UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||
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Title of each class | Trading Symbol | Name of the exchange on which registered |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On September 23, 2019, Interactive Brokers Group, Inc. (the “Company”), provided written notice to the Investors Exchange LLC (“IEX”) that it intends to voluntarily delist its Class A common stock (the “common stock”) from IEX and intends to transfer the listing to Nasdaq Stock Market LLC (“Nasdaq”) on the opening of trading on October 7, 2019. The Company has been authorized for listing on Nasdaq, and its common stock will continue to trade under the stock symbol “IBKR” on Nasdaq.
The Company’s Board of Directors approved the delisting of the Company’s common stock from IEX and the listing and trading of its common stock on Nasdaq on September 22, 2019.
A copy of the press release issued by the Company is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
All of the information furnished in this report (including Exhibit 99.1 hereto) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and unless expressly set forth by specific reference in such filings, shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, whether made before or after the date hereof and regardless of any general incorporation language in such filings.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits
99.1Press Release dated September 23, 2019.
104Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL Document
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: September 24, 2019
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| INTERACTIVE BROKERS GROUP, INC. | |
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| By: | /s/ Paul J. Brody |
| Name: | Paul J. Brody |
| Title: | Chief Financial Officer, Treasurer |
Interactive Brokers Group to Move Stock Listing to Nasdaq
GREENWICH, CT - September 23, 2019 - Interactive Brokers Group, Inc. (IEX: IBKR), an automated global electronic broker, today announced that it will move the listing of its shares to Nasdaq. The Company expects its common stock will begin trading on the Nasdaq Global Select Market on October 7, 2019, and that its shares will continue to trade under the ticker symbol “IBKR”.
“Last year, we switched to IEX because we believed that their advanced exchange model, including their mid-price orders and crumbling order algorithms, provided the opportunity for substantially better execution prices for orders routed there. We hoped that we would be followed by other listings and, as the exchange gained greater volume, the public investing in those shares would benefit,” said Thomas Peterffy, Chairman and Founder of Interactive Brokers. “Unfortunately, IEX exchange could not gain more listings and there were fewer market-makers trading our stock on IEX than on Nasdaq. We gave it a year and we tried our best, but we now have to accept that, in spite of our good intentions, returning to Nasdaq will be best for our shareholders.”
“We are proud to welcome Interactive Brokers back to Nasdaq’s family of the world’s largest and most innovative companies,” said Adena Friedman, President and CEO of Nasdaq. “Rejoining Nasdaq will give Interactive Brokers exposure to the leading indexes in the investment community, insights from our proprietary Market Intelligence Desk, and access to our unparalleled marketing assets. We look forward to working with and supporting Interactive Brokers as it continues to grow.”
“We appreciated Interactive Brokers being our first listed company. I have great respect for Thomas and Interactive Brokers,” said Brad Katsuyama, Co-Founder and CEO of IEX. “In discussions with Thomas, I came to the conclusion that listings is not a core part of IEX’s business and we will exit listings after IBKR leaves to focus on higher growth opportunities.”
About Interactive Brokers Group, Inc.:
About Interactive Brokers Group, Inc.: Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities and foreign exchange around the clock on over 125 markets in numerous countries and currencies, from a single IBKR Integrated Investment Account to clients worldwide. We service individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios at the lowest cost according to Barron’s Best Online Brokers review, February 25, 2019. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments.
For Interactive Brokers Group, Inc. Investors: Nancy Stuebe, 203-618-4070 or Media: Kalen Holliday, 203-913-1369.
Document And Entity Information |
Sep. 22, 2019 |
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| Document And Entity Information [Abstract] | |
| Document Type | 8-K |
| Document Period End Date | Sep. 22, 2019 |
| Entity Registrant Name | INTERACTIVE BROKERS GROUP, INC. |
| Entity Incorporation, State or Country Code | DE |
| Entity File Number | 001-33440 |
| Entity Tax Identification Number | 30-0390693 |
| Entity Address, Address Line One | One Pickwick Plaza |
| Entity Address, City or Town | Greenwich |
| Entity Address, State or Province | CT |
| Entity Address, Postal Zip Code | 06830 |
| City Area Code | 203 |
| Local Phone Number | 618-5800 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock, par value $.01 per share |
| Trading Symbol | IBKR |
| Security Exchange Name | IEX |
| Entity Central Index Key | 0001381197 |
| Entity Emerging Growth Company | false |
| Amendment Flag | false |