DART
|
$
|
3.86
|
$
|
4.05
|
-5%
|
||
DART per Avg. Account (Annualized)
|
513
|
513
|
0%
|
||||
Net Revenue per Avg. Account (Annualized)**
|
$
|
3,709
|
$
|
3,648
|
2%
|
||
Consecutive Quarters
|
1Q2016
|
4Q2015
|
% Change
|
||||
Total Accounts
|
345
|
331
|
4%
|
||||
Customer Equity (in billions) *
|
$
|
70.1
|
$
|
67.4
|
4%
|
||
Cleared DARTs
|
688
|
582
|
18%
|
||||
Total Customer DARTs
|
748
|
641
|
17%
|
||||
Cleared Customers (in $'s, except DART per account)
|
|||||||
Commission per DART
|
$
|
3.86
|
$
|
3.81
|
1%
|
||
DART per Avg. Account (Annualized)
|
513
|
447
|
15%
|
||||
Net Revenue per Avg. Account (Annualized)**
|
$
|
3,709
|
$
|
3,239
|
14%
|
||
Three Months
|
|||||||
Ended March 31,
|
|||||||
2016
|
2015
|
||||||
(in millions)
|
|||||||
Electronic Brokerage
|
Net revenues
|
$
|
347
|
$
|
290
|
||
Non-interest expenses
|
112
|
239
|
|||||
Income before income taxes
|
$
|
235
|
$
|
51
|
|||
Pre-tax profit margin
|
68%
|
18%
|
|||||
Market Making
|
Net revenues
|
$
|
59
|
$
|
67
|
||
Non-interest expenses
|
39
|
40
|
|||||
Income before income taxes
|
$
|
20
|
$
|
27
|
|||
Pre-tax profit margin
|
34%
|
40%
|
|||||
Corporate (1)
|
Net revenues
|
$
|
83
|
$
|
(185)
|
||
Non-interest expenses
|
1
|
4
|
|||||
Income (loss) before income taxes
|
$
|
82
|
$
|
(189)
|
|||
Total
|
Net revenues
|
$
|
489
|
$
|
172
|
||
Non-interest expenses
|
152
|
283
|
|||||
Income (loss) before income taxes
|
$
|
337
|
$
|
(111)
|
|||
Pre-tax profit margin
|
69%
|
-65%
|
Three Months
|
||||||||
Ended March 31,
|
||||||||
2016
|
2015
|
|||||||
(in millions, except share and per share data)
|
||||||||
Revenues:
|
||||||||
Trading gains
|
$
|
52
|
$
|
62
|
||||
Commissions and execution fees
|
166
|
149
|
||||||
Interest income
|
145
|
108
|
||||||
Other income (loss)
|
144
|
(132)
|
||||||
Total revenues
|
507
|
187
|
||||||
Interest expense
|
18
|
15
|
||||||
Total net revenues
|
489
|
172
|
||||||
Non-interest expenses:
|
||||||||
Execution and clearing
|
62
|
55
|
||||||
Employee compensation and benefits
|
58
|
57
|
||||||
Occupancy, depreciation and amortization
|
12
|
10
|
||||||
Communications
|
7
|
6
|
||||||
General and administrative
|
13
|
16
|
||||||
Customer bad debt
|
-
|
139
|
||||||
Total non-interest expenses
|
152
|
283
|
||||||
Income (loss) before income taxes
|
337
|
(111)
|
||||||
Income tax expense
|
27
|
(2)
|
||||||
Net income (loss)
|
310
|
(109)
|
||||||
Net income (loss) attributable to noncontrolling interests
|
277
|
(96)
|
||||||
Net income (loss) available for common stockholders
|
$
|
33
|
$
|
(13)
|
||||
Earnings per share :
|
||||||||
Basic
|
$
|
0.52
|
$
|
(0.22)
|
||||
Diluted
|
$
|
0.51
|
$
|
(0.22)
|
||||
Weighted average common shares outstanding:
|
||||||||
Basic
|
63,985,477
|
58,473,348
|
||||||
Diluted
|
65,255,903
|
58,473,348
|
||||||
Comprehensive income:
|
||||||||
Net income (loss) available for common stockholders
|
$
|
33
|
$
|
(13)
