| Revision as of 19:28, 6 November 2015 editWidefox (talk | contribs)Autopatrolled, Extended confirmed users, Page movers, IP block exemptions, New page reviewers, Pending changes reviewers, Rollbackers107,107 edits Added {{COI}} tag to article (TW)← Previous edit | Latest revision as of 00:12, 1 May 2017 edit undoPointsofNoReturn (talk | contribs)Extended confirmed users4,433 edits Deleting this article in favor of a redirect to the main Interactive Brokers article. IB Group is about the holding company, whereas Interactive Brokers is about the actual company | ||
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| {{COI|date=November 2015}} | |||
| {{Infobox company | |||
| | name = Interactive Brokers Group, Inc.<br/>Interactive Brokers Group LLC | |||
| | former_name = Timber Hill Group LLC | |||
| | image = Interactive Brokers Exterior.tif | |||
| | image_size = 240px | |||
| | image_caption = Headquarters at One Pickwick Plaza | |||
| | type = ] | |||
| | traded_as = {{NASDAQ|IBKR}} | |||
| | foundation = {{start date and age|1977}}<ref name="Interactive Brokers website">{{cite web|title=IB Group History|url=http://www.interactivebrokers.com/en/index.php?f=564&ns=T|website=Interactive Brokers|publisher=Interactive Broekrs.|accessdate=September 8, 2015}}</ref> | |||
| | location_city = ],<br />United States | |||
| | key_people = ]<br /><small>(Founder, Chairman & CEO)</small> | |||
| | industry = ] | |||
| | num_employees = 901 (March 2014) | |||
| | services = ], ] | |||
| | area_served = Worldwide | |||
| | products = ] to ]s, ], ], ], ], ]s and ]s | |||
| | revenue = {{Decrease}} US$ 1.0 billion (2013)<ref name="FY"/> | |||
| | operating_income = | |||
| | net_income = {{Decrease}} US$ 417.6 million (2013)<ref name="FY"/> | |||
| | assets = {{Increase}} US$ 39.0 billion (2014)<ref name="1Q2014"/> | |||
| | equity = {{Increase}} US$ 5.2 billion (2014)<ref name="1Q2014"/> | |||
| | homepage = {{URL|www.interactivebrokers.com}} | |||
| }} | |||
| '''Interactive Brokers Group, Inc.''' ('''IBG Inc.''') and '''Interactive Brokers Group LLC''' ('''IBG LLC''') are a ], whose subsidiaries are an automated global electronic ] and ]. It is headquartered in ] and has offices in ], ], ], ], ], ], ], ], ], ], ], and ]. The IB Group was founded in 1994 by its Chairman and CEO ],<ref>{{cite web|title=Interactive Brokers|url=http://www.investing.com/brokers/interactive-brokers|accessdate=21 July 2015}}</ref><ref name="About"/> and consists of subsidiaries operating on most major stock, option, futures, forex, bond, ETF and CFD exchanges worldwide. On May 3, 2007 the company issued 40,000,000 shares (approximately 10 percent of the capital of IBG LLC) in a public offering, at a price of US$30.01 per share under the ] ] IBKR.<ref name="WSJ-IB"/> IBG's largest subsidiary is ] (IB), a US broker-dealer formed in 1993, and the largest US electronic broker, based on number of ].<ref name="IEX"/> IBG's other major subsidiary is '''Timber Hill LLC''', a US market maker formed in 1982. | |||
| About 11.5 percent of IBG Inc. is public, while the remainder is held by employees; Thomas Peterffy is the largest shareholder.<ref name="Shares"/> IB is regulated by the ], the U.S. ] (FINRA, the ] (NYSE), the U.S. ] (SFA) and foreign regulatory agencies.<ref name="FactSheet"/> The company owns 40 percent of the futures exchange ], and is an equity partner and founder of the ]. | |||
| ==History== | |||
| ===1977-92: Founding and company beginnings=== | |||
| ] | |||
| In 1977, ] left his job designing commodity trading software for Mocatta Metals, and bought a seat on the ] (AMEX) as an individual ]. The following year, he formed his first company, named T.P. & Co., to expand trading activities to several members under badge number 549. The firm became the first to use daily printed ] pricing sheets. In 1979, the company expanded to employ four people, three of whom were AMEX members. In 1982, Peterffy renamed T.P. & Co. to Timber Hill Inc.; he named it after a road to a favorite retreat,<ref name="IIReport"/><ref name="AutomateThis"/>{{rp|page=30–1}} one of his properties on Hutchin Hill Road in ]. | |||
