IEX has decided to leave its listings business to focus on its exchange trading operations.
Automated global electronic broker Interactive Brokers Group, Inc. has announced this Monday that it will be moving the listing of its shares away from IEX exchange back to Nasdaq.
The broker expects that its common stock will commence trading on the Nasdaq Global Select Market on the 7th of October this year. The announcement comes one year since the company became the inaugural listing on the IEX Exchange.
On IEX, Interactive Brokers’ shares traded under the ticker symbol “IBKR,” the broker said in its statement today that its shares will continue to trade under the same ticker symbol.
Thomas Peterffy, Chairman and Founder of Interactive Brokers, explained the broker’s reasons behind the change by saying: "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. 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."
IEX says goodbye to listings business
At the same time, IEX has also announced today that it will be exiting the corporate listings business and will instead focus on its exchange trading operations. According to the Co-Founder and CEO of IEX Group, Brad Katsuyama, the exchange is exiting the listings business as it no longer makes sense, in terms of the company’s strategy and resources.
“Interactive Brokers (IEX: IBKR) Founder and CEO Thomas Peterffy is an industry icon who I have great respect for,” Katsuyama highlighted in a statement released by IEX today.
“And after discussions with him about the future of listings, we jointly made the decision to announce IEX’s exit from the listings business and IBKR’s switch back to Nasdaq. We are extremely grateful that IBKR was our first listing as they were the first retail broker to trade on IEX and will continue to be a leading Member of our exchange.”
By leaving its listings business behind, IEX will be able to streamline its operations and focus more of its time into its trading product pipeline. In the next year, the company expects to launch multiple new products.
Nasdaq welcomes back Interactive Brokers
Adena Friedman, the President and CEO of Nasdaq, said that the exchange was proud to welcome back Interactive Brokers to the family of “the world’s largest and most innovative companies.”
"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," Friedman added.
Automated global electronic broker Interactive Brokers Group, Inc. has announced this Monday that it will be moving the listing of its shares away from IEX exchange back to Nasdaq.
The broker expects that its common stock will commence trading on the Nasdaq Global Select Market on the 7th of October this year. The announcement comes one year since the company became the inaugural listing on the IEX Exchange.
On IEX, Interactive Brokers’ shares traded under the ticker symbol “IBKR,” the broker said in its statement today that its shares will continue to trade under the same ticker symbol.
Thomas Peterffy, Chairman and Founder of Interactive Brokers, explained the broker’s reasons behind the change by saying: "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. 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."
IEX says goodbye to listings business
At the same time, IEX has also announced today that it will be exiting the corporate listings business and will instead focus on its exchange trading operations. According to the Co-Founder and CEO of IEX Group, Brad Katsuyama, the exchange is exiting the listings business as it no longer makes sense, in terms of the company’s strategy and resources.
“Interactive Brokers (IEX: IBKR) Founder and CEO Thomas Peterffy is an industry icon who I have great respect for,” Katsuyama highlighted in a statement released by IEX today.
“And after discussions with him about the future of listings, we jointly made the decision to announce IEX’s exit from the listings business and IBKR’s switch back to Nasdaq. We are extremely grateful that IBKR was our first listing as they were the first retail broker to trade on IEX and will continue to be a leading Member of our exchange.”
By leaving its listings business behind, IEX will be able to streamline its operations and focus more of its time into its trading product pipeline. In the next year, the company expects to launch multiple new products.
Nasdaq welcomes back Interactive Brokers
Adena Friedman, the President and CEO of Nasdaq, said that the exchange was proud to welcome back Interactive Brokers to the family of “the world’s largest and most innovative companies.”
"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," Friedman added.
EU Parliament Imposes €10,000 Cash Payment Limit in New Anti-money Laundering Legislation
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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