|
||||
Other comprehensive income:
|
||||||||
Cumulative translation adjustment, before income taxes
|
6
|
(1)
|
||||||
Income taxes related to items of other comprehensive income
|
-
|
-
|
||||||
Other comprehensive income (loss), net of tax
|
6
|
(1)
|
||||||
Comprehensive income (loss) available for common stockholders
|
$
|
39
|
$
|
(14)
|
||||
Comprehensive income attributable to noncontrolling interests:
|
||||||||
Net income (loss) attributable to noncontrolling interests
|
$
|
277
|
$
|
(96)
|
||||
Other comprehensive income (loss) - cumulative translation adjustment
|
33
|
(9)
|
||||||
Comprehensive income (loss) attributable to noncontrolling interests
|
$
|
310
|
$
|
(105)
|
March 31,
2016
|
December 31,
2015
|
|||||||||
(in millions) | ||||||||||
Assets
|
||||||||||
Cash and cash equivalents
|
$
|
1,747
|
$
|
1,601
|
||||||
Cash and securities - segregated for regulatory purposes
|
23,508
|
21,309
|
||||||||
Securities borrowed
|
4,011
|
3,924
|
||||||||
Securities purchased under agreements to resell
|
805
|
195
|
||||||||
Trading assets, at fair value
|
3,646
|
3,420
|
||||||||
Receivables from customers, net of allowance
|
15,222
|
17,050
|
||||||||
Receivables from brokers, dealers and clearing organizations
|
704
|
692
|
||||||||
Other assets
|
543
|
543
|
||||||||
Total assets
|
$
|
50,186
|
$
|
48,734
|
||||||
Liabilities and equity
|
||||||||||
Liabilities
|
||||||||||
Short-term borrowings
|
$
|
4
|
$
|
-
|
||||||
Securities loaned
|
2,401
|
2,894
|
||||||||
Trading liabilities - financial instruments sold but not yet purchased, at fair value
|
2,960
|
2,617
|
||||||||
Other payables:
|
||||||||||
Customers
|
38,390
|
37,084
|
||||||||
Brokers, dealers and clearing organizations
|
381
|
423
|
||||||||
Other payables
|
387
|
372
|
||||||||
39,158
|
37,879
|
|||||||||
Total liabilities
|
44,523
|
43,390
|
||||||||
Equity
|
||||||||||
Stockholders' equity
|
897
|
863
|
||||||||
Noncontrolling interests
|
4,766
|
4,481
|
||||||||
Total equity
|
5,663
|
5,344
|
||||||||
Total liabilities and equity
|
$
|
50,186
|
$
|
48,734
|
||||||
March 31, 2016
|
December 31, 2015
|
|||||||||
Ownership of IBG LLC Membership Interests
|
Interests
|
%
|
Interests
|
%
|
||||||
IBG, Inc.
|
63,994,537
|
15.7%
|
63,991,705
|
15.7%
|
||||||
Noncontrolling interests (IBG Holdings LLC)
|
343,040,504
|
84.3%
|
343,040,504
|
84.3%
|
||||||
Total IBG LLC membership interests
|
407,035,041
|
100.0%
|
407,032,209
|
100.0%
|
||||||
Three Months
|
||||||
Ended December 31,
|
||||||
2016
|
2015
|
|||||
(in millions, except share and per share data)
|
||||||
Comprehensive income (loss) available for common stockholders, net of tax
|
$
|
39
|
$
|
(14)
|
||
Comprehensive income per share:
|
||||||
Basic
|
$
|
0.61
|
$
|
(0.24)
|
||
Diluted
|
$
|
0.60
|
$
|
(0.24)
|
||
Weighted average common shares outstanding:
|
||||||
Basic
|
63,985,477
|
58,473,348
|
||||
Diluted
|
65,255,903
|
58,473,348
|