The Final Frontier - Online Remote Trading Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Final Frontier - Online Remote Trading

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: TFF	5/3/2007 3:36:29 PM
	of 12617

Interactive Brokers IPO buzz is strong By Greg Morcroft & Steve Gelsi, MarketWatch Last Update: 2:29 PM ET May 3, 2007 NEW YORK (MarketWatch) -- Market watchers are keeping a close eye on the initial public offering of options-trading firm Interactive Brokers Group as a steadily rising market combined with red-hot interest in exchanges and trading platforms have many investors expecting a big rise in the shares when they debut Friday. Interactive Brokers (IBKR) plans to offer 34.5 million shares at $27 to $31 apiece to raise about $1 billion. Earlier this week, Interactive Brokers Group boosted the IPO from 20 million shares and lifted the expected price from $23 to $27 a share. "The demand is considered massive across both retail and institutional books," Scott Sweet of IPO Boutique said. "The mere fact that the price-range and share-size increase was so large reinforces that belief." Interactive Brokers is tapping into a consolidation wave among exchange firms and increased traction in the futures and options business. Deutsche Boerse on Monday agreed to buy the electronic options-trading firm International Securities Exchange Holdings Inc. for $2.8 billion. The deal is the largest takeover of a U.S. financial-services firm by a German company since Deutsche Bank paid $9.8 billion for Bankers Trust in 1998. That deal also marks the latest milestone in the rapid cross-border consolidation of the exchange industry as technology reshapes markets in all sorts of financial instruments. See full story. IBG picked up a tailwind from that deal and reflects the auspicious timing of the firm's founder and chief executive, Thomas Peterffy. Peterffy, 62, owns about 85% of the company. Entities that he controls will receive about $830 million in proceeds based on an IPO price of $29 a share, according to company filings. Peterffy, who took part in the auction for the bankrupt derivatives trading firm Refco in 2005, has been a longtime proponent of electronic trading. The firm trades futures and foreign-exchange instruments as a member of more than 60 electronic exchanges and trading venues worldwide. Currently, the hottest-performing IPO of 2007 is commodities-risk-management firm FCStone Group Inc.The company debuted on March 19 at $24 a share and recently was trading around $47 a share, a near doubling from the IPO price.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next