Interactive Brokers Group, Inc. (NASDAQ GS:IBKR) is the first online
broker to offer direct access to IEX to its investors, traders and
institutions. IEX is an ATS designed to focus on investor protection and
performance.
Interactive Brokers’ (IB) sophisticated customer base may now choose to
send their US stock orders to IEX directly. Customers also have the
choice of using IB SmartRoutingSM technology. IB SmartRouting
searches for the best firm stock, option and combination prices
available at the time of the order, and seeks to immediately execute the
order electronically.
Steve Sanders, executive vice president of marketing and product
development at Interactive Brokers, said “Customer interest in IEX as a
result of recent media exposure is apparent. We determined that it makes
sense to connect directly to this new trading venue, thereby providing
our customers with another market center destination.”
For 37 years, the IB Group1 has been building electronic
access trading technology that delivers real advantages to traders,
investors and institutions worldwide. Interactive Brokers is the largest
US electronic broker based on daily average revenue trades executing
583,000 trades per day2.
Based on independent measurements, the Transaction Auditing Group, Inc.
(TAG), a third-party provider of transaction analysis, has determined
that Interactive Brokers’ US stock and options price executions were
significantly better than the industry3 during the second
half of 2013. The IB price advantage is better than the industry by
$0.23 per 100 shares of US stock and $0.20 per US option contract.
For more information about Interactive Brokers please visit interactivebrokers.com.
About Interactive Brokers Group, Inc.: Interactive Brokers Group,
Inc., together with its subsidiaries, is an automated global electronic
broker that specializes in catering to financial professionals by
offering state-of-the-art trading technology, superior execution
capabilities, worldwide electronic access, and sophisticated risk
management tools at exceptionally low costs. The brokerage trading
platform utilizes the same innovative technology as the Company's market
making business, which specializes in routing orders and executing and
processing trades in securities, futures, foreign exchange instruments,
bonds and funds on more than 100 electronic exchanges and trading venues
around the world. As a market maker, we provide liquidity at these
marketplaces and, as a broker, we provide professional traders and
investors with electronic access to stocks, options, futures, forex,
bonds and mutual funds from a single IB Universal Account. Employing
proprietary software on a global communications network, Interactive
Brokers is continuously integrating its software with a growing number
of exchanges and trading venues into one automatically functioning,
computerized platform that requires minimal human intervention.
About IEX: Dedicated to institutionalizing fairness in the
markets, IEX will provide a more balanced marketplace via simplified
market structure design and cutting-edge technology. IEX offers a
fair-access platform to any qualified broker dealer. IEX is driven by a
team of cross-industry experts with backgrounds spanning market venues,
electronic trading, and broker-dealers. IEX is the first equity trading
venue owned exclusively by a consortium of buy-side investors, including
mutual funds, hedge funds, and family offices. www.iextrading.com
______________________________________
1 Includes Interactive Brokers Group and predecessor
companies.
2 March 2014 results.
3 The Transaction Auditing Group (TAG). Industry as a whole
for the referenced periods according to TAG. The TAG analysis for US
stocks included all market orders of 100 shares or more up to 10,000
shares. The analysis for US options included all market order sizes in
US options and includes exchange rebates received by customers under
IB's cost-plus pricing structure. The TAG analysis of orders routed to
exchanges in Europe included all orders routed for execution during
regular trading hours including all market and marketable limit orders
and orders near the market (orders having a limit price within one-tenth
of a Euro from the quote price at time of order receipt) on stocks
listed on the included exchanges, weighted by the volume executed on
each exchange. The exchanges for European stocks are XETRA, EURONEXT,
CHI-X, WIENER BORSE, TURQUOISE, LONDON and NASDAQ OMX.
Copyright Business Wire 2014