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Thomas Pederfee: Founder and Chairman Milan Galek: President and CEO
Articles
Apr. 8, 2025 —The Securities and Exchange Commission today announced that starting on May 14, 2025, the fee rates applicable to most securities transactions will be set at $0.00 per million dollars.
Consequently, each SRO will continue to pay the Commission a rate of $27.80 per million for covered sales occurring on charge dates through May 13, 2025, and a rate of $0.00 per million for covered sales occurring on charge dates on or after May 14, 2025.
The assessment on security futures transactions will remain unchanged at $0.0042 for each round turn transaction.
Quarterly Results
2025 Q1
The Interactive Brokers Group, Inc. Board of Directors declared an increase in the quarterly cash dividend from $0.25 per share to $0.32 per share. This dividend is payable on June 13, 2025, to shareholders of record as of May 30, 2025.
In addition, Interactive Brokers Group, Inc. announced a four-for-one forward split of its common stock to make stock ownership more accessible to investors. Each record holder of common stock as of the close of market on Monday, June 16, 2025, will receive three additional shares of common stock, to be distributed after the close of market on Tuesday, June 17, 2025. Trading is expected to commence on a split-adjusted basis at market open on Wednesday, June 18, 2025.
We added four new cryptocurrencies: Solana, Cardano, Ripple, and Dogecoin and last week introduced three more: Chainlink, Avalanche, and Sui bringing our total offering to 11 cryptocurrencies.
And as a note for the upcoming quarters, the SEC reduced its fee rate to zero effective this coming May 15, which should be a tailwind for execution and clearing costs thereafter. SEC fees totaled $27 million for the current quarter.
So we have seen very significant volumes as the market dropped and then it bounced back up, we saw record volumes. There were some shifts that we noticed our clients traded less fewer options. They traded more futures than usual, and as you would expect, we saw more trading in the fixed income instruments and foreign exchange.
As far as the deleveraging is concerned, we saw a slight decrease around 10% or so, 10% to 12% decrease in margin loans, which is something you would expect when there is such large move downward, you would expect the customers to reduce their risk posture. We also saw somewhat less aggressive positions in options and futures. I think that roughly summarizes what we’ve recently seen.
We increased our appetite for the crypto space, and we added the seven currencies, as well as we increased the limit that governs how much assets a client account can hold in cryptocurrencies. We went from 10% to 30% of NRV.
It’s not growing as fast as we would like, which to me personally, somewhat of a surprise, because if you look at the cost of trading of crypto assets on our platform, it is significantly lower than the cost that our competitors charge, yet we do not see a huge influx of cryptocurrency traders to our platform.
we target our dividends to be between 0.5% and 1% of the stock price.
The exposure fees, they fluctuate more than the margin balances.
The margin balances tend to be very steady and they obviously reflect the income from shares that the customers buy in margin.
The exposure fees are generated based on the exposure that we as a firm can have from clients options and futures positions, not only the leverage stock position. So they tend to fluctuate more. The clients of ours are very nimble. They reduce their options exposures quickly as the market fall. So we expect these exposure fees to fluctuate more than the margin balances.