Interactive Brokers Group, Inc. (NASDAQ GS: IBKR) an automated global electronic broker and market maker, announced that on August 16, 2012 it received a letter from the NASDAQ staff notifying the Company that it is non-compliant with NASDAQ Listing Rule 5250(c)(1) because its Quarterly Report on Form 10-Q for the period ended June 30, 2012 was not filed on a timely basis with the Securities and Exchange Commission (“SEC”) and has not yet been filed. NASDAQ Listing Rule 5250(c)(1) requires the Company to timely file all required periodic financial reports with the SEC. Pursuant to NASDAQ Rules and in connection with the delinquent filing of its Form 10-Q for the period ended March 31, 2012, the Company submitted a plan, including a request to extend the remediation date until September 27, 2012, to regain compliance to NASDAQ, which plan was accepted by NASDAQ. The Company is making this disclosure in compliance with NASDAQ Listing Rule 5810(b). As reported in the Company’s Form 8-K, filed on August 15, 2012, after consideration of guidance received from the SEC as to whether noncontrolling interests in IBG LLC attributable to IBG Holdings LLC should be accounted for and reported as temporary or permanent equity in the Company’s consolidated financial statements, the Company has concluded that such noncontrolling interests should be reported as temporary equity for periods prior to June 6, 2012 and as permanent equity for periods after June 6, 2012. As also reported in the August 15, 2012 Form 8-K, certain prior period financial statements will be restated accordingly as soon as practicable and, concurrently with the filing of the restatements, the Company will file a Form 10-Q for the period ended June 30, 2012. About Interactive Brokers Group, Inc.: Interactive Brokers Group, Inc., together with its subsidiaries, is an automated global electronic broker that specializes in catering to financial professionals by offering state-of-the-art trading technology, superior execution capabilities, worldwide electronic access, and sophisticated risk management tools at exceptionally low costs. The brokerage trading platform utilizes the same innovative technology as the Company’s market making business, which specializes in routing orders and executing and processing trades in securities, futures, foreign exchange instruments, bonds and funds on more than 100 electronic exchanges and trading venues around the world. As a market maker, we provide liquidity at these marketplaces and, as a broker, we provide professional traders and investors with electronic access to stocks, options, futures, forex, bonds and mutual funds from a single IB Universal Account SM. Employing proprietary software on a global communications network, Interactive Brokers is continuously integrating its software with a growing number of exchanges and trading venues into one automatically functioning, computerized platform that requires minimal human intervention. Cautionary Note Regarding Forward-Looking Statements: The foregoing information contains certain forward-looking statements that reflect the company's current views with respect to certain current and future events and financial performance. These forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the company's operations and business environment which may cause the company's actual results to be materially different from any future results, expressed or implied, in these forward-looking statement, including the risk that that Company will require additional time to prepare the restated financial statements. Any forward-looking statements in this release are based upon information available to the company on the date of this release. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.
More from Press Releases
NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling
The Supreme Court rules that previous congressional action forbidding states from legalizing sports betting was unconstitutional.
Walmart CEO: 'We Are Transforming Globally' With Flipkart
On its investor call on Wednesday morning, Walmart discusses the Flipkart deal.
March 24 Full-Day Course Offering: Professional Approach to Trading SPX
OptionsProfits, the CBOE, and Option Pit are hosting a class on March 24 that covers a wide variety of methods to trade the S&P 500.