| In 1983, Peterffy sought to computerize the option market, and he first targeted the ].<ref name="IIReport"/> At the time, brokers still used fair value pricing sheets, which were by then updated once or twice a day. In 1983 Timber Hill created the first handheld computers used for trading, which tracked positions and continually re-priced options on stocks.<ref name="About"/> However, he immediately encountered opposition from the heads of the exchange. When he first brought a 12 inch long by 9 inch wide device to the exchange floor, a committee in the exchange told him it was too big. When he shrank the device further, the committee stated that no analytic devices were allowed to be used on the exchange floor. Effectively blocked from using the CBOE, he sought to use his devices in other exchanges.<ref name="IIReport"/> | |||
| Also in 1983, Timber Hill expanded to 12 employees and began trading on the ].<ref name="About"/> In 1984 Timber Hill began coding a computerized stock index futures and options trading system and, in February 1985, Timber Hill's system and network was brought online. The system was designed to centrally price and manage risk on a portfolio of ]s that are traded in multiple locations around the country.<ref name="About"/> | |||
| Timber Hill joined the ] in 1984, the ] in 1985, the ], and the options division of the NYSE the following year. The firm began trading on the ], the ] and the ] in 1985. In 1987, Timber Hill joined the National Securities Clearing Corporation and the Depository Trust Company (now merged as the ]). By 1987, Timber Hill had 67 employees and had become self-] in ].<ref name="About"/> In 1987 the CBOE was about to close down its S&P 500 options market due to the options not attracting trader interest. Because of this, Peterffy pledged that Timber Hill would make tight markets in the product for a year if the exchange would allow the traders to use handheld computers in the ]. The exchange agreed, and more traders were attracted by the change in pricing; today S&P 500 options are the most actively traded index options in the US.<ref name="IIReport"/> In 1990, Timber Hill Deutschland GmbH was incorporated in Germany, and shortly thereafter began trading equity derivatives at the Deutsche Terminborse (DTB), marking the first time that Timber Hill used one of its trading system on a fully automated exchange. In 1992, Timber Hill began trading at the Swiss Options and Financial Futures Exchange, which merged with DTB in 1998 to become ]; at this time, Timber Hill had 142 employees.<ref name="About"/> | |||
| ===1993-2000: Interactive Brokers=== | |||
| ] | |||
| Interactive Brokers Inc. was incorporated in 1993 as a US broker-dealer, making Timber Hill's electronic network and trade execution services available to customers. In 1994, Timber Hill Europe began trading at the ], the ] and the ]. Also in 1994, Timber Hill Deutschland became a member of the ], IB became a member of the New York Stock Exchange, and the Timber Hill Group LLC was formed as a holding company of Timber Hill operations. In 1995, Timber Hill France S.A. was incorporated and began making markets at the Paris Traded Equity Options Market and the ] futures exchange. Also in 1995, Timber Hill Hong Kong began market making at the ], IB created its Trader Workstation for professional customers to access foreign exchanges, and IB executed its first trades for public customers.<ref name="About"/> | |||
| In 1996, Timber Hill Securities Hong Kong Limited was incorporated and began trading at the ]. In 1997, Timber Hill Australia Pty Limited was incorporated in Australia, and Timber Hill Europe began trading in Norway and became a member of the Austrian Derivatives Exchange. By 1997, Timber Hill had 284 employees. In 1998, Timber Hill Canada Company was formed, and IB began to clear online trades for retail customers connected directly to ] to trade ] futures. In 1999, IB introduced a ] linkage for multiple-listed ] and IB began to clear online trades for customers trading stocks and equity derivatives through the IB system.<ref name="About"/> Also in 1999, ] attempted to purchase the company and was turned away.<ref name="IIReport"/> | |||
