Interactive Brokers Group Inc Stock Price, News & Analysis

Interactive Brokers (Nasdaq: IBKR) has announced the opening of a new office in Dubai International Financial Center (DIFC), establishing its presence in the Middle East. This move aims to provide investors in the UAE and GCC region with access to IBKR's global trading expertise and cost-effective brokerage services.

The new office will cater to active traders, high-net-worth investors, and wealth management institutions, offering powerful trading technology, competitive pricing, and a wide range of investment products. IBKR clients can trade on 150 markets, investing in stocks, options, futures, currencies, bonds, and funds from a single unified platform. The company serves over three million clients in more than 200 countries and territories.

Interactive Brokers' DIFC office is established as a branch with a Category 4 license from the Dubai Financial Services Authority (DFSA). This expansion is expected to help IBKR grow in the Middle East, North Africa, and surrounding countries.

Interactive Brokers Group (Nasdaq: IBKR) reported strong financial results for Q3 2024. GAAP diluted EPS increased to $1.81 from $1.56 year-over-year, while adjusted EPS rose to $1.75 from $1.55. Net revenues grew to $1,365 million (GAAP) and $1,327 million (adjusted) from $1,145 million and $1,139 million respectively in the previous year.

Key highlights include:

• Commission revenue up 31% to $435 million
• Net interest income increased 9% to $802 million
• Customer accounts grew 28% to 3.12 million
• Customer equity rose 46% to $541.5 billion
• Total DARTs increased 42% to 2.70 million

The company declared a quarterly cash dividend of $0.25 per share, payable on December 13, 2024.

Interactive Brokers (Nasdaq: IBKR) and SNB Capital have announced a collaboration enabling eligible international investors to access the Saudi Exchange through the Interactive Brokers platform. This makes IBKR the first global broker to allow foreign investors to directly own and trade securities listed on the Saudi Exchange. Clients can now invest in Saudi equities alongside global stocks, options, futures, bonds, funds, and more from a single unified platform.

The Saudi Exchange is among the top ten largest stock markets within the World Federation of Exchanges and is the dominant market in the Gulf Cooperation Council (GCC), with over 415 listed securities across 22 sectors. This collaboration aligns with Saudi Arabia's Vision 2030, aiming to develop an advanced financial market and provide an effective investment platform with a diversified investor base.

Interactive Brokers (Nasdaq: IBKR) announced that trading in Election Forecast Contracts has surpassed 1,000,000 since their launch on October 3, 2024. These contracts allow eligible US investors to trade predictions on political outcomes, economic data releases, and climate indicators via the ForecastEx exchange.

Investors can trade on various 2024 US election outcomes, including presidential candidates and party majorities in the House and Senate. Forecast Contracts are priced between $0.02 and $0.99, reflecting market consensus on event likelihood. Correct predictions settle at $1, while incorrect ones settle at $0. Investors also earn a 4.33% APY incentive coupon on their positions' daily closing value.

Thomas Peterffy, Founder and Chairman of Interactive Brokers, noted the substantial demand for election-focused contracts, highlighting the growing relevance of political prediction markets. ForecastEx , a CFTC-regulated subsidiary of Interactive Brokers, operates these contracts, which are available only to eligible US residents.

ForecastEx , a CFTC registered Designated Contract Market and Derivative Clearing Organization, has launched Forecast Contracts on upcoming U.S. election results. These contracts allow customers of ForecastEx Members to trade predictions on political outcomes, either to hedge against election-related uncertainty or profit from political insight.

Starting October 4th, 2024, at 7:15 AM CT, contracts will be available for events such as:

• Kamala Harris winning the 2024 presidential election
• Donald Trump winning the 2024 presidential election
• Democratic Party winning a majority in the U.S. Senate in 2024
• Democratic Party winning a majority in the U.S. House of Representatives in 2024

Contract prices range from $0.02 to $0.99, reflecting the market's consensus on each outcome's likelihood. Correct outcome holders receive $1.00. The payment obligation is fully secured by cash, with 100% of investment income distributed monthly to Members as an Incentive Coupon.

Interactive Brokers (Nasdaq: IBKR) has announced the launch of Forecast Contracts on upcoming US election results, starting October 3 at 5:15 pm ET. This new offering allows US investors to trade predictions on political outcomes, alongside contracts on economic data releases and climate indicators, through the ForecastEx exchange.

The contracts cover various aspects of the 2024 US elections, including presidential candidates and Senate races. Priced between $0.02 and $0.99, these contracts reflect market sentiment on event probabilities. They settle at $1 for correct predictions and $0 for incorrect ones.

This initiative aims to help investors hedge against political volatility and capitalize on their insights. The contracts are accessible through IBKR ForecastTrader, offering an incentive coupon (currently 4.33% APY) on daily closing position values.

Interactive Brokers Group (Nasdaq: IBKR) reported its Electronic Brokerage monthly performance metrics for September 2024. Key highlights include:

• 2.634 million Daily Average Revenue Trades (DARTs), 46% higher than the previous year but 3% lower than the previous month
• Ending client equity of $541.5 billion, up 46% year-over-year and 5% month-over-month
• Client margin loan balances of $55.8 billion, increasing 28% year-over-year and 2% month-over-month
• 3.12 million client accounts, a 28% increase from the previous year and 2% from the previous month
• Average commission per cleared Commissionable Order of $2.88

The report also includes detailed Reg.-NMS stock trading expense data for IBKR PRO clients, with an average U.S. Reg-NMS stock trade value of $20,817 in September.

Interactive Brokers Group (Nasdaq: IBKR) has announced plans to release its third quarter financial results on Tuesday, October 15, 2024, at approximately 4:00 pm (ET). The company will host a conference call to discuss the results at 4:30 pm (ET) on the same day.

The press release containing the financial results will be available on the company's website at www.interactivebrokers.com/ir. Interested parties can register online to obtain dial-in details for the conference call, which should be dialed approximately ten minutes before the start time. Additionally, an audio webcast of the call will be accessible through the Investor Relations section of the Interactive Brokers website at www.interactivebrokers.com/earnings.

Interactive Brokers Group (IBKR) reported its August 2024 brokerage metrics, showing strong year-over-year growth. Key highlights include:

• 2.712 million Daily Average Revenue Trades (DARTs), up 40% from last year
• Client equity reached $515.3 billion, a 36% increase
• 3.06 million client accounts, growing 29% year-over-year
• Client margin loan balances at $54.9 billion, up 30%
• Client credit balances of $112.1 billion, rising 13%

The company's GLOBAL value increased by 0.52% in August. For IBKR PRO clients, the total cost of executing and clearing U.S. Reg.-NMS stocks was about 6.1 basis points of trade money in August, with a 12-month rolling average of 3.6 basis points.