Interactive Brokers Group, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Interactive Brokers Group, Inc. has filed its 2023 10-K annual report detailing financial performance and stock information.</b>

AI Summary

Interactive Brokers Group, Inc. (IBKR) filed a Annual Report (10-K) with the SEC on February 27, 2024. Interactive Brokers Group, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial statement dates and periods are detailed, including common stock and treasury stock information for 2023, 2022, 2021, and 2020. Information regarding stock incentive plans, including shares granted to directors and employees, is provided for 2023. The report includes details on securities purchased under agreements to resell as of December 31, 2023, and December 31, 2022.

Why It Matters

For investors and stakeholders tracking Interactive Brokers Group, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Interactive Brokers' financial health and operational activities for the fiscal year 2023, crucial for investors to assess performance and future prospects. The detailed breakdown of stock information, including common stock classes and treasury stock, along with executive compensation and risk factors, offers insights into the company's capital structure and governance.

Risk Assessment

Risk Level: medium — Interactive Brokers Group, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which is a comprehensive annual report. While it contains detailed financial information, it does not immediately highlight any significant new risks or dramatic shifts that would warrant a 'high' risk assessment without further analysis of the content within the report itself.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Interactive Brokers' performance and potential challenges in the past fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-27 — Filing Date (Date of submission)
• 2023-01-01 — Reporting Period Start Date (Fiscal year 2023)
• 2023-12-31 — Reporting Period End Date (Fiscal year 2023)

Key Players & Entities

• Interactive Brokers Group, Inc. (company) — Filer name
• 0001381197 (company) — Central Index Key
• 6211 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• CT (company) — State of Business Address
• 203-618-5800 (company) — Business Phone
• 001-33440 (company) — SEC File Number
• 24680934 (company) — Film Number

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-27: Filing Date — Date the 10-K was officially filed with the SEC.

Key Financial Figures

• $83.07 — 96,870,712 computed by reference to the $83.07 closing sale price of the common stock
• $0.01 — ssuer's Class A common stock, par value $0.01 per share, outstanding and 100 shares o
• $1.9 billion — s of common stock (with a fair value of $1.9 billion) to Holdings in exchange for an equival
• $2,500,000 — provides eligible customers with up to $2,500,000 of Federal Deposit Insurance Corporatio
• $250,000 — sh balances in addition to the existing $250,000 Securities Investor Protection Corporat
• $2,750,000 — ("SIPC") coverage for total coverage of $2,750,000. Customers continue earning the same co
• $246,500 — ances daily to one or more banks, up to $246,500 per bank, allowing for the accrual of i
• $1.00 — invest in U.S. shares with as little as $1.00. This functionality allows customers to
• $10,000 — on their uninvested cash balances above $10,000 (or the equivalent in foreign currency)

Filing Documents

• ibkr-20231231x10k.htm (10-K) — 9405KB
• ibkr-20231231xex4_1.htm (EX-4.1) — 45KB
• ibkr-20231231xex19_1.htm (EX-19.1) — 90KB
• ibkr-20231231xex21_1.htm (EX-21.1) — 45KB
• ibkr-20231231xex23_1.htm (EX-23.1) — 3KB
• ibkr-20231231xex31_1.htm (EX-31.1) — 13KB
• ibkr-20231231xex31_2.htm (EX-31.2) — 11KB
• ibkr-20231231xex32_1.htm (EX-32.1) — 7KB
• ibkr-20231231xex32_2.htm (EX-32.2) — 7KB
• ibkr-20231231xex97_1.htm (EX-97.1) — 49KB
• ibkr-20231231x10kg001.jpg (GRAPHIC) — 103KB
• ibkr-20231231x10kg002.jpg (GRAPHIC) — 344KB
• 0001381197-24-000083.txt (&nbsp;) — 31348KB
• ibkr-20231231.xsd (EX-101.SCH) — 100KB
• ibkr-20231231_cal.xml (EX-101.CAL) — 128KB
• ibkr-20231231_def.xml (EX-101.DEF) — 265KB
• ibkr-20231231_lab.xml (EX-101.LAB) — 696KB
• ibkr-20231231_pre.xml (EX-101.PRE) — 516KB
• ibkr-20231231x10k_htm.xml (XML) — 8108KB

