Interactive Brokers Initial Public Offering

nitro · Apr 16, 2007

Quote from archon:

...After all, the money is in brokerage these days, not market making.
More...

Aahahhahaa,

Tooo funny.

nitro

mnx · Apr 16, 2007

from http://ipo.interactivebrokers.com/IPO/

"Due to Canadian legal restrictions, residents of Canada may not bid in an IBIPO Auction."

they just added this to their webpage... I assume this means they're going to cancel the bid I already put in?

I noticed there is no IBIPO tab under my account management login anymore...

- mnx

nitro · Apr 16, 2007

Quote from volatilitypimp:

I can see it now.(assuming u trade thru IB) After you liquidate the position and request a wire from IB to collect your profits, some obsure security measure was tripped and you don't see the cash until late 2009.

More...

:eek: nitro :eek:

rockn · Apr 16, 2007

Congrats!!!!! All I can say is wow...read over the IB history...amazing...

Quote from version77:

Dear Friends of Interactive Brokers:

After 30 years of building our closely held company, we are ready for the next phase of our development. We believe that a public offering of our shares will provide us with greater name recognition and accelerate our growth. Accordingly, we are now launching the Initial Public Offering of 20 million shares of Interactive Brokers Group, Inc. ("IBKR"), and we expect the public offering price to be between $23 and $27 per share.

Throughout our history, we have dedicated ourselves to building technology to provide liquidity and direct market access for our customers at very low costs. It is in this spirit that we are offering our shares in a Dutch auction through WR Hambrecht + Co's Open IPOTM system.

IB Account Holders can participate in the IPO through our fully electronic IBIPO Dutch Auction System, or along with others may buy shares in the IPO through the participating broker of their choice. IB customers will find instructions on how to enter and cancel bids in the IBIPO Auction System at www.interactivebrokers.com/IBIPO. The IBIPO Auction System may be launched in Account Management under the Trading Access/IBIPO Auction tab.

For the latest information on the IBKR IPO, including updates on the list of participating brokers, offering dates and an electronic copy of the prospectus you may visit our dedicated website IPO.Interactivebrokers.com.

An IBIPO auction is typically open for bids for one to two weeks prior to the closing date of the offering. Once the bidding concludes, WR Hambrecht + Co will assemble the bids and, working from highest to lowest, it will identify the first bid price that will sell all the offering's shares. This is the "clearing price" and will be the maximum price at which the issuing company will offer its shares. The issuing company and placement agents will then decide the price at which the issuing company will offer the shares, taking a number of economic and business factors into account in addition to the "clearing price."

As always we greatly value your business and look forward to continuing to serve you with our premier technology and low trading costs.

Sincerely,

Thomas Peterffy
More...

nutmeg · Apr 16, 2007

"Anybody got any ideas how to bid it for the maximum chance of getting some shares realistically priced?"

I haven't followed this IPO but if it is similiar to GOOG (auction)

Opening bell I put a market order in, TD would not accept it. TD asked on the screen for a max price I would pay. I put in 100, I believe at the time it was trading fast but around 95. My order was filled at 97+.

Good luck.

The Greeks · Apr 16, 2007

Options volume is growing at a record clip every year. Might not be a bad business to get into...

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Interactive Brokers Initial Public Offering

nitro

mnx

nitro

rockn

nutmeg

The Greeks