Interactive Brokers Group Inc

For the period ended Sep 30, 2024. Filed Nov 7, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 7, 2024

IBKR$77.59+0.0%Stored close · as of Nov 10, 2026

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Contents

Financial Assets and Financial Liabilities

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The tables below present, by level within the fair value hierarchy (see Note 2), financial assets and liabilities, measured at fair value on a recurring basis for the periods indicated. As required by ASC Topic 820, financial assets and financial liabilities are classified in their entirety based on the lowest level of input that is significant to the respective fair value measurement.

	Level 1	Level 2	Level 3	Total
(in millions)
Securities segregated for regulatory purposes
U.S. and foreign government securities	$6,631	$—	$—	$6,631
Municipal securities	—	57	—	57
Total securities segregated for regulatory purposes	6,631	57	—	6,688
Financial instruments owned, at fair value
Stocks	1,850	—	—	1,850
Options	119	—	—	119
U.S. and foreign government securities	948	—	—	948
Mutual funds	2	—	—	2
Precious metals	—	20	—	20
Currency forward contracts	—	10	—	10
Total financial instruments owned, at fair value	2,919	30	—	2,949
Other assets
Customer-held fractional shares	226	—	—	226
Crypto-asset safeguarding asset	—	242	—	242
Other investments in equity securities	54	—	—	54
Total other assets	280	242	—	522
Total financial assets at fair value	$9,830	$329	$—	$10,159

	Level 1	Level 2	Level 3	Total
(in millions)
Financial instruments sold, but not yet purchased, at fair value
Stocks	$190	$—	$—	$190
Options	172	—	—	172
Precious metals	—	17	—	17
Currency forward contracts	—	2	—	2
Total financial instruments sold, but not yet purchased, at fair value	362	19	—	381
Accounts payable, accrued expenses and other liabilities
Fractional shares repurchase obligation	226	—	—	226
Crypto-asset safeguarding liability	—	242	—	242
Total accounts payable, accrued expenses and other liabilities	226	242	—	468
Total financial liabilities at fair value	$588	$261	$—	$849

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	Level 1	Level 2	Level 3	Total
(in millions)
Securities segregated for regulatory purposes
U.S. and foreign government securities	$5,684	$—	$—	$5,684
Municipal securities	—	70	—	70
Total securities segregated for regulatory purposes	5,684	70	—	5,754
Financial instruments owned, at fair value
Stocks	1,023	—	—	1,023
Options	354	—	—	354
U.S. and foreign government securities	39	—	—	39
Precious metals	—	12	—	12
Currency forward contracts	—	60	—	60
Total financial instruments owned, at fair value	1,416	72	—	1,488
Other assets
Customer-held fractional shares	144	—	—	144
Crypto-asset safeguarding asset	—	172	—	172
Other investments in equity securities	44	—	—	44
Total other assets	188	172	—	360
Total financial assets at fair value	$7,288	$314	$—	$7,602

	Level 1	Level 2	Level 3	Total
(in millions)
Financial instruments sold, but not yet purchased, at fair value
Stocks	$77	$—	$—	$77
Options	104	—	—	104
Precious metals	—	7	—	7
Currency forward contracts	—	5	—	5
Total financial instruments sold, but not yet purchased, at fair value	181	12	—	193
Accounts payable, accrued expenses and other liabilities
Fractional shares repurchase obligation	144	—	—	144
Crypto-asset safeguarding liability	—	172	—	172
Total accounts payable, accrued expenses and other liabilities	144	172	—	316
Total financial liabilities at fair value	$325	$184	$—	$509

Level 3 Financial Assets and Financial Liabilities

There wereno transfers in or out of level 3 for the nine months ended September 30, 2024.

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Financial Assets and Liabilities Not Measured at Fair Value

Financial assets and liabilities not measured at fair value are recorded at carrying value, which approximates fair value due to their short-term nature. The tables below represent the carrying value, fair value and fair value hierarchy category of certain financial assets and liabilities that are not recorded at fair value in the Company's condensed consolidated statements of financial condition for the periods indicated. The tables below exclude certain financial instruments such as equity method investments and all non-financial assets and liabilities.

	Carrying ‎Value	Fair ‎Value	Level 1	Level 2	Level 3
(in millions)
Financial assets, not measured at fair value
Cash and cash equivalents	$3,595	$3,595	$3,595	$—	$—
Cash - segregated for regulatory purposes	35,216	35,216	35,216	—	—
Securities - segregated for regulatory purposes	24,415	24,415	—	24,415	—
Securities borrowed	7,513	7,513	—	7,513	—
Securities purchased under agreements to resell	8,176	8,176	—	8,176	—
Receivables from customers	56,006	56,006	—	56,006	—
Receivables from brokers, dealers and clearing organizations	2,210	2,210	—	2,210	—
Interest receivable	423	423	—	423	—
Other assets	30	32	—	3	29
Total financial assets, not measured at fair value	$137,584	$137,586	$38,811	$98,746	$29

Financial liabilities, not measured at fair value
Short-term borrowings	$33	$33	$—	$33	$—
Securities loaned	16,818	16,818	—	16,818	—
Payables to customers	112,579	112,579	—	112,579	—
Payables to brokers, dealers and clearing organizations	1,202	1,202	—	1,202	—
Interest payable	327	327	—	327	—
Total financial liabilities, not measured at fair value	$130,959	$130,959	$—	$130,959	$—