| By 2000, IB began to clear online trades for customers trading stocks and ]s through the IB system. Also in 2000, Interactive Brokers (U.K.) Limited was formed and Timber Hill became a ] on the ].<ref name="About"/> | |||
| ===2001-present: Interactive Brokers Group=== | |||
| In 2001, the corporate name of the Timber Hill Group LLC was changed to Interactive Brokers Group LLC, which at the time handled 200,000 trades per day.<ref name="About"/> In 2002, Interactive Brokers, along with the ] and the ], created the ]. Also in 2002, IB introduced Mobile Trader and an ] (API) for customers and developers to integrate their systems with the IB trading system. In 2002, Timber Hill became the major market maker for the newly introduced US ]. In 2003, Interactive Brokers expanded ] and clearing services to include Canadian stocks, equity/index options and futures, Italian index options and futures, German equity options, Japanese index options and futures, Dutch index options and futures, UK equity options and Belgian index options and futures. In 2004, IB introduced direct market access to its customers on the ] and ] exchanges. IB upgraded its account management platform, including a new release of Trader Workstation, real time charts, scanners, fundamental analytics, BookTrader, OptionTrader, and Advisor account trade allocations. In 2005, IB released IdealPro (now ]). In 2006, the IB Options Intelligent Report was launched to report on unusual concentrations of trading interests and changing levels of uncertainty in the option markets. Also during that year, IBG took stakes in ], the ] Stock Exchange, and the CBOE Stock Exchange. In 2006, Interactive Brokers became the first to offer penny-priced options.<ref name="About"/> | |||
| <!-- Deleted image removed: ] --> | |||
| On May 3, 2007 IBG had its ] and sold 40 million shares at $30.01 per share.<ref name="About"/> The shares sold represented approximately 10 percent of the interest in IBG LLC. Currently about 13.6 percent of the company is publicly held, while the remainder is held by employees. Thomas Peterffy is the largest shareholder of IBG Holdings. Also in 2007, a real-time Portfolio Margin platform was introduced for customers trading multiple ]; this provided increased leverage with real-time risk management. As well, ] were launched for customers to have a market-determined AAA rated financing alternative to randomly set broker rates. In 2008, IB released the ]. Also in 2008, several trading algorithms were introduced to the Trader Workstation including the Accumulate-Distribute Algo, which allows traders to slice larger orders into smaller, non-uniform increments and release them at random intervals over time, to help achieve best price execution for large volume orders.<ref name="About"/> | |||
| In 2009, IB launched the ] and the ] tool. In 2011, IB released IBIS, Capital Introduction for hedge funds, Stock Yield Enhancement and mobileTWS for iPad. As well, Interactive Brokers became the largest online US broker as measured by ].<ref name="About"/> During the ] protests of 2011-2012, IB ran a series of controversial television advertisements with the catchphrase "Join the 1%".<ref name="Occupy"/> In 2012, IB began offering Wealth Manager and Money Manager accounts and opened the fully electronic Money Manager Marketplace. IB also released the TWS Mosaic trading interface and the Tax Optimizer for managing capital gains/losses in that year.<ref name="About"/> In 2013, IB released the ] and ] tools. Also in 2013, IB integrated IB FYI automated portfolio-relevant notifications into the TWS, providing information such as shares becoming available for borrowing and options that may be exercised to obtain declared dividends.<ref name="About"/> On April 3, 2014, Interactive Brokers became the first online broker to offer direct access to ].<ref name="IEX"/> | |||
| ==Subsidiaries== | |||
