NEW YORK--(BUSINESS WIRE)--IEX Group, Inc., which operates America’s newest stock exchange, announced today that Interactive Brokers Group, Inc. (NASDAQ GS:IBKR), an automated global electronic broker, will be the first company to list its stock on IEX. Interactive Brokers' common stock, which is currently listed on the Nasdaq Stock Market, is expected to begin trading on IEX on Friday, October 5, 2018 and will continue to be listed under the IBKR ticker symbol.
“We are excited and honored to welcome Interactive Brokers as the inaugural IEX Founding Issuer,” said Brad Katsuyama, CEO and co-founder of IEX Group, Inc. “Interactive Brokers is a visionary financial services company that shares IEX’s philosophy and commitment to fairer markets.”
“I have long admired Interactive Brokers Chairman and Founder Thomas Peterffy’s bold, candid, and consistent view that equity markets are here to serve investors and his critical role in innovating the industry over the past four decades. In fact, his 2010 keynote speech to the World Federation of Exchanges on the important role that stock exchanges play in the marketplace partly inspired me to co-found IEX, so for me personally, things have certainly come full circle,” said Mr. Katsuyama.
IEX was founded and is supported by some of the world’s largest, most conscientious investors and has pioneered technologies, such as the IEX Speed Bump and the IEX Signal, that are designed to level the playing field for shareholders and protect investors from predatory high-speed traders.
“IEX has earned the trust and support of some of the world’s largest investors, and it makes perfect sense that companies would follow the lead of their shareholders in supporting a fair exchange,” says Jeffrey Sonnenfeld, an IEX Exchange Board Member and the Senior Associate Dean for Leadership Programs at the Yale School of Management. “To have a sophisticated financial firm such as Interactive Brokers be the first to switch to IEX sends a powerful and confident message which other companies, inside or outside of finance, can certainly follow with conviction.”
“After over 40 years of a duopoly in corporate listings, a new choice means more competition, better value, lower prices, and better service for companies, who – along with investors – are the foundation of our public markets,” said Mr. Katsuyama. “We are extremely proud to have this opportunity, we thank Interactive Brokers for leading the way, and we look forward to working with companies and investors to build fairer markets.”
IEX is on a mission to build fairer markets. Founded in 2012 and headquartered in New York City, IEX introduced its first trading venue in 2013 and launched as a U.S. stock exchange in 2016. IEX currently averages approximately $8 billion in U.S. equity trading per day and plans to list its first company, Interactive Brokers, on October 5, 2018. IEX is the stock exchange that believes that every investor has the right to trade on equal and fair terms, on every trade. Learn more at iextrading.com.