Interactive Brokers files registration statement to transfer listing to Nasdaq

Maria Nikolova

The brokerage has filed a registration statement to register its Class A common stock, in connection with the transfer of the listing of the common stock from the Investors Exchange to Nasdaq.

Online trading major Interactive Brokers Group, Inc. has submitted a Registration Statement on Form 8-A with the United States Securities and Exchange Commission (SEC). The document is being filed to register Interactive Brokers’ Class A common stock, par value $0.01 per share, pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended, in connection with the transfer of the listing of the Common Stock from the Investors Exchange LLC to the Nasdaq Stock Market LLC.

The listing on Nasdaq is expected to be effective as of the opening of trading on Monday, October 7, 2019.

The company explains that the description of its Common Stock to be registered is set forth under the heading “Description of Capital Stock” in Interactive Brokers’s Registration Statement on Form S-3 filed with the Securities and Exchange Commission on July 28, 2017, except that the disclosure under the subcaption “Listing” therein is amended to read in full as follows: “Our Common Stock will be listed on Nasdaq under the symbol IBKR, effective as of the opening of trading on Monday, October 7, 2019”.

Interactive Brokers’ decision to move its listing back to Nasdaq was announced about a year after the brokerage said it would shift its listing to IEX.

Regarding the shift of the listing to Nasdaq, Thomas Peterffy, Chairman and Founder of Interactive Brokers, commented:

“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.”

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