UPDATE: Interactive Brokers (IBKR) to Allow Customers to Trade Through IEX

(Updated - April 3, 2014 3:34 PM EDT)

In response to the outcry over high-frequency trading (HFT), Interactive Brokers Group, Inc. (NASDAQ: IBKR) confirmed market talk that it will allow customers to route orders through new anti-HFT exchange IEX. A press release from the company is forthcoming.

Below is the press release issued by the company:

Interactive Brokers Group, Inc. (NASDAQ GS: IBKR) is the first online broker to offer direct access to IEX to its investors, traders and institutions. IEX is an ATS designed to focus on investor protection and performance.

Interactive Brokers’ (IB) sophisticated customer base may now choose to send their US stock orders to IEX directly. Customers also have the choice of using IB SmartRoutingSM technology. IB SmartRouting searches for the best firm stock, option and combination prices available at the time of the order, and seeks to immediately execute the order electronically.

Steve Sanders, executive vice president of marketing and product development at Interactive Brokers, said “Customer interest in IEX as a result of recent media exposure is apparent. We determined that it makes sense to connect directly to this new trading venue, thereby providing our customers with another market center destination.”

For 37 years, the IB Group1 has been building electronic access trading technology that delivers real advantages to traders, investors and institutions worldwide. Interactive Brokers is the largest US electronic broker based on daily average revenue trades executing 583,000 trades per day2.

Based on independent measurements, the Transaction Auditing Group, Inc. (TAG), a third-party provider of transaction analysis, has determined that Interactive Brokers’ US stock and options price executions were significantly better than the industry3 during the second half of 2013. The IB price advantage is better than the industry by $0.23 per 100 shares of US stock and $0.20 per US option contract.

For more information about Interactive Brokers please visit interactivebrokers.com.

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