| Interactive Brokers Group subsidiaries include:<ref name="About"/> | |||
| {{Div col}} | |||
| ;Brokerage | |||
| * ] | |||
| * Interactive Brokers Canada Inc. | |||
| * Interactive Brokers Corp. | |||
| * Interactive Brokers (India) Pvt. Ltd. | |||
| * Interactive Brokers (U.K.) Limited | |||
| * Interactive Brokers Securities Hong Kong Ltd. | |||
| * Interactive Brokers Securities Japan Inc. | |||
| ;Market making | |||
| * Timber Hill LLC | |||
| * Timber Hill Australia ] Ltd. | |||
| * Timber Hill Canada Company | |||
| * Timber Hill (Europe) AG | |||
| ;Issuance business | |||
| * Interactive Brokers Financial Products SA | |||
| {{Div col end}} | |||
| ==See also== | |||
| * ] | |||
| {{Portal bar|Connecticut|Companies|Business and economics|Software}} | |||
| ==References== | |||
| {{Reflist|30em|refs= | |||
| <ref name="FY">{{cite web|url=https://investors.interactivebrokers.com/download/2013_IBG_AR.pdf|title=2013 Annual Review|publisher=Interactive Brokers Group, Inc.|accessdate=June 25, 2014}}</ref> | |||
| <ref name="WSJ-IB">{{cite news|last=Gelsi|first=Steve|title=Interactive Brokers Group IPO nearing its $500 mln debut|url=http://www.marketwatch.com/story/interactive-brokers-group-ipo-nearing-its-500-mln-debut|accessdate=June 25, 2014|newspaper=The Wall Street Journal|date=April 5, 2007}}</ref> | |||
| <ref name="Occupy">{{cite news|last1=Dicker|first1=Ron|title=Interactive Brokers Ad Mocks Occupy Movement: 'Join The 1%'|url=http://www.huffingtonpost.com/2012/03/26/interactive-brokers-occupy-wall-street_n_1380517.html|accessdate=June 25, 2014|work=The Huffington Post|publisher=TheHuffingtonPost.com, Inc.}}</ref> | |||
| <ref name="FactSheet">{{cite web|title=IB Fact Sheet|url=https://www.interactivebrokers.com/en/index.php?f=media&p=fact|website=Interactive Brokers|publisher=Interactive Brokers Group|accessdate=June 25, 2014}}</ref> | |||
| <ref name="About">{{cite web|title=About the Interactive Brokers Group|url=https://www.interactivebrokers.com/en/index.php?f=564|website=Interactive Brokers|publisher=Interactive Brokers Group|accessdate=June 25, 2014}}</ref> | |||
| <ref name="IIReport">{{cite news|last1=McGee|first1=Susan|title=A Breed Apart|url=http://www.institutionalinvestor.com/article.aspx?articleID=1025866#.U62QAPnxpSA|accessdate=June 27, 2014|work=Institutional Investor Magazine|issue=November 2005|date=November 10, 2005|publisher=Institutional Investor LLC}}</ref> | |||
| <ref name="IEX">{{cite news|title=Interactive Brokers Adds IEX as an Electronic Trading Venue|url=http://markets.on.nytimes.com/research/stocks/news/press_release.asp?docTag=201404031505BIZWIRE_USPRX____BW6299&feedID=600&press_symbol=7377679|accessdate=July 2, 2014|work=The New York Times|agency=Business Wire|date=April 3, 2014}}</ref> | |||
| <ref name="Shares">{{cite news|last1=Bunge|first1=Jacob|title=Interactive Brokers Founder, CEO To ‘Gradually’ Retire|url=http://blogs.wsj.com/deals/2012/04/19/interactive-brokers-founder-ceo-to-gradually-retire/|accessdate=July 2, 2014|work=The Wall Street Journal|date=April 19, 2012}}</ref> | |||
| <ref name="1Q2014">{{cite web|url=https://investors.interactivebrokers.com/download/Q1_14_earnings_release.pdf|title=Interactive Brokers Group Announces 1Q2014 Results|publisher=Interactive Brokers Group, Inc.|accessdate=July 7, 2014}}</ref> | |||
| <ref name="AutomateThis">{{cite book|last1=Steiner|first1=Christopher|title=Automate This: How Algorithms Came to Rule Our World|date=2012|publisher=The Penguin Group|location=New York, New York|isbn=978-1-59184-492-1|oclc=757470260|url=http://books.google.com/books?id=3W-ePnCEL38C|accessdate=July 11, 2014}}</ref> | |||
| }} | |||
| ==External links== | |||
| * {{Official website}} | |||
| {{Finance links|name=Interactive Brokers Group, Inc.|symbol=IBKR|google=NASDAQ:IBKR|sec_cik=1166521|yahoo=IBKR|hoovers=Interactive_Brokers_Group_Inc.0d952ea5793db115|reuters=IBKR.O}} | |||
| {{Commons category|Interactive Brokers}} | |||
| ;Media coverage | |||
| * at '']'' | |||
| * at '']'' | |||
| * at '']'' | |||
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