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	Carrying ‎Value	Fair ‎Value	Level 1	Level 2	Level 3
(in millions)
Financial assets, not measured at fair value
Cash and cash equivalents	$3,753	$3,753	$3,753	$—	$—
Cash - segregated for regulatory purposes	28,840	28,840	28,840	—	—
Securities - segregated for regulatory purposes	29,632	29,632	—	29,632	—
Securities borrowed	5,835	5,835	—	5,835	—
Securities purchased under agreements to resell	5,504	5,504	—	5,504	—
Receivables from customers	44,472	44,472	—	44,472	—
Receivables from brokers, dealers and clearing organizations	1,643	1,643	—	1,643	—
Interest receivable	375	375	—	375	—
Other assets	22	23	—	2	21
Total financial assets, not measured at fair value	$120,076	$120,077	$32,593	$87,463	$21

Financial liabilities, not measured at fair value
Short-term borrowings	$17	$17	$—	$17	$—
Securities loaned	11,347	11,347	—	11,347	—
Payables to customers	101,012	101,012	—	101,012	—
Payables to brokers, dealers and clearing organizations	590	590	—	590	—
Interest payable	311	311	—	311	—
Total financial liabilities, not measured at fair value	$113,277	$113,277	$—	$113,277	$—

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Netting of Financial Assets and Financial Liabilities

The Company’s policy is to net securities borrowed and securities loaned, and securities purchased under agreements to resell and securities sold under agreements to repurchase that meet the offsetting requirements prescribed in ASC Topic 210-20. In the tables below, the amounts of financial instruments that are not offset in the condensed consolidated statements of financial condition, but could be netted against cash or financial instruments with specific counterparties under master netting agreements, according to the terms of the agreements, including clearing houses (exchange-traded options, warrants and discount certificates) or over the counter currency forward contract counterparties, are presented to provide financial statement readers with the Company’s net payable or receivable with counterparties for these financial instruments.

The tables below present the netting of financial assets and financial liabilities for the periods indicated.

Amounts · Net Amounts · Amounts Not Offset
Gross · Offset in the · Presented in · in the Condensed
Amounts · Condensed · the Condensed · Consolidated
of Financial · Consolidated · Consolidated · Statements of
Assets and · Statements of · Statements of · Financial Condition
Liabilities · Financial · Financial · Cash or Financial · Net
	Recognized		Condition	2	Condition	Instruments	Amount
(in millions)
Offsetting of financial assets
Securities segregated for regulatory purposes - purchased under agreements to resell		$24,415	1		$—		$24,415	$(24,415)	$—
Securities borrowed		7,513			—		7,513	(7,311)	202
Securities purchased under agreements to resell		8,176			—		8,176	(8,176)	—
Financial instruments owned, at fair value
Options		119			—		119	(83)	36
Currency forward contracts		10			—		10	—	10
Total		$40,233			$—		$40,233	$(39,985)	$248

(in millions)
Offsetting of financial liabilities
Securities loaned	$16,818	$—	$16,818	$(15,770)	$1,048
Financial instruments sold, but not yet purchased, at fair value
Options	172	—	172	(83)	89
Currency forward contracts	2	—	2	—	2
Total	$16,992	$—	$16,992	$(15,853)	$1,139

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Amounts · Net Amounts · Amounts Not Offset
Gross · Offset in the · Presented in · in the Condensed
Amounts · Condensed · the Condensed · Consolidated
of Financial · Consolidated · Consolidated · Statements of
Assets and · Statements of · Statements of · Financial Condition
Liabilities · Financial · Financial · Cash or Financial · Net
	Recognized		Condition	2		Condition	Instruments		Amount
(in millions)
Offsetting of financial assets
Securities segregated for regulatory purposes - purchased under agreements to resell	$29,632	1			$—			$29,632		$(29,632)	$—
Securities borrowed	5,835				—			5,835		(5,618)	217
Securities purchased under agreements to resell	5,504				—			5,504		(5,504)	—
Financial instruments owned, at fair value
Options	354				—			354		(104)	250
Currency forward contracts	60				—			60		—	60
Total	$41,385				$—			$41,385		$(40,858)	$527

(in millions)
Offsetting of financial liabilities
Securities loaned	$11,347	$—	$11,347	$(10,443)	$904
Financial instruments sold, but not yet purchased, at fair value
Options	104	—	104	(104)	—
Currency forward contracts	5	—	5	—	5
Total	$11,456	$—	$11,456	$(10,547)	$909

(1)As of September 30, 2024 and December 31, 2023, the Company had $24.4 billion and $29.6 billion, respectively, of securities purchased under agreements to resell that were segregated to satisfy regulatory requirements. These securities are included in “Securities - segregated for regulatory purposes” in the condensed consolidated statements of financial condition.

(2)The Company did not have any balances eligible for netting in accordance with ASC Topic 210-20 as of September 30, 2024 and December 31, 2023.

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Secured Financing Transactions – Maturities and Collateral Pledged

The tables below present gross obligations for securities loaned transactions by remaining contractual maturity and class of collateral pledged for the periods indicated.

	Remaining Contractual Maturity
	Overnight		Less than	30 – 90	Over 90
and Open · 30 days · days · days · Total
(in millions)
Securities loaned
Stocks		$16,777		$—		$—	$—	$16,777
Corporate bonds		41		—		—	—	41
Total securities loaned		$16,818		$—		$—	$—	$16,818

	Remaining Contractual Maturity
	Overnight		Less than	30 – 90	Over 90
and Open · 30 days · days · days · Total
(in millions)
Securities loaned
Stocks		$11,306		$—		$—	$—	$11,306
Corporate bonds		41		—		—	—	41
Total securities loaned		$11,347		$—		$—	$—	$11,347

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.