And they’re off!
IEX Group, Inc., which operates the 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 listing on IEX on Friday, October 5, 2018 and will continue to be listed under the IBKR ticker symbol.
We areexcited and honoredto welcomeInteractive Brokersas the inaugural IEXFounding Issuer, said Brad Katsuyama, CEO and co-founder of IEX Group, Inc. Interactive Brokersisavisionaryfinancial services companythatsharesIEXsphilosophy and commitment to fairer markets.
I have long admired Interactive Brokers Chairman and Founder Thomas Peterffysbold,candid, and consistentview that equity markets are here to serve investors and his critical role in innovating the industry over the past four decades.In fact, his2010keynote speechto 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 worlds 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 worlds 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.