Business

Business 2 ITEM 1A

Risk Factors

Risk Factors 20 ITEM 1B Unresolved Staff Comments 35 ITEM 1C Cybersecurity 35 ITEM 2

Properties

Properties 37 ITEM 3 Legal Proceedings and Regulatory Matters 38 ITEM 4 Mine Safety Disclosures 38 PART II ITEM 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 39 ITEM 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 41 ITEM 7A

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 60 ITEM 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 65 ITEM 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 107 ITEM 9A

Controls and Procedures

Controls and Procedures 107 ITEM 9B Other Information 109 PART III ITEM 10 Directors, Executive Officers and Corporate Governance 109 ITEM 11

Executive Compensation

Executive Compensation 109 ITEM 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 109 ITEM 13 Transactions with Related Persons, Promoters and Certain Control Persons 109 ITEM 14 Principal Accountant Fees and Services 109 PART IV ITEM 15 Exhibits and Financial Statement Schedules 111 ITEMS 15 (a)(1) and 15 (a)(2) Index to Financial Statements and Financial Statement Schedule 112 ITEM 16 10-K Summary 112

SIGNATURES

SIGNATURES i Table of Contents CAUTION ARY NOTE REGARDING FORWARD - LOOKING STATEMENTS We have included or incorporated by reference in this Annual Report on Form 10 - K and from time to time our management may make statements that may constitute "forward - looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward - looking statements are not historical facts, but instead represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside our control. These statements include statements other than historical information or statements of current condition and may relate to our future plans and objectives and results, among other things and may also include our belief regarding the effect of various legal proceedings, as set forth under "Legal Proceedings and Regulatory Matters" in Part I, Item 3 of this Annual Report on Form 10 - K, as well as statements about the objectives and effectiveness of our liquidity policies, statements about trends in or growth opportunities for our businesses, included in "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 of this Annual Report on Form 10 - K. By identifying these statements for you in this manner, we are alerting you to the possibility that our actual results may differ, possibly materially, from the anticipated results indicated in these forward - looking statements. Important factors that could cause actual results to differ from those in the forward - looking statements include, among others, those discussed below and under "Risk Factors" in Part I, Item 1A of this Annual Report on Form 10 - K and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Part II, Item 7 of this Annual Report on Form 10 - K. Factors that could cause actual results to differ materially from any future results, exp

BU SINESS

ITEM 1. BU SINESS Overview Interactive Brokers Group, Inc. ("IBG, Inc." or the "Company") is an automated global electronic broker. We custody and service accounts for hedge and mutual funds, exchange-traded funds ("ETFs"), registered investment advisors, proprietary trading groups, introducing brokers and individual investors. We specialize in routing orders and executing and processing trades in stocks, options, futures, foreign exchange instruments ("forex"), bonds, mutual funds, ETFs and precious metals on more than 150 electronic exchanges and market centers in 34 countries and 27 currencies seamlessly around the world. In addition, our customers can use our trading platform to trade certain cryptocurrencies through third-party cryptocurrency service providers that execute, clear and custody the cryptocurrencies. In the United States of America ("U.S."), we conduct our business primarily from our headquarters in Greenwich, Connecticut and from Chicago, Illinois. Abroad, we conduct our business through offices located in Canada, the United Kingdom, Ireland, Switzerland, Hungary, India, China (Hong Kong and Shanghai), Japan, Singapore and Australia . As of December 31, 2023, we had 2,932 employees worldwide. IBG, Inc. is a holding company whose primary asset is the ownership of approximately 25.4% of the membership interests of IBG LLC, the current holding company for our businesses. IBG, Inc. is the sole managing member of IBG LLC. When we use the terms "we," "us," "our," and "IBKR," we mean IBG, Inc. and its subsidiaries (including IBG LLC). Unless otherwise indicated, the terms "common stock" and "IBKR shares" refer to the Class A common stock of IBG, Inc. We trace our roots to the market making business founded by our Chairman, Mr. Thomas Peterffy, on the floor of the American Stock Exchange in 1977. Since our inception, we have focused on developing proprietary software to automate broker - dealer functions. We have been a pioneer in developing and

View Full Filing

View this 10-K filing on SEC EDGAR