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Pastimes : Triffin's Market Diary -- Ignore unavailable to you. Want to Upgrade?

To: Triffin who wrote (163)	5/18/2001 10:15:14 AM
From: Triffin	Read Replies (1) \| Respond to of 868

BC: DIRECT ACCESS Interactive Brokers Forges New Ground in Direct Access Commissions CHICAGO, May 17 /PRNewswire/ -- Interactive Brokers, ( www.interactivebrokers.com ), starting June 1, 2001, will cut the cost of trading for customers that execute large orders, making IB's already incredibly low commission schedule even more competitive. Customers executing stock orders will pay $0.01 per share for up to 500 shares and only half a penny ($0.005) for each share after 500 in the same order. Another benefit is that the commission is the same regardless of whether the customer places a market or limit order. ``With Interactive Brokers' sophisticated electronic execution and clearing technology, we are able to dramatically cut the cost of trading for sophisticated traders and investors,'' said Tom Ascher, IB Executive Vice President. ``The IB client wants the trade, not a hand to hold. Our service is targeted to the self-directed investor who demands high-speed execution at the lowest possible cost.'' IB customers already have the advantage of paying only $1.00 to trade 100 shares; soon they will be able to trade 1,000 shares for the low cost of $7.50. ``This pricing along with IB's offering of options for $1.95 per contract and futures for $2.95 per contract we believe makes IB's retail commission schedule the lowest in the industry among direct access brokerage firms,'' said Ascher. ``Coupled with IB's offering of 44 market centers worldwide, IB's new rates are more compelling then ever.'' Interactive Brokers LLC, formed in 1993, provides sophisticated investors and institutions direct access to the world's markets. It offers uninterrupted, direct access and interactive screen trading to 44 market centers in 13 countries. Interactive Brokers has direct electronic links to NYSE and AMEX listed stocks, Nasdaq and seven leading ECN platforms for Nasdaq issues; listed equity and index options on five U.S. options exchanges and major futures products on four U.S. futures exchanges. For international markets, Interactive Brokers' network has a direct interface to major exchanges in the United Kingdom, France, Germany, Belgium, Austria, Switzerland, Sweden, Norway, Netherlands, Spain, Italy, Australia and Hong Kong. The network is for traders whose strategies and profits depend on instantaneous order execution, absolute real-time pricing information and low transaction costs. Interactive Brokers LLC is an affiliate of Interactive Brokers Group LLC, a group of electronic brokerage and proprietary trading firms operating on most of the world's major exchanges. Timber Hill, a leading worldwide options market maker, is a member of the Interactive Brokers Group. The Interactive Brokers Group now employs approximately 400 traders, programmers and support staff located in offices and exchange trading floors throughout the world. SOURCE: Interactive